UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report:
(Date of earliest event reported) September 25, 2003
Multimedia Games, Inc.
(Exact name of registrant as specified in its charter)
0-28318
(Commission File Number)
Texas 74-2611034
(State or other jurisdiction (IRS Employer
of incorporation) Identification No.)
206 Wild Basin Rd., Bldg. B, Suite 400, 78746
Austin, Texas (Zip Code)
(Address of principal executive offices)
(512) 334-7500
(Registrant's telephone number, including area code)
Item 5. Other Events.
Gordon Graves, the Chairman of the Board of Directors of the Multimedia Games,
Inc. (the "Company"), has entered into a Rule 10b5-1 trading plan with Merrill
Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch"), pursuant to which
Merrill Lynch is to sell on behalf of Mr. Graves up to 500,000 shares of the
Company's common stock held by Mr. Graves. Portions of the shares may be sold
any time the stock achieves certain prearranged minimum prices, and may take
place beginning on August 27, 2003 and ending on August 27, 2004, unless sooner
terminated. Mr. Graves will have no control over the timing of any sales under
the plan and there can be no assurance that the shares covered by the plan
actually will be sold. Mr. Graves entered into the plan in order to diversify
his financial holdings, although he will continue to have a significant
ownership interest in the Company.
This trading plan is intended to comply with Rule 10b5-1 of the Securities
Exchange Act of 1934, as amended, and the Company's insider trading policy. Rule
10b5-1 allows corporate insiders to establish prearranged written plans to buy
or sell a specified number of shares of a company stock over a set period of
time. A plan must be entered into in good faith at a time when the insider is
not in possession of material, nonpublic information. Subsequent receipt by the
insider of material, nonpublic information will not prevent transactions under
the plans from being executed.
The trading thresholds in the plan were established solely by Mr. Graves and do
not reflect the views of Multimedia Games or its management regarding likely or
possible trading levels during the term of the plan.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. Description
---------- -----------
99.1 Rule 10b5-1 Sales Plan for Gordon Graves
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MULTIMEDIA GAMES, INC.
Dated: September 25, 2003 By: /s/Craig S. Nouis
-------------------------------
Craig S. Nouis
Chief Financial Officer and
Principal Accounting Officer
EXHIBIT INDEX
Exhibit No. Description
---------- -----------
99.1 Rule 10b5-1 Sales Plan for Gordon Graves