Securities to be offered to employees in employee benefit plans



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As filed with the Securities and Exchange Commission on December 9, 2020






Registration No. 333-




















UNITED STATES




SECURITIES AND EXCHANGE COMMISSION




Washington, D.C. 20549




___________________________




FORM S-8




REGISTRATION STATEMENT




UNDER




THE SECURITIES ACT OF 1933




___________________________










WASHINGTON FEDERAL INC




(Exact name of registrant as specified in its charter)




____________________________________










































































Washington





91-1661606





(State or other jurisdiction of incorporation or organization)












(I.R.S. Employer Identification No.)








425 Pike Street





Seattle





Washington





98101






(Address of Principal Executive Offices)






(Zip Code)







Registrant’s telephone number, including area code (206) 624-7930










___________________________










Washington Federal, Inc. 2020 Incentive Plan




(Full title of the plan)










___________________________










Brent J. Beardall




President and Chief Executive Officer




Washington Federal, Inc.




425 Pike Street




Seattle, Washington 98101




(206) 624-7930




(Name, address, including zip code, and telephone number 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 the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” 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



























































Title of Securities




to be Registered





Amount to be




Registered


(1)





Proposed Maximum




Offering Price Per Share


(2)




Proposed Maximum Aggregate


Offering Price




Amount of




Registration Fee





Common Stock, $1.00 par value per share


(3)





3,200,000 shares




$24.31



$77,792,000.00



$8,487.11





_________________




(1)




Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the “Securities Act”), this registration statement also covers any additional shares of the registrant’s common stock that become issuable under the Washington Federal, Inc. Incentive Plan (the “2020 Plan”) by reason of any recapitalization, stock split, stock dividend or other similar transaction effected without receipt of consideration where the registrant’s outstanding shares of common stock are increased, converted or exchanged.




(2)




Estimated in accordance with Rule 457(c) solely for purposes of calculating the registration fee. The maximum price per share and the maximum aggregate offering price are based on the average of the $24.61 (high) and $24.02 (low) sale price of the Registrant's Common Stock as reported on the Nasdaq Stock Market on December 2, 2020, which date is within five business days prior to filing this Registration Statement.




(3)




Represents shares of the registrant’s common stock available for issuance under the 2020 Plan.
























































EXPLANATORY NOTE










Washington Federal, Inc. (the “Registrant” or the “Company”) has filed this Registration Statement on Form S-8 (this “Registration Statement”) with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), to register (i) 3,200,000 shares of the Company’s common stock, $1.00 par value per share (the “Common Stock”), issuable pursuant to awards under the Washington Federal, Inc. 2020 Incentive Plan (the “2020 Plan”) and (ii) such indeterminate number of shares as may become available under the 2020 Plan as a result of the adjustment provisions thereof.




The 2020 Plan was approved by the Company’s Board of Directors on October 29, 2019,




and was approved and adopted by the Company’s shareholders on January 22, 2020.




































PART I










INFORMATION REQUIRED IN THE SECTION 10(a


)


PROSPECTUS










Item 1.




Plan Information.










The document(s) containing the information specified in Part I of Form S-8 will be sent or given to participants in the 2020 Plan in accordance with Rule 428(b)(1) under the Securities Act. Such documents are not required to be and are not being filed with the Commission either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act, but constitute, along with the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II hereof, a prospectus that meets the requirements of Section 10(a) of the Securities Act.
















Item 2.




Registrant Information and Employee Plan Annual Information.










The Company will furnish without charge to each person to whom the prospectus is delivered, upon the written or oral request of such person, a copy of any and all of the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II hereof, other than exhibits to such documents (unless such exhibits are specifically incorporated by reference in such documents that are incorporated), and the other documents required to be delivered to eligible participants in the 2020 Plan pursuant to Rule 428(b) under the Securities Act. Those documents are incorporated by reference in the Section 10(a) prospectus. Requests should be directed to:










Washington Federal, Inc. 425 Pike Street Seattle, Washington 98101 Attn: Chief Financial Officer






















PART II










INFORMATION REQUIRED IN THE REGISTRATION STATEMENT










Item 3.




Incorporation of Documents by Reference.










The Company hereby incorporates by reference into this Registration Statement the following documents, which have been previously filed (not furnished) with the Commission:




(a)




The Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2020 (File No. 001-34654); and




(b)




The description of the Registrant's common stock contained in its Registration Statement on Form 8-B (File No. 001-34654), filed by the Registrant with the Commission on January 26, 1995, including any amendments or reports filed for the purpose of updating this description.










In addition, all other documents filed (not furnished) by the Company pursuant to Section 13(a), Section 13(c), Section 14 or Section 15(d) of the Exchange Act on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered hereby have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated in this Registration Statement by reference and to be a part of this Registration Statement from the date of filing of such documents;


provided


,


however


, that documents or information deemed to have been furnished to and not filed with the Commission in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement.










Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.










Item 4.




Description of Securities.










Not applicable.










Item 5.




Interests of Named Experts and Counsel.






























The opinion of counsel as to the legality of the securities being registered, which is Exhibit 5.1 to this Registration Statement, is rendered by Justin Monroe, Legal Counsel of the Company. Mr. Monroe is compensated by the Company as an employee, and owns or has rights to acquire 1,979 unvested options to purchase shares of the Company’s outstanding Common Stock.










Item 6.




Indemnification of Directors and Officers.










Sections 23B.08.500 through 23B.08.603 of the Washington Business Corporation Act, or the WBCA, authorize a court to award, or a corporation's board of directors to grant, indemnification to directors and officers on terms sufficiently broad to permit indemnification under certain circumstances for liabilities arising under the Securities Act of 1933. Article 8 of our Restated Articles and Article VI of our Amended and Restated Bylaws provides for indemnification of the Registrant's directors, officers, employees and agents to the maximum extent permitted by Washington law. The directors and officers of the Company also may be indemnified against liability they may incur for serving in such capacity pursuant to a liability insurance policy we maintain for such purpose.










Section 23B.08.320 of the WBCA authorizes a corporation to limit a director's liability to the corporation or its shareholders for monetary damages for acts or omissions as a director, except in certain circumstances involving intentional misconduct or knowing violations of law, unlawful corporate distributions, or any transaction from which the director personally receives a benefit in money, property or services to which the director is not legally entitled. Article 9 of our Restated Articles of Incorporation contains provisions implementing, to the fullest extent permitted by Washington law, such limitations on a director's liability to the Company and its shareholders.










In addition to the indemnification provided by our bylaws, prior to the closing of this offering, we will have entered into agreements to indemnify our directors and executive officers. These agreements, among other things, will require us to indemnify these directors and officers for certain expenses, including attorneys' fees, judgments, fines and settlement amounts incurred by any such person in any action or proceeding, including any action by or in our right, arising out of that person's services as a director or officer of us or any of our subsidiaries or any other company or enterprise to which the person provides services at our request. These indemnification provisions and the indemnification agreements may be sufficiently broad to permit indemnification of our officers and directors for liabilities, including reimbursement of expenses incurred, arising under the Securities Act. We also intend to maintain director and officer liability insurance, if available on reasonable terms, that could apply even in the event we are not required to indemnify the insured person.










The above discussion of the WBCA and the Registrant's Amended and Restated Bylaws and Restated Articles of Incorporation is not intended to be exhaustive and is qualified in its entirety by reference to the WBCA, the Amended and Restated Bylaws and the Restated Articles of Incorporation.










Item 7.




Exemption from Registration Claimed.










Not applicable.










Item 8.




Exhibits.










The following exhibits are filed with or incorporated by reference into this Registration Statement:
















































































































































Exhibit No.




Description












































































Item 9.




Undertakings.










(a) The 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 the 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 the 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 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 the Registration Statement or any material change to such information in the Registration Statement;




Provided, however


, that paragraphs (a)(1)(i) and (a)(1)(ii) herein 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 the 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 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 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 the 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 the 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 final adjudication of such issue.


























SIGNATURES










Pursuant to the requirements of the Securities Act of 1933, as amended, 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 Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Seattle, State of Washington, on December 9, 2020.












































































































December 9, 2020






WASHINGTON FEDERAL, INC.











By:




/s/ BRENT J. BEARDALL









Brent J. Beardall









President and Chief Executive Officer

































POWER OF ATTORNEY










KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Brent J. Beardall and Vincent L. Beatty, and each of them, as his or her true and lawful attorneys-in-fact and agents, with full power of substitution for him or her in any and all capacities, to sign (i) any and all amendments (including post-effective amendments) to this Registration Statement and (ii) any registration statement or post-effective amendment thereto to be filed with the U.S. Securities and Exchange Commission pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the U.S. Securities and Exchange 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 and necessary to be done in connection therewith, as fully to all intents and purposes as he or she 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 or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.




Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.


















































































































/s/ Brent J. Beardall



December 9, 2020



Brent J. Beardall


Director, President and Chief Executive Officer


(Principal Executive Officer)






/s/ Vincent L. Beatty



December 9, 2020



Vincent L. Beatty


Executive Vice President and Chief Financial Officer


(Principal Financial Officer)






/s/ Cory D. Stewart



December 9, 2020



Cory D. Stewart


Senior Vice President and Principal Accounting Officer


(Principal Accounting Officer)






/s/ Thomas J. Kelley



December 9, 2020




Thomas J. Kelley, Chairman of the Board







/s/ Linda S. Brower



December 9, 2020



Linda S. Brower, Director






/s/ Stephen M. Graham



December 9, 2020




Stephen M. Graham, Director







/s/ David K. Grant



December 9, 2020




David K. Grant, Director







/s/ S. Steven Singh



December 9, 2020




S. Steven Singh, Director







/s/ Barbara L. Smith



December 9, 2020



Barbara L. Smith, Director






/s/ Mark N. Tabbutt



December 9, 2020




Mark N. Tabbutt, Director












/s/ Randall H. Talbot




December 9, 2020




Randall H. Talbot, Director

















The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

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