Schedule 14A


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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934 (Amendment No.              )

Filed by the Registrant  x

Filed by a Party other than the Registrant  o

Check the appropriate box:

o

Preliminary Proxy Statement

o

Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

x

Definitive Proxy Statement

o

Definitive Additional Materials

o

Soliciting Material Pursuant to §240.14a-12

 

Avid Technology, Inc.

(Name of Registrant as Specified In Its Charter)

 

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

 

Payment of Filing Fee (Check the appropriate box):

x

No fee required.

o

Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

 

(1)

Title of each class of securities to which transaction applies:

 

 

 

 

(2)

Aggregate number of securities to which transaction applies:

 

 

 

 

(3)

Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

 

 

 

(4)

Proposed maximum aggregate value of transaction:

 

 

 

 

(5)

Total fee paid:

 

 

 

o

Fee paid previously with preliminary materials.

o

Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

(1)

Amount Previously Paid:

 

 

 

 

(2)

Form, Schedule or Registration Statement No.:

 

 

 

 

(3)

Filing Party:

 

 

 

 

(4)

Date Filed:

 

 

 

 

 

 

 
Avid Technology, Inc.

Avid Technology Park

One Park West

Tewksbury, Massachusetts 01876

Notice of 2007 Annual Meeting of Stockholders to be Held on Wednesday, May 16, 2007

The 2007 Annual Meeting of Stockholders of Avid Technology, Inc. will be held on Wednesday, May 16, 2007, at our offices located at 1925 Andover Street, Tewksbury, Massachusetts at 10:00 a.m., local time, to consider and act upon the following matters:

1.                To elect two Class II Directors to serve for three-year terms.

2.                To ratify the selection of Ernst & Young LLP as our independent registered public accounting firm for the current fiscal year.

3.                To consider such other business as may properly come before the meeting or any adjournment thereof.

The foregoing items of business are more fully described in the proxy statement accompanying this notice. Stockholders of record at the close of business on March 20, 2007 are entitled to notice of and to vote at the meeting or any adjournment thereof. A copy of our Annual Report to Stockholders for 2006, which contains consolidated financial statements and other information of interest to stockholders, accompanies this notice and proxy statement. All stockholders are cordially invited to attend the meeting.

 

By Order of our Board of Directors,

 

PAIGE PARISI

 

Secretary

Tewksbury, Massachusetts

 

April 5, 2007

 

 

YOUR VOTE IS IMPORTANT REGARDLESS OF THE NUMBER OF SHARES YOU OWN.  WHETHER OR NOT YOU EXPECT TO ATTEND THE ANNUAL MEETING, PLEASE COMPLETE, DATE AND SIGN THE ENCLOSED PROXY AND MAIL IT PROMPTLY IN THE ENCLOSED ENVELOPE IN ORDER TO ENSURE REPRESENTATION OF YOUR SHARES. NO POSTAGE NEED BE AFFIXED IF THE PROXY IS MAILED IN THE UNITED STATES.
Table of Contents

 

 

Page

 

Voting Securities and Votes Required

 

1

 

Costs of Soliciting Proxies

 

1

 

Security Ownership of Certain Beneficial Owners and Management

 

2

 

Section 16(a) Beneficial Ownership Reporting Compliance

 

5

 

Proposal 1—Election of Directors

 

5

 

General

 

5

 

Directors

 

5

 

Nominees

 

5

 

Continuing Members of our Board of Directors

 

6

 

Director Candidates

 

7

 

Communicating with our Board of Directors

 

7

 

Director Compensation

 

7

 

Director Compensation Table for Fiscal Year 2006

 

9

 

Board of Directors and Committee Meetings

 

10

 

Compensation Committee Interlocks and Insider Participation

 

12

 

Executive Compensation

 

12

 

Compensation Discussion and Analysis

 

12

 

Compensation Philosophy and Program Design

 

 12

 

Compensation Consultant

 

 13

 

Elements of Executive Compensation

 

 14

 

Tax and Accounting Implications

 

 20

 

Conclusion

 

 21

 

Report of the Compensation Committee of Avid’s Board of Directors

 

21

 

Summary Compensation Table for Fiscal Year 2006

 

22

 

Grants of Plan-Based Awards for Fiscal Year 2006

 

24

 

Outstanding Equity Awards at 2006 Fiscal Year-End

 

25

 

Option Exercises and Stock Vested for Fiscal Year 2006

 

27

 

Non-Qualifed Deferred Compensation for Fiscal Year 2006

 

28

 

Severance and Change-in-Control Benefits

 

28

 

Equity Compensation Plan Information

 

33

 

Related Person Transaction Policy

 

35

 

Report of the Audit Committee of Avid’s Board of Directors

 

36

 

Independent Registered Public Accounting Firm Fees

 

38

 

Pre-Approval Policy and Procedures

 

38

 

Proposal 2—Ratification of Selection of Independent Registered Public Accounting Firm

 

39

 

Other Matters

 

40

 

Householding and Annual Meeting Materials

 

40

 

Proposals for our 2008 Annual Meeting of Stockholders

 

40

 

 

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