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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>As filed with the Securities and Exchange Commission on November&nbsp;6, 2007</B></DIV>

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</TD>
    <TD>&nbsp;</TD>
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</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top"><B>Registration Statement No.&nbsp;333-</B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>SAFEGUARD SCIENTIFICS, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


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    <TD align="center" valign="top"><B>Pennsylvania</B><BR>
(State of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>23-1609753</B><BR>
(I.R.S. Employer Identification No.)</TD>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>435 Devon Park Drive, Building 800, Wayne, PA 19087-1945</B><BR>
(Address of principal executive offices, including zip code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Employment Inducement Awards<BR>
Consisting of Non-Qualified Stock Options<BR>
Granted to Brian J. Sisko</B><BR>
(Full title of the plan)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Brian J. Sisko<BR>
Senior Vice President and General Counsel<BR>
Safeguard Scientifics, Inc.<BR>
435 Devon Park Drive, Building 800<BR>
Wayne, PA 19087-1945</B><BR>
(Name and Address of Agent for Service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(610)&nbsp;293-0600</B><BR>
(Telephone Number of Agent for Service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B></DIV>

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    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 1px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD width="1%" style="border-left: 1px double #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 1px double #000000">&nbsp;</TD>
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    <TD width="1%" style="border-left: 1px double #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount to</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Amount of</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 1px double #000000">&nbsp;</TD>
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    <TD width="1%" style="border-left: 1px double #000000">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of Each Class of Securities</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Be</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Offering Price</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registration</B></TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 1px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
 <TD width="1%" style="border-left: 1px double #000000">&nbsp;</TD>

    <TD nowrap align="center" ><B>to Be Registered</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Registered</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Per Share</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Offering Price</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Fee</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 1px double #000000">&nbsp;</TD>
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                    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, $.10 per share,
together <BR>
with related rights to
purchase Series&nbsp;A <BR>
Junior
Participating Preferred Stock</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" style="border-top: 1px solid #000000">1,000,000</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">2.106</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">2,106,000</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">64.65</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000;border-right: 1px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">

<TD nowrap align="left" colspan="23" style="border-top: 1px double #000000">&nbsp;</TD>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;416 under the Securities Act of 1933, this registration statement also
registers such additional shares as may hereinafter be offered or issued to prevent dilution
resulting from stock splits, stock dividends, recapitalizations or certain other capital
adjustments. Associated with each share of common stock is the right to purchase one
one-thousandth of a share of Series&nbsp;A Junior Participating Preferred Stock. The preferred
stock purchase rights do not carry a separate price.</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Calculated in accordance with Rule 457(h) under the Securities Act of 1933, based upon the
$2.106 exercise price of the stock options.</TD>
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</DIV>




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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="w41981exv5w1.htm">Opinion of Morgan, Lewis & Bockius LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="w41981exv23w1.htm">Consent of KPMG LLP</A></TD></TR>
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<!-- link1 "PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>

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<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;3.
&nbsp;&nbsp;&nbsp; <U><B>Incorporation of Documents by Reference</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The following documents, as filed by Safeguard Scientifics, Inc. (the &#147;Registrant&#148;), with the
Securities and Exchange Commission (the &#147;Commission&#148;) are incorporated by reference in this
registration statement:
</DIV>


<DIV style="margin-top: 12pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Annual Report on Form 10-K for the fiscal year ended December
31, 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Quarterly Reports on Form 10-Q for the quarterly periods ended
March&nbsp;31, 2007, June&nbsp;30, 2007 and September&nbsp;30, 2007.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Current Reports on Form 8-K filed with the Commission on
February&nbsp;26, 2007, March&nbsp;6, 2007, April&nbsp;27, 2007, May&nbsp;8, 2007, June&nbsp;11, 2007, July&nbsp;26,
2007, August&nbsp;20, 2007 and October&nbsp;25, 2007.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the common stock and preferred share purchase rights
contained on Forms&nbsp;8-A as have been filed with the Commission and amended from time to
time.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934 after the date of this registration statement and prior to the
filing of a post-effective amendment that indicates that all securities offered hereby have been
sold or that deregisters all securities then remaining unsold, shall be deemed to be incorporated
by reference in this registration statement and to be a part hereof from the date of filing of each
such document.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">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 hereof to the extent that a statement
contained herein (or in any other subsequently filed document that also is, or is deemed to be,
incorporated by reference herein) modifies or supersedes such statement. Any statement contained
in a document that is deemed to be incorporated by reference or deemed to be a part hereof after
the most recent effective date may modify or replace existing statements contained herein. Any
such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Experts</U>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The consolidated financial statements of the Registrant as of December&nbsp;31, 2006 and 2005, and for
each of the years in the three-year period ended December&nbsp;31, 2006, and management&#146;s assessment of
the effectiveness of internal control over financial reporting as of December&nbsp;31, 2006 have been
incorporated by reference herein in reliance upon the reports of KPMG LLP, independent registered
public accounting firm, incorporated by reference herein, and upon the authority of said firm as
experts in accounting and auditing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The audit report covering the December&nbsp;31, 2006 consolidated financial statements contains an
explanatory paragraph that describes the Registrant&#146;s adoption of SFAS No.&nbsp;123R, Share-Based
Payment, which was adopted on January&nbsp;1, 2006.
</DIV>

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<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;4.
&nbsp;&nbsp;&nbsp; <U><B>Description of Securities</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Not Applicable.
</DIV>

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<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;5.
&nbsp;&nbsp;&nbsp; <U><B>Interests of Named Experts and Counsel</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Not Applicable.
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;6.
&nbsp;&nbsp;&nbsp; <U><B>Indemnification of Directors and Officers</B></U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Chapter&nbsp;17, Subchapter D of the Pennsylvania Business Corporation Law of 1988, as amended (the
&#147;PBCL&#148;), contains provisions permitting indemnification of officers and directors of a business
corporation incorporated in Pennsylvania. Sections&nbsp;1741 and 1742 of the PBCL provide that a
business corporation may indemnify directors and officers against liabilities and expenses they may
incur as such in connection with any threatened, pending or completed civil, administrative or
investigative proceeding, provided that the particular person 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 corporation,
and, with respect to any criminal proceeding, had no reasonable cause to believe his or her conduct
was unlawful. In general, the power to indemnify under these sections does not exist in the case of
actions against a director or officer by or in the right of the corporation if the person otherwise
entitled to indemnification shall have been adjudged to be liable to the corporation unless it is
judicially determined that, despite the adjudication of liability but in view of all the
circumstances of the case, the person is fairly and reasonably entitled to indemnification for
specified expenses. Section&nbsp;1743 of the PBCL provides that the corporation is required to indemnify
directors and officers against expenses they may incur in defending actions against them in such
capacities if they are successful on the merits or otherwise in the defense of such actions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Section&nbsp;1713 of the PBCL permits the shareholders to adopt a bylaw provision relieving a director
(but not an officer) of personal liability for monetary damages except where (i)&nbsp;the director has
breached the applicable standard of care, and (ii)&nbsp;such conduct constitutes self-dealing, willful
misconduct or recklessness. This section also provides that a director may not be relieved of
liability for the payment of taxes pursuant to any federal, state or local law or of responsibility
under a criminal statute.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Section&nbsp;1746 of the PBCL provides that the indemnification provisions above are not exclusive of
the right to which a person seeking indemnification may be entitled under any bylaw, agreement,
vote of shareholders or disinterested directors or otherwise, except in circumstances where the act
or failure to act giving rise to the claim for indemnification is determined by a court to have
constituted willful misconduct or recklessness.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Section&nbsp;1747 of the PBCL permits a corporation to purchase and maintain insurance on behalf of any
person who is or was a director or officer of the corporation, or is or was serving at the request
of the corporation as a representative of another corporation or other enterprise, against any
liability asserted against such person and incurred by him or her in any such capacity, or arising
out of his or her status as such, whether or not the corporation would have the power to indemnify
the person against such liability under Chapter&nbsp;17, Subchapter D of the PBCL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;9th of the Registrant&#146;s Second Amended and Restated Articles of Incorporation (the
&#147;Articles&#148;) provides that a director or officer of the Registrant shall not be personally liable
for monetary damages as such (including, without limitation, any judgment, amount paid in
settlement, penalty, punitive damages or expense of any nature (including, without limitation,
attorneys&#146; fees and disbursements) for any action taken, or any failure to take any action, unless
the director or officer has breached or failed to perform the duties of his or her office under the
Articles or the Amended and Restated Bylaws (the &#147;Bylaws&#148;), of the Registrant or applicable
provisions of law and the breach or failure to perform constitutes self-dealing, willful misconduct
or recklessness.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Section&nbsp;12 of Article&nbsp;III of the Registrant&#146;s Bylaws also limits the personal liability of
directors for monetary damages for any action taken, or any failure to take any action, unless the
director has breached or failed to perform the duties of his or her office. The limitation on
monetary liability does not extend to breaches of duty constituting self-dealing, willful
misconduct or recklessness and does not relieve a director of liability for the payment of any
taxes pursuant to local, state or federal law, or liability or responsibility pursuant to any
criminal statute.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Article&nbsp;IX of the Registrant&#146;s Bylaws provides, except as expressly prohibited by law, an
unconditional right to indemnification for expenses and any liability paid or incurred by any
director or officer of the Registrant, or any other person designated by the board of directors as
an indemnified representative, in connection with any actual or threatened claim, action, suit or proceeding (including derivative
suits) in which he or she may be involved by reason of being or having been a director, officer,
employee or agent of the Registrant, or at Registrant&#146;s request, a director, officer, manager,
employee, agent, fiduciary or trustee of another corporation, partnership, limited liability
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">company, joint venture, trust, employee benefit plan or other entity or enterprise. The Bylaws
specifically authorize indemnification against both judgments and amounts paid in settlement of
derivative suits, as well as indemnification for punitive damages.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Unlike the provisions of PBCL Section&nbsp;1744, which sets forth procedures for effecting
indemnification (but consistent with Section&nbsp;1746 of the PBCL), Article&nbsp;IX of the Bylaws does not
require us to determine the availability of indemnification by first following certain prescribed
procedures. A person who has incurred an indemnifiable expense or liability has a right to be
indemnified independent of any procedures or determinations that otherwise would be required, and
that right is enforceable against us as long as indemnification is not prohibited by law. To the
extent indemnification is permitted only for a portion of a liability, the Bylaw provisions require
us to indemnify such portion. If the indemnification provided for in Article&nbsp;IX is unavailable for
any reason in respect of any liability or portion thereof, the Bylaws require us to make a
contribution toward the liability. Indemnification rights under the Bylaws do not depend upon the
approval of any future Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Section&nbsp;4 of Article&nbsp;IX of the Bylaws authorizes us to further effect or secure our indemnification
obligations by entering into indemnification agreements, maintaining insurance, creating a reserve,
trust, escrow, cash collateral or other fund or account, granting a security interest in our assets
or property, establishing a letter of credit or using any other means that may be available from
time to time. The Registrant maintains a directors&#146; and officers&#146; liability insurance policy that
affords directors and officers with insurance coverage for losses arising from claims based on
breaches of duty, negligence, error and other wrongful acts.
</DIV>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed" -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;7.
&nbsp;&nbsp;&nbsp; <U><B>Exemption from Registration Claimed</B></U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">None.
</DIV>
<!-- link2 "Item&nbsp;8. Exhibits" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;8.
&nbsp;&nbsp;&nbsp; <U><B>Exhibits</B></U>.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="78%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">

<TD nowrap align="left" style="border-bottom: 0px solid #000000">Exhibit
Number<div style="border-bottom: 1px solid #000000;font-size:1px;width:100%;margin-top:0px"></div></TD>
    <TD>&nbsp;</TD>

<TD nowrap align="left">Description&nbsp;<div style="border-bottom: 1px solid #000000;font-size:1px; width:9.5%;margin-top:0px"></div></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="white-space: nowrap">5.1 &#134;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Morgan, Lewis &#038; Bockius LLP</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stock Option Grant Certificates dated August&nbsp;20, 2007 for stock options
awarded to Brian J. Sisko to acquire an aggregate of 1,000,000 shares
(incorporated by reference to Exhibit&nbsp;10.3 of the Registrant&#146;s quarterly
report on Form&nbsp;10-Q for the quarter ended September&nbsp;30, 2007, as filed with
the Commission on November&nbsp;5, 2007)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="white-space: nowrap">23.1 &#134;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="white-space: nowrap">23.2 &#134;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Counsel (included in opinion filed as Exhibit&nbsp;5.1 hereto)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="white-space: nowrap">24.1 &#134;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included with signature page of this Registration Statement)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&#134;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD>Filed herewith</TD>
</TR>

</TABLE>
</DIV>
<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Item&nbsp;9.
&nbsp;&nbsp;&nbsp; <U><B>Undertakings</B></U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The undersigned Registrant hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
</DIV>

<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by section 10(a)(3) of the
Securities Act of 1933;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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;</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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;</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 4%"><I>provided</I>, <I>however</I>, that paragraphs (1)(i) and (1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant pursuant to
Section&nbsp;13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the registration statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 4%">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the Securities Act of 1933,
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.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 4%">(3)&nbsp;&nbsp;&nbsp;&nbsp;
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.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The undersigned Registrant hereby undertakes that, for purposes of determining any liability under
the Securities Act and each filing of the Registrant&#146;s annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 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.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Insofar as indemnification for liabilities arising under the Securities Act of 1933 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
Securities and Exchange Commission such indemnification is against public policy as expressed in
the 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 Act and
will be governed by the final adjudication of such issue.
</DIV>

<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><U><B>SIGNATURES</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Pursuant to the requirements of the Securities Act, 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 Wayne, PA on November&nbsp;6, 2007.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">SAFEGUARD SCIENTIFICS, INC.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PETER J. BONI</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peter J. Boni</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Act, this registration statement has been signed
below by the following persons in the capacities and on the dates indicated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Each person whose signature appears below hereby appoints Raymond J. Land and Brian J. Sisko, and
each of them acting individually, as his true and lawful attorneys-in-fact, with full power of
substitution and resubstitution, with the authority to execute in the name of each such person, and
to file with the Commission, together with any exhibits thereto and other documents therewith, any
and all amendments (including post-effective amendments) to this registration statement, and any
registration statements filed pursuant to General Instruction E to Form S-8 in respect of this
registration statement and any and all amendments thereto (including post-effective amendments and
all other related documents) necessary or advisable to enable the Registrant to comply with the
Securities Act, and any rules, regulations and requirements of the Commission in respect thereof,
which amendments or registration statements may make such other changes in the registration
statement as the aforesaid attorney-in-fact executing the same deems appropriate.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chief Executive
Officer and
President, and
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">PETER J. BONI
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director (Principal Executive Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Peter J. Boni</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Senior Vice President and Chief Financial
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">RAYMOND J. LAND
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Officer (Principal Financial and Accounting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Raymond J. Land
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">MICHAEL J. CODY
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Michael J. Cody</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">JULIE A. DOBSON
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Julie&nbsp;A. Dobson</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Chairman of the
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">ROBERT E. KEITH, JR.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Board of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert&nbsp;E. Keith,&nbsp;Jr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">ANDREW E. LIETZ
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Andrew E. Lietz</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">GEORGE MACKENZIE
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">George MacKenzie</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">George D. McClelland</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">JACK L. MESSMAN
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jack&nbsp;L. Messman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">JOHN W. PODUSKA, SR.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John&nbsp;W. Poduska, Sr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">JOHN J. ROBERTS
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">John&nbsp;J. Roberts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">ROBERT J. ROSENTHAL
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Dated: Nov. 6, 2007</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert J. Rosenthal</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

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<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
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<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="78%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="left" >Description<div style="border-bottom: 1px solid #000000;width:9.5%;font-size:1px">&nbsp;</div></TD>
</TR>

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<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1 &#134;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Morgan, Lewis &#038; Bockius LLP</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stock Option Grant Certificates dated August&nbsp;20, 2007 for stock options
awarded to Brian J. Sisko to acquire an aggregate of 1,000,000 shares
(Incorporated by reference to Exhibit&nbsp;10.3 of the Registrant&#146;s quarterly
report on Form&nbsp;10-Q for the quarter ended September&nbsp;30, 2007, as filed with
the Commission on November&nbsp;5, 2007)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1 &#134;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2 &#134;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Counsel (included in opinion filed as Exhibit&nbsp;5.1 hereto)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1 &#134;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included with signature page of this Registration Statement)</TD>
</TR>
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    <TD>&nbsp;</TD>
    <TD>Filed herewith</TD>
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sv8
Table of Contents
As filed with the Securities and Exchange Commission on November 6, 2007
Registration Statement No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
SAFEGUARD SCIENTIFICS, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania
(State of Incorporation)
23-1609753
(I.R.S. Employer Identification No.)
435 Devon Park Drive, Building 800, Wayne, PA 19087-1945
(Address of principal executive offices, including zip code)
Employment Inducement Awards
Consisting of Non-Qualified Stock Options
Granted to Brian J. Sisko
(Full title of the plan)
Brian J. Sisko
Senior Vice President and General Counsel
Safeguard Scientifics, Inc.
435 Devon Park Drive, Building 800
Wayne, PA 19087-1945
(Name and Address of Agent for Service)
(610) 293-0600
(Telephone Number of Agent for Service)
CALCULATION OF REGISTRATION FEE
Proposed
Proposed
Amount to
Maximum
Maximum
Amount of
Title of Each Class of Securities
Be
Offering Price
Aggregate
Registration
to Be Registered
Registered
(1)
Per Share
(2)
Offering Price
(2)
Fee
(2)
Common Stock, $.10 per share,
together
with related rights to
purchase Series A
Junior
Participating Preferred Stock
1,000,000
$
2.106
$
2,106,000
$
64.65
(1)
Pursuant to Rule 416 under the Securities Act of 1933, this registration statement also
registers such additional shares as may hereinafter be offered or issued to prevent dilution
resulting from stock splits, stock dividends, recapitalizations or certain other capital
adjustments. Associated with each share of common stock is the right to purchase one
one-thousandth of a share of Series A Junior Participating Preferred Stock. The preferred
stock purchase rights do not carry a separate price.
(2)
Calculated in accordance with Rule 457(h) under the Securities Act of 1933, based upon the
$2.106 exercise price of the stock options.
TABLE OF CONTENTS
PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
EXHIBIT INDEX
Opinion of Morgan, Lewis & Bockius LLP
Consent of KPMG LLP
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
.
The following documents, as filed by Safeguard Scientifics, Inc. (the "Registrant"), with the
Securities and Exchange Commission (the "Commission") are incorporated by reference in this
registration statement:
(1)
The Registrant's Annual Report on Form 10-K for the fiscal year ended December
31, 2006.
(2)
The Registrant's Quarterly Reports on Form 10-Q for the quarterly periods ended
March 31, 2007, June 30, 2007 and September 30, 2007.
(3)
The Registrant's Current Reports on Form 8-K filed with the Commission on
February 26, 2007, March 6, 2007, April 27, 2007, May 8, 2007, June 11, 2007, July 26,
2007, August 20, 2007 and October 25, 2007.
(4)
The description of the common stock and preferred share purchase rights
contained on Forms 8-A as have been filed with the Commission and amended from time to
time.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934 after the date of this registration statement and prior to the
filing of a post-effective amendment that indicates that all securities offered hereby have been
sold or that deregisters all securities then remaining unsold, shall be deemed to be incorporated
by reference in this registration statement and to be a part hereof from the date of filing of each
such document.
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 hereof to the extent that a statement
contained herein (or in any other subsequently filed document that also is, or is deemed to be,
incorporated by reference herein) modifies or supersedes such statement. Any statement contained
in a document that is deemed to be incorporated by reference or deemed to be a part hereof after
the most recent effective date may modify or replace existing statements contained herein. Any
such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part hereof.
Experts
The consolidated financial statements of the Registrant as of December 31, 2006 and 2005, and for
each of the years in the three-year period ended December 31, 2006, and management's assessment of
the effectiveness of internal control over financial reporting as of December 31, 2006 have been
incorporated by reference herein in reliance upon the reports of KPMG LLP, independent registered
public accounting firm, incorporated by reference herein, and upon the authority of said firm as
experts in accounting and auditing.
The audit report covering the December 31, 2006 consolidated financial statements contains an
explanatory paragraph that describes the Registrant's adoption of SFAS No. 123R, Share-Based
Payment, which was adopted on January 1, 2006.
Item 4.
Description of Securities
.
Not Applicable.
Item 5.
Interests of Named Experts and Counsel
.
Not Applicable.
Table of Contents
Item 6.
Indemnification of Directors and Officers
.
Chapter 17, Subchapter D of the Pennsylvania Business Corporation Law of 1988, as amended (the
"PBCL"), contains provisions permitting indemnification of officers and directors of a business
corporation incorporated in Pennsylvania. Sections 1741 and 1742 of the PBCL provide that a
business corporation may indemnify directors and officers against liabilities and expenses they may
incur as such in connection with any threatened, pending or completed civil, administrative or
investigative proceeding, provided that the particular person 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 corporation,
and, with respect to any criminal proceeding, had no reasonable cause to believe his or her conduct
was unlawful. In general, the power to indemnify under these sections does not exist in the case of
actions against a director or officer by or in the right of the corporation if the person otherwise
entitled to indemnification shall have been adjudged to be liable to the corporation unless it is
judicially determined that, despite the adjudication of liability but in view of all the
circumstances of the case, the person is fairly and reasonably entitled to indemnification for
specified expenses. Section 1743 of the PBCL provides that the corporation is required to indemnify
directors and officers against expenses they may incur in defending actions against them in such
capacities if they are successful on the merits or otherwise in the defense of such actions.
Section 1713 of the PBCL permits the shareholders to adopt a bylaw provision relieving a director
(but not an officer) of personal liability for monetary damages except where (i) the director has
breached the applicable standard of care, and (ii) such conduct constitutes self-dealing, willful
misconduct or recklessness. This section also provides that a director may not be relieved of
liability for the payment of taxes pursuant to any federal, state or local law or of responsibility
under a criminal statute.
Section 1746 of the PBCL provides that the indemnification provisions above are not exclusive of
the right to which a person seeking indemnification may be entitled under any bylaw, agreement,
vote of shareholders or disinterested directors or otherwise, except in circumstances where the act
or failure to act giving rise to the claim for indemnification is determined by a court to have
constituted willful misconduct or recklessness.
Section 1747 of the PBCL permits a corporation to purchase and maintain insurance on behalf of any
person who is or was a director or officer of the corporation, or is or was serving at the request
of the corporation as a representative of another corporation or other enterprise, against any
liability asserted against such person and incurred by him or her in any such capacity, or arising
out of his or her status as such, whether or not the corporation would have the power to indemnify
the person against such liability under Chapter 17, Subchapter D of the PBCL.
Article 9th of the Registrant's Second Amended and Restated Articles of Incorporation (the
"Articles") provides that a director or officer of the Registrant shall not be personally liable
for monetary damages as such (including, without limitation, any judgment, amount paid in
settlement, penalty, punitive damages or expense of any nature (including, without limitation,
attorneys' fees and disbursements) for any action taken, or any failure to take any action, unless
the director or officer has breached or failed to perform the duties of his or her office under the
Articles or the Amended and Restated Bylaws (the "Bylaws"), of the Registrant or applicable
provisions of law and the breach or failure to perform constitutes self-dealing, willful misconduct
or recklessness.
Section 12 of Article III of the Registrant's Bylaws also limits the personal liability of
directors for monetary damages for any action taken, or any failure to take any action, unless the
director has breached or failed to perform the duties of his or her office. The limitation on
monetary liability does not extend to breaches of duty constituting self-dealing, willful
misconduct or recklessness and does not relieve a director of liability for the payment of any
taxes pursuant to local, state or federal law, or liability or responsibility pursuant to any
criminal statute.
Article IX of the Registrant's Bylaws provides, except as expressly prohibited by law, an
unconditional right to indemnification for expenses and any liability paid or incurred by any
director or officer of the Registrant, or any other person designated by the board of directors as
an indemnified representative, in connection with any actual or threatened claim, action, suit or proceeding (including derivative
suits) in which he or she may be involved by reason of being or having been a director, officer,
employee or agent of the Registrant, or at Registrant's request, a director, officer, manager,
employee, agent, fiduciary or trustee of another corporation, partnership, limited liability
Table of Contents
company, joint venture, trust, employee benefit plan or other entity or enterprise. The Bylaws
specifically authorize indemnification against both judgments and amounts paid in settlement of
derivative suits, as well as indemnification for punitive damages.
Unlike the provisions of PBCL Section 1744, which sets forth procedures for effecting
indemnification (but consistent with Section 1746 of the PBCL), Article IX of the Bylaws does not
require us to determine the availability of indemnification by first following certain prescribed
procedures. A person who has incurred an indemnifiable expense or liability has a right to be
indemnified independent of any procedures or determinations that otherwise would be required, and
that right is enforceable against us as long as indemnification is not prohibited by law. To the
extent indemnification is permitted only for a portion of a liability, the Bylaw provisions require
us to indemnify such portion. If the indemnification provided for in Article IX is unavailable for
any reason in respect of any liability or portion thereof, the Bylaws require us to make a
contribution toward the liability. Indemnification rights under the Bylaws do not depend upon the
approval of any future Board of Directors.
Section 4 of Article IX of the Bylaws authorizes us to further effect or secure our indemnification
obligations by entering into indemnification agreements, maintaining insurance, creating a reserve,
trust, escrow, cash collateral or other fund or account, granting a security interest in our assets
or property, establishing a letter of credit or using any other means that may be available from
time to time. The Registrant maintains a directors' and officers' liability insurance policy that
affords directors and officers with insurance coverage for losses arising from claims based on
breaches of duty, negligence, error and other wrongful acts.
Item 7.
Exemption from Registration Claimed
.
None.
Item 8.
Exhibits
.
Exhibit
Number
Description
5.1 †
Opinion of Morgan, Lewis & Bockius LLP
10.1
Stock Option Grant Certificates dated August 20, 2007 for stock options
awarded to Brian J. Sisko to acquire an aggregate of 1,000,000 shares
(incorporated by reference to Exhibit 10.3 of the Registrant's quarterly
report on Form 10-Q for the quarter ended September 30, 2007, as filed with
the Commission on November 5, 2007)
23.1 †
Consent of KPMG LLP
23.2 †
Consent of Counsel (included in opinion filed as Exhibit 5.1 hereto)
24.1 †
Power of Attorney (included with signature page of this Registration Statement)
†
Filed herewith
Item 9.
Undertakings
.
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 of 1933;
(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;
Table of Contents
(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 (1)(i) and (1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the registration statement.
(2)     That, for the purpose of determining any liability under the Securities Act of 1933,
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.
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under
the Securities Act and each filing of the Registrant's annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 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.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 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
Securities and Exchange Commission such indemnification is against public policy as expressed in
the 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 Act and
will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act, 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 Wayne, PA on November 6, 2007.
SAFEGUARD SCIENTIFICS, INC.
By:
PETER J. BONI
Peter J. Boni
President and Chief Executive Officer
Table of Contents
Pursuant to the requirements of the Securities Act, this registration statement has been signed
below by the following persons in the capacities and on the dates indicated.
Each person whose signature appears below hereby appoints Raymond J. Land and Brian J. Sisko, and
each of them acting individually, as his true and lawful attorneys-in-fact, with full power of
substitution and resubstitution, with the authority to execute in the name of each such person, and
to file with the Commission, together with any exhibits thereto and other documents therewith, any
and all amendments (including post-effective amendments) to this registration statement, and any
registration statements filed pursuant to General Instruction E to Form S-8 in respect of this
registration statement and any and all amendments thereto (including post-effective amendments and
all other related documents) necessary or advisable to enable the Registrant to comply with the
Securities Act, and any rules, regulations and requirements of the Commission in respect thereof,
which amendments or registration statements may make such other changes in the registration
statement as the aforesaid attorney-in-fact executing the same deems appropriate.
Signature
Title
Date
Chief Executive
Officer and
President, and
Dated: Nov. 6, 2007
PETER J. BONI
Director (Principal Executive Officer)
Peter J. Boni
Senior Vice President and Chief Financial
Dated: Nov. 6, 2007
RAYMOND J. LAND
Officer (Principal Financial and Accounting
Raymond J. Land
Officer)
Dated: Nov. 6, 2007
MICHAEL J. CODY
Director
Michael J. Cody
Dated: Nov. 6, 2007
JULIE A. DOBSON
Director
Julie A. Dobson
Chairman of the
Dated: Nov. 6, 2007
ROBERT E. KEITH, JR.
Board of Directors
Robert E. Keith, Jr.
Dated: Nov. 6, 2007
ANDREW E. LIETZ
Director
Andrew E. Lietz
Dated: Nov. 6, 2007
GEORGE MACKENZIE
Director
George MacKenzie
Dated: Nov.
, 2007
Director
George D. McClelland
Dated: Nov. 6, 2007
JACK L. MESSMAN
Director
Jack L. Messman
Dated: Nov. 6, 2007
JOHN W. PODUSKA, SR.
Director
John W. Poduska, Sr.
Dated: Nov. 6, 2007
JOHN J. ROBERTS
Director
John J. Roberts
ROBERT J. ROSENTHAL
Director
Dated: Nov. 6, 2007
Robert J. Rosenthal
Table of Contents
EXHIBIT INDEX
Exhibit Number
Description
5.1 †
Opinion of Morgan, Lewis & Bockius LLP
10.1
Stock Option Grant Certificates dated August 20, 2007 for stock options
awarded to Brian J. Sisko to acquire an aggregate of 1,000,000 shares
(Incorporated by reference to Exhibit 10.3 of the Registrant's quarterly
report on Form 10-Q for the quarter ended September 30, 2007, as filed with
the Commission on November 5, 2007)
23.1 †
Consent of KPMG LLP
23.2 †
Consent of Counsel (included in opinion filed as Exhibit 5.1 hereto)
24.1 †
Power of Attorney (included with signature page of this Registration Statement)
†
Filed herewith