As filed with the Securities and Exchange Commission on May 3, 2019
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
MRC GLOBAL INC.
(Exact name of registrant as specified in its charter)
Delaware | 20-5956993 | |
(State or other jurisdiction of incorporation or organization) |
(I.R.S Employer Identification No.) |
Fulbright Tower
1301 McKinney Street, Suite 2300
Houston, Texas 77010
(877) 294-7574
(Address, including zip code and telephone number, including area code, of registrants principal executive offices)
MRC GLOBAL INC. 2011 OMNIBUS INCENTIVE PLAN, as amended
(Full title of the plan)
Daniel J. Churay
Executive Vice President Corporate Affairs, General Counsel and Corporate Secretary
MRC Global Inc.
Fulbright Tower
1301 McKinney Street, Suite 2300
Houston, Texas 77010
Telephone: (877) 294-7574
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
Brian P. Fenske
Norton Rose Fulbright US LLP
Fulbright Tower
1301 McKinney, Suite 5100
Houston, Texas 77010
Telephone: (713) 651-5557
Facsimile: (713) 651-5246
(Name, address, and telephone number, including area code, of agent for service)
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 definition of large accelerated filer, accelerated filer, smaller reporting company and emerging growth company in in Rule 12b-2 of the Exchange Act.
Large accelerated filer | ☒ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☐ | Smaller reporting company | ☐ | |||
Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
CALCULATION OF REGISTRATION FEE
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Title of securities to be registered |
Amount to be registered (1) |
Proposed maximum offering price per share |
Proposed maximum aggregate offering price |
Amount of registration fee | ||||
Common Stock, $0.01 par value per share |
2,500,000 shares (2) | $17.08 (3) | $42,700,000 | $5,176 | ||||
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|
(1) | This Registration Statement also includes such additional number of shares of MRC Global Inc. common stock, par value $0.01 (Common Stock), issuable under the MRC Global Inc. 2011 Omnibus Incentive Plan, as amended (the 2011 Plan), as may be required in the event of a stock split, stock dividend or similar transaction in accordance with Rule 416 of the Securities Act of 1933, as amended (the Securities Act). |
(2) | Represents 2,500,000 additional shares of Common Stock reserved for future issuances under the 2011 Plan. |
(3) | Estimated solely for purposes of calculating the registration fee in accordance with Rules 457(c) and 457(h) of the Securities Act, based upon the average of the high and low prices of Common Stock on May 1, 2019, as reported on the New York Stock Exchange, of $17.08. |
EXPLANATORY NOTE
On April 30, 2019, at the 2019 Annual Meeting of Stockholders of MRC Global Inc. (the Company), the Companys stockholders approved an amendment (the Amendment) to the MRC Global Inc. 2011 Omnibus Incentive Plan, as amended (the Plan). The Amendment provides that an additional 2,500,000 shares of the Companys common stock, par value $0.01 per share (the Common Stock) may be issued under the Plan (the Additional Shares).
This Registration Statement on Form S-8 (this Registration Statement) is being filed by the Company to register the Additional Shares. These shares are in addition to the 3,250,000 shares of Common Stock, that may be issued under the Plan pursuant to the Companys Registration Statement on Form S-8 (File No. 333-180777) filed with the Securities and Exchange Commission (the Commission) on April 17, 2012, and the Registration Statement on Form S-8 (File No. 333-206455) filed on August 18, 2015, to provide for an additional 4,250,000 shares (less the 102,525 Remaining Shares, which is defined therein) of Common Stock that maybe issued under the Plan (together, the Prior Registration Statements). Pursuant to General Instruction E to Form S-8 under the Securities Act of 1933, as amended (the Securities Act), the contents of the Prior Registration Statements are incorporated by reference into this Registration Statement, except to the extent supplemented, amended and superseded by the information set forth herein.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 8. Exhibits.
* | Filed herewith. |
SIGNATURES
Pursuant to the requirements of the Securities Act, MRC Global Inc. 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 Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Houston, State of Texas, on May 3, 2019.
MRC GLOBAL INC. | ||
By: | /s/ Daniel J. Churay | |
Daniel J. Churay | ||
Executive Vice President Corporate Affairs, General Counsel and Corporate Secretary |
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below, the undersigned officers and directors of MRC Global Inc., hereby severally constitute and appoint Andrew R. Lane, James E. Braun and Daniel J. Churay, and each of them singly (with full power to each of them to act alone), his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution in each of them for him and in his name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Name |
Title |
Date | ||
/s/ Andrew R. Lane Andrew R. Lane |
President and Chief Executive Officer (principal executive officer) |
May 3, 2019 | ||
/s/ James E. Braun James E. Braun |
Executive Vice President and Chief Financial Officer (principal financial officer) |
May 3, 2019 |
/s/ Elton R. Bond Elton R. Bond |
Senior Vice President and Chief Accounting Officer (principal accounting officer) |
May 3, 2019 | ||
/s/ Rhys J. Best Rhys J. Best |
Chairman | May 3, 2019 | ||
/s/ Deborah G. Adams |
Director | May 3, 2019 | ||
Deborah G. Adams | ||||
/s/ Leonard M. Anthony Leonard M. Anthony |
Director | May 3, 2019 | ||
/s/ Henry Cornell |
Director | May 3, 2019 | ||
Henry Cornell | ||||
/s/ Barbara J. Duganier Barbara J. Duganier |
Director | May 3, 2019 | ||
/s/ Craig Ketchum Craig Ketchum |
Director | May 3, 2019 | ||
/s/ Dr. Cornelis A. Linse Dr. Cornelis A. Linse |
Director | May 3, 2019 | ||
/s/ John A. Perkins John A. Perkins |
Director | May 3, 2019 | ||
/s/ H.B. Wehrle, III H.B. Wehrle, III |
Director | May 3, 2019 | ||
/s/ Robert L. Wood |
Director | May 3, 2019 | ||
Robert L. Wood |
Exhibit 5.1
Norton Rose Fulbright US LLP 1301 McKinney, Suite 5100 Houston, Texas 77010-3095 United States | ||
May 3, 2019 | Tel +1 713 651 5151 Fax +1 713 651 5246 nortonrosefulbright.com |
MRC Global Inc.
Fulbright Tower
1301 McKinney Street, Suite 2300
Houston, TX 77010
Ladies and Gentlemen:
We have acted as counsel to MRC Global Inc., a Delaware corporation (the Company), in connection with the registration under the Securities Act of 1933, as amended (the Securities Act), of an additional 2,500,000 shares (the Shares) of the Companys common stock, par value $0.01 per share, that are reserved for issuance under the MRC Global Inc. 2011 Omnibus Incentive Plan, as amended (the Plan), as described in the Companys Registration Statement on Form S-8 (as may subsequently be amended, the Registration Statement), which was filed with the Securities and Exchange Commission (the SEC) on May 3, 2019.
In connection with the foregoing, we have examined the Plan and originals or copies of certain corporate records of the Company, certificates and other communications of public officials, certificates of officers of the Company and such other documents as we have deemed relevant or necessary for the purpose of rendering the opinions expressed herein. As to questions of fact material to those opinions, we have, to the extent we deemed appropriate, relied on certificates of officers of the Company and on certificates and other communications of public officials. We have assumed that the persons identified to us as officers of the Company are actually serving as such and that any certificates representing the Shares will be properly executed by one or more such persons. We have assumed the effectiveness of the Registration Statement pursuant to the Securities Act. We have assumed the genuineness of all signatures on, and the authenticity of, all documents submitted to us as originals, the conformity to authentic original documents of all documents submitted to us as copies thereof, the due authorization, execution and delivery by the parties thereto other than the Company of all documents examined by us, that the Company will receive any required consideration for such Shares and the legal capacity of each individual who signed any of those documents.
MRC Global Inc.
May 3, 2019
Page 2
Based upon the foregoing, we are of the opinion that the Shares, when issued and sold in the manner referred to in the Plan and pursuant to the agreements that accompany the Plan, will be validly issued, fully paid and nonassessable.
The opinions expressed herein are limited exclusively to applicable federal laws of the United States of America, and applicable provisions of, respectively, the Delaware Constitution, the Delaware General Corporation Law and reported judicial interpretations of such law, in each case as currently in effect, and we are expressing no opinion as to the effect of the laws of any other jurisdiction.
We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and the reference to this firm wherever it appears in the Registration Statement. This consent is not to be construed as an admission that we are a party whose consent is required to be filed with the Registration Statement under the provisions of the Securities Act or the rules and regulations of the SEC promulgated thereunder.
Very truly yours, |
/s/ Norton Rose Fulbright US LLP |
Norton Rose Fulbright US LLP |
Norton Rose Fulbright US LLP is a limited liability partnership registered under the laws of Texas.
Norton Rose Fulbright US LLP, Norton Rose Fulbright LLP, Norton Rose Fulbright Australia, Norton Rose Fulbright Canada LLP, Norton Rose Fulbright South Africa (incorporated as Deneys Reitz, Inc.), each of which is a separate legal entity, are members of Norton Rose Fulbright Verein, a Swiss Verein. Details of each entity, with certain regulatory information, are at nortonrosefulbright.com. Norton Rose Fulbright Verein helps coordinate the activities of the members but does not itself provide legal services to clients.
Exhibit 23.1
Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the MRC Global Inc. 2011 Omnibus Incentive Plan, as amended, of our reports dated February 15, 2019, with respect to the consolidated financial statements of MRC Global Inc. and the effectiveness of internal control over financial reporting of MRC Global Inc., included in its Annual Report (Form 10-K) for the year ended December 31, 2018, filed with the Securities and Exchange Commission.
/s/ Ernst & Young LLP |
Houston, Texas |
May 3, 2019 |
Exhibit 99.3
AMENDMENT TO THE
MRC GLOBAL INC. 2011 OMNIBUS INCENTIVE PLAN
THIS AMENDMENT is made by MRC Global Inc. (the Company),
WITNESSETH:
WHEREAS, the Company sponsors and maintains the plan now known as the MRC Global Inc. 2011 Omnibus Incentive Plan, as amended (the Plan);
WHEREAS, unless the context clearly requires the contrary, capitalized terms that this Amendment uses that this Amendment does not define shall have the meaning that the Plan ascribes to those terms; and references to Articles and Sections mean the articles and sections of the Plan;
WHEREAS, Section 20.1(a) of the Plan authorizes the amendment of the Plan at any time;
WHEREAS, as amended, there were 7,397,475 Shares reserved and subject to issuance pursuant to the terms of the Plan;
WHEREAS, the Board and the Compensation Committee have determined that (i) the Plan should be amended to increase the number of Shares by 2,500,000 and (ii) that the number of shares that may be issued under the Plan should be increased to a total of 9,897,475 Shares.
NOW, THEREFORE, the Board and the Compensation Committee agree that, effective as of the date the shareholders of the Company approve the following amendment (the Effective Date), and contingent upon the shareholders approval of the amendments is amended and restated as follows:
1. Section 4.1 of the Plan is hereby amended and restated in its entirety to provide as follows:
4.1. Number of Shares Authorized and Available for Awards. Subject to adjustment as provided under the Plan and the following provisions of this Article 4, the total number of Shares that are available for Awards under the Plan shall be equal to 9,897,475. These Shares may be authorized and unissued Shares or treasury Shares or any combination of the foregoing, as the Board or Committee may determine from time to time. Any of the authorized Shares may be used for any type of Award under the Plan, and any or all of the Shares may be allocated to Incentive Stock Options.
Approved by the Compensation Committee of the Board of Directors
On February 11, 2019
Approved by the Board of Directors
On February 12, 2019