S-8 POS

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging Growth Company

As filed with the Securities and Exchange Commission on May 24, 2019

Registration No. 333-197284

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

POST-EFFECTIVE AMENDMENT NO. 1 TO

FORM S-8

REGISTRATION STATEMENT

UNDER THE SECURITIES ACT OF 1933

CBIZ, INC.

(Exact name of registrant as specified in its charter)

Delaware

22-2769024

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

6050 Oak Tree Boulevard, South, Suite 500

Cleveland, Ohio 44131

(216) 447-9000

(Address of principal executive offices, including zip code)

2019 CBIZ, Inc. Omnibus Incentive Plan

CBIZ, Inc. 2014 Stock Incentive Plan

CBIZ, Inc. 2002 Amended and Restated Stock Incentive Plan

(Full title of the plan)

Michael W. Gleespen

Secretary and General Counsel

6050 Oak Tree Boulevard, South, Suite 500

Cleveland, Ohio 44131

(216) 447-9000

(Name, address and telephone number, including area code, of agent for service)

Copy to:

Anthony J. Renzi, Jr.

Akin Gump Strauss Hauer & Feld LLP

2001 K Street N.W.

Washington, DC 20006

(202) 887-4000

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

CALCULATION OF REGISTRATION FEE



Title of Securities to be Registered (1)	Amount to be Registered (2)	Proposed Maximum Offering Price Per Share (3)	Proposed Maximum Aggregate Offering Price (3)	Amount of Registration Fee (3)
Common Stock, par value $0.01	3,062,788	N/A	N/A	N/A

(1)

As described in the “Explanatory Note” below, this Post-Effective Amendment No. 1 to Form S-8 (this “Post-Effective Amendment”) is being filed to provide that up to 3,062,788 shares of common stock, $0.01 par value per share (“Common Stock”), originally registered upon the filing of the Form S-8 (Commission File No. 333-197284) on July 7, 2014 (the “Prior Registration Statement”) for issuance under the CBIZ, Inc. 2014 Stock Incentive Plan (the “2014 Plan”) may be issued under the 2019 CBIZ, Inc. Omnibus Incentive Plan (the “2019 Plan” and, together with the 2014 Plan, the “Plans”) once they are no longer issuable pursuant to the 2014 Plan.

(2)

Pursuant to Rule 416(c) under the Securities Act of 1933, as amended, includes an indeterminate number of additional shares of Common Stock issuable pursuant to awards or the exercise of options to be granted under the Plans to prevent dilution that may result from any future stock splits, stock dividends or similar transactions affecting the Common Stock.

(3)

The filing fee for the registration of the offer of shares under the CBIZ, Inc. 2002 Amended and Restated Stock Incentive Plan (the “2002 Plan”) and the 2014 Plan were paid in full upon the filing of the Prior Registration Statement. Pursuant to SEC Securities Act Forms Compliance and Disclosure Interpretation 126.43, no filing fee is required for this Post-Effective Amendment.

EXPLANATORY NOTE

CBIZ, Inc. (the “Company” or the “Registrant”) previously filed with the Securities and Exchange Commission its Registration Statement on Form S-8 (Commission File No. 333-197284) on July 7, 2014 (the “Prior Registration Statement”) to register the offer of 16,015,540 shares of common stock, par value $0.01 per share, of the Company (the “Common Stock”) pursuant to the CBIZ, Inc. 2002 Amended and Restated Stock Incentive Plan (the “2002 Plan”) and the CBIZ, Inc. 2014 Stock Incentive Plan (the “2014 Plan”).

On May 9, 2019 (the “Approval Date”), the Company’s stockholders approved the 2019 CBIZ, Inc. Omnibus Incentive Plan (the “2019 Plan”) and, in connection therewith, no future awards will be made under the 2014 Plan and any shares of Common Stock that were available to be awarded under the 2014 Plan and any shares of Common Stock subject to outstanding awards under the 2014 Plan as of the Approval Date that expire, are forfeited, canceled or otherwise terminated after the Approval Date will be available for issuance under the 2019 Plan (the “Rollover Shares”).

The Company is filing this Post-Effective Amendment No. 1 to Form S-8 (this “Post-Effective Amendment”) pursuant to SEC Securities Act Forms Compliance and Disclosure Interpretation 126.43 to amend the Prior Registration Statement to also cover the offer and sale of up to 3,062,788 Rollover Shares under the 2019 Plan (to the extent such shares are, or become no longer issuable under the 2014 Plan and instead are, or become, issuable under the 2019 Plan). For avoidance of doubt, this Post-Effective Amendment will not cause this Registration Statement to cover the offer and sale of any additional shares of the Registrant’s Common Stock that may be offered and sold under the 2019 Plan that were not previously issuable under the 2014 Plan.

PART I

INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS

The documents containing the information specified in Part I of this Post-Effective Amendment will be sent or given to the employees of the Registrant, as specified by Rule 428(b)(1) promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Also, upon written or oral request, any of the documents incorporated by reference in Item 3 of Part II of this Post-Effective Amendment (which documents are incorporated by reference in the Section 10(a) prospectus), other documents required to be delivered to eligible employees pursuant to Rule 428(b) of the Securities Act or additional information about the plans are available without charge to participants of the plans by contacting the Corporate Secretary, CBIZ, Inc., 6050 Oak Tree Boulevard, South, Suite 500, Cleveland, Ohio 44131 ((216) 447-9000).

Such documents need not be filed with the Securities and Exchange Commission (the “Commission”) either as part of this Post-Effective Amendment or as prospectuses or prospectus supplements pursuant to Rule 424 promulgated under the Securities Act. These documents and the documents incorporated by reference in this Post-Effective Amendment pursuant to Item 3 of Form S-8 (Part II hereof), taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.

Incorporation of Documents by Reference.

The following documents filed by the Registrant with the Commission (other than those furnished pursuant to Items 2.02 and 7.01 of Form 8-K) are incorporated by reference in this Post-Effective Amendment:

•

the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 filed pursuant to Section 13(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), on February 28, 2019 with the Commission;

•

the information specifically incorporated by reference to the Registrant’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 from its Definitive Proxy Statement on Schedule 14A, filed with the Commission on April 5, 2019;

•

the Registrant’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2019 filed pursuant to Section 13(a) of the Exchange Act on May 6, 2019 with the Commission;

•

the description of the Registrant’s Common Stock contained in the Registrant’s Registration Statement on Form 8-A, as filed with the Commission on July 26, 2006, including any amendments or reports filed for the purpose of updating such description; and

•

the Registrant’s Current Reports on Form 8-K filed with the Commission on February 12, 2019 and May 10, 2019.

In addition, all documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act (other than Current Reports on Form 8-K furnished pursuant to items 2.02 or 7.01 of such form), prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Post-Effective Amendment and to be a part hereof from the date of filing of such documents with the Commission. Statements contained in this Post-Effective Amendment or in a document incorporated by reference may be modified or superseded by later statements in this Post-Effective Amendment or by statements in subsequent documents incorporated by reference, in which case you should refer to the later statement.

Item 4.

Description of Securities.

Not applicable.

Item 5.

Interests of Named Experts and Counsel.

Not applicable.

Item 6.

Indemnification of Directors and Officers.

Section 145 of the General Corporation Law of the State of Delaware (the “DGCL”) provides, in general, for the indemnification of any director or officer who was, is, or is threatened to be made a party in any action, suit or proceeding (other than an action by or in the right of the Registrant). In general, each director and officer is indemnified against losses by reason of his or her being an officer or director of the Registrant provided that he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Registrant, and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was unlawful.

The Registrant’s Amended and Restated Certificate of Incorporation, as amended (the “Restated Certificate of Incorporation”), entitles its board of directors to provide for indemnification of directors and officers to the fullest extent provided by law. As permitted by Section 102(b)(7) of the DGCL, Article Eleven of the Restated Certificate of Incorporation provides that no director of the Registrant shall be personally liable to the Registrant or its stockholders for monetary damages for breach of fiduciary duty as a director, provided that this indemnification shall not eliminate or limit the liability of a director for:

•

any breach of a director’s duty of loyalty to the Registrant or its stockholders;

•

acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;

•

unlawful payments of dividends;

•

unlawful stock purchases or redemptions; or

•

any transaction from which the director derived an improper personal benefit.

Article 7 of the Registrant’s Amended and Restated Bylaws, as amended (the “Bylaws”), provides that to the fullest extent and in the manner permitted by the laws of the State of Delaware and specifically as is permitted under Section 145 of the DGCL, the Registrant shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, other than an action by or in the right of the Registrant, by reason of the fact that such person

is or was a director, officer, employee or agent of the Registrant, or is or was serving at the request of the Registrant as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses, including attorneys’ fees, judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding if such person acted in good faith and in a manner he reasonably believed to be in and not opposed to the best interests of the Registrant and with respect to any criminal action or proceeding, such person had no reasonable cause to believe his conduct was unlawful. Determination of any action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent shall not, of itself, create a presumption that a person did not act in good faith and in a manner such person reasonably believed to be in and not opposed to the best interests of the Registrant, and with respect to any criminal action or proceeding, had reasonable cause to believe his conduct was lawful.

Additionally, Article 7 of the Bylaws provides that the Registrant shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Registrant to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the Registrant, or is or was serving at the request of the Registrant as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses, including attorneys’ fees, actually and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Registrant, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the Registrant unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.

Article 7 of the Bylaws also provides that any decision as to indemnification shall be made:

•

by the board of directors of the Registrant by a majority vote of a quorum consisting of directors who were not parties to such action, suit or proceeding; or

•

if such a quorum is not obtainable, or even if obtainable, if a quorum of disinterested directors so directs, by independent legal counsel in a written opinion; or

•

by the stockholders.

In addition, the board of directors of the Registrant has authorized indemnification of expenses incurred by an officer or director in defending a civil or criminal action, suit or proceeding in advance of the final disposition of such action, suit or proceeding. Indemnification pursuant to these provisions is not exclusive of any other rights to which those seeking indemnification may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise and shall continue as to a person who has ceased to be a director or officer. The Registrant may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the Registrant.

Further, Article 7 of the Bylaws provides that the indemnity provided will be extended to the directors, officers, employees and agents of any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger that, if its separate existence had continued, would have had the power and authority to indemnify its directors, officers, and employees or agents so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under the provisions of the Bylaws with respect to the resulting or surviving corporation as such person would have had with respect to such constituent corporation if its separate existence had continued.

The Registrant currently maintains an insurance policy relating to its directors and officers, under which policy such directors and officers are insured, within the limits and subject to the limitations of the policy, against certain expenses in connection with the defense of certain claims, actions, suits or proceedings, and certain liabilities which might be imposed as a result of such claims, actions, suits or proceedings, which may be brought against them by reason of being or having been such directors or officers.

Item 7.

Exemption from Registration Claimed.

Not Applicable.

Item 8.

Exhibits.

EXHIBIT INDEX


Exhibit Number		Description of Exhibit

3.1*		Amended and Restated Certificate of Incorporation of the Company, effective as of August 7, 2000.

3.2		Certificate of Amendment of the Certificate of Incorporation of the Company, effective August 1, 2005 (filed as Exhibit 3.5 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2005, File No. 000-25890, dated March 16, 2006, and incorporated herein by reference).

3.3*		Amended and Restated Bylaws of the Company, effective as of July 31, 2000.

3.4		Amendment to Amended and Restated Bylaws of the Company dated November 1, 2007 (filed as Exhibit 3.1 to the Company’s Report on Form 8-K, File No. 001-32961, dated November 1, 2007, and incorporated herein by reference).

4.1		Form of Stock Certificate of Common Stock of the Company (filed as Exhibit 4.1 to the Company’s Annual Report Form 10-K for the year ended December 31, 1998, File No. 000-25890, dated March 4, 1999, and incorporated herein by reference).

4.2*		2019 CBIZ, Inc. Omnibus Incentive Plan.

4.3		CBIZ, Inc. 2014 Stock Incentive Plan (filed as Exhibit 4.2 to the Company’s Registration Statement No. 333-197284 and incorporated herein by reference).

4.4		CBIZ, Inc. 2002 Amended and Restated Sock Incentive Plan (filed as Exhibit 10.1 to the Company’s Report on Form 10-Q, File No. 001-32961, dated August 9, 2011, and incorporated herein by reference).

5.1*		Opinion of Akin Gump Strauss Hauer & Feld LLP.

23.1*		Consent of KPMG LLP.

23.2*		Consent of Akin Gump Strauss Hauer & Feld LLP (included in the opinion filed as Exhibit 5.1 of this Post-Effective Amendment).

24.1*		Power of Attorney (included on the signature page of this Post-Effective Amendment).

*	Filed herewith.

Item 9.

Undertakings.

(a)

The undersigned Registrant hereby undertakes:

(1)

To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

(i)

to include any prospectus required by Section 10(a)(3) of the Securities Act;

(ii)

to reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective Registration Statement; and

(iii)

to include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement.

provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

(2)

That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3)

To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b)

The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(c)

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Post-Effective Amendment to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Cleveland, State of Ohio on this 24^th day of May, 2019.


CBIZ, INC.

By:		/s/ Jerome P. Grisko, Jr.
		Jerome P. Grisko, Jr.
		Chief Executive Officer

POWER OF ATTORNEY

Each person whose signature appears in this Post-Effective Amendment in any capacity hereby constitutes and appoints Jerome P. Grisko, Jr., Ware H. Grove, and Michael W. Gleespen, and each of them, his true and lawful attorney-in-fact and agent, with full power of substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Post-Effective Amendment and to file the same with the Securities and Exchange Commission, with all exhibits thereto, and other documents in connection therewith, granting unto said attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite or desirable.

Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment has been signed on the 24th day of May, 2019 by the following persons in the capacities indicated:


NAME		TITLE

/s/ Jerome P. Grisko, Jr. Jerome P. Grisko, Jr.		President & Chief Executive Officer, Director (Principal Executive Officer)

/s/ Ware H. Grove Ware H. Grove		Chief Financial Officer (Principal Financial and Accounting Officer)

/s/ Steven L. Gerard Steven L. Gerard		Chairman

/s/ Rick L. Burdick Rick L. Burdick		Lead Director

/s/ Michael H. DeGroote Michael H. DeGroote		Director

/s/ Joseph S. DiMartino Joseph S. DiMartino		Director

/s/ Gina D. France Gina D. France		Director

/s/ Sherrill W. Hudson Sherrill W. Hudson		Director

/s/ Todd J. Slotkin Todd J. Slotkin		Director

/s/ Donald V. Weir Donald V. Weir		Director

/s/ Benaree Pratt Wiley Benaree Pratt Wiley		Director