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Prepared and filed by St Ives Financial
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</table><p align="center"><font size="2" face="serif"><b><font face="serif" size="3">UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION</font></b><br><b>Washington, D.C. 20549</b></font></p>
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<p align="center"><b><font face="serif" size="3">FORM 8-K</font></b></p>
<p align="center"><font size="2" face="serif"><b>CURRENT REPORT<br>PURSUANT TO SECTION 13 OR 15(d) OF<br>THE SECURITIES EXCHANGE ACT OF 1934</b></font></p>
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<p align="center"><font size="2" face="serif"><b>Date of Report: October 19, 2005</b></font></p>
<p align="center"><font size="2" face="serif"><b><font face="serif" size="5">MIVA, Inc.</font></b><br><b>(Exact Name of Registrant as specified in its charter)</b></font></p>
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<td width="33%"><font size="2" face="serif"><b>Delaware </b></font></td>
<td width="33%"><font size="2" face="serif"><b>0-30428</b></font></td>
<td width="33%"><font size="2" face="serif"><b>88-0348835</b></font></td>
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<td><font size="2" face="serif">(State or other jurisdiction of<br>incorporation or organization)</font></td>
<td><font size="2" face="serif">(Commission File No.)</font></td>
<td><font size="2" face="serif">(IRS Employer Identification Number)</font></td>
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<p align="center"><font size="2" face="serif"><b>5220 Summerlin Commons Boulevard<br>Fort Myers, Florida 33907<br>(239) 561-7229</b><br>(Address, including zip code, and telephone number<br>including area code of Registrant&#146;s<br>principal executive offices)</font></p>
<p align="center"><font size="2" face="serif">(Former name or former address, if changed since last report)</font></p>
<p align="left"><font size="2" face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</font></p>
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<td align="left"><font size="2" face="serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td>
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<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></td>
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<td align="left"><font size="2" face="serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td>
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<p align="left"><font size="2" face="serif"><b>Item 1.01.&nbsp;&nbsp;Entry into a Material Definitive Agreement.</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October 19, 2005, MIVA, Inc. (&#8220;MIVA&#8221;) entered into Restricted Stock Unit Agreements and Option Cancellation Agreements with certain of its officers and directors.  Pursuant to these agreements, certain officers and directors exchanged an aggregate of 1,332,806 stock options held by them having an exercise price at or above $10 per share for an aggregate of 931,852 restricted stock units.  In addition, an aggregate of 118,593 restricted stock units were granted to an officer and a director.  The agreements, the terms of the exchange and the grant of restricted stock units were approved by the Compensation Committee of the Board of Directors of MIVA.  MIVA and the Compensation Committee of MIVA&#146;s
Board of Directors have consistently viewed appropriate equity incentives as a key element of its director and executive officer compensation policies and practices to attract, retain and motivate officers and directors.  The exchanges and grants were made in recognition that the related options were at prices well in excess of the current price of MIVA&#146;s common stock and were not providing the intended motivation.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
    options surrendered and the restricted stock units exchanged for those
    options were issued under MIVA&#146;s 1999 Stock Incentive Plan (&#8220;1999 Plan&#8221;).  The 118,593 restricted stock units were granted under MIVA&#146;s 2004 Stock Incentive Plan (&#8220;2004 Plan&#8221;).  Each restricted stock unit represents a contingent right to receive one share of MIVA&#146;s common stock.  The restricted stock units that were issued in exchange for options had an equivalent economic value, under the Black-Scholes option pricing model, to the options being exchanged.  The exchange ratio for restricted stock units to options was based on the closing price of MIVA&#146;s common stock on October 18,
2005.  The options that were exchanged to MIVA by the officers and directors were cancelled and 400,954 shares, representing the difference between the number of shares underlying the restricted stock units granted and the number of shares underlying stock options surrendered and cancelled, are available for future awards under MIVA&#146;s 1999 Plan.  </font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The restricted stock units vest as follows: 50% of the restricted stock units vest on October 19, 2006, and the remaining 50% of the restricted stock units vest on October 19, 2007.  The vesting of the restricted stock units may accelerate under certain circumstances, including upon any change in control of MIVA.  Additionally, a recipient typically will forfeit any unvested restricted stock units in the event of a termination of employment or service as a director.  However, in general with respect to officers, in the event of a without cause termination by MIVA, or a termination of employment by the officer for good reason, the restricted stock units would immediately vest and would not be forfeited. The forms of Restricted Stock Unit Agreements under the 1999 Plan and the 2004 Plan are substantially the same in all material respects.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
    following table sets forth the number of shares of MIVA restricted stock
    received and the number of shares of MIVA common stock underlying options
that were cancelled by (i) each of MIVA&#146;s named executive officers for the
fiscal year ended December 31, 2004, (ii) all participating directors, and
(iii)
all
other
officers
as a group:</font></p>
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<td align="left"><u><font size="2" face="serif"><b> Name</b></font></u></td>
<td width="25%" align="left"><font size="2" face="serif"><b> <u>Title</u></b></font></td>
<td width="25%" align="center"><u><font size="2" face="serif"><b> Cancelled Options</b></font></u></td>
<td width="25%" align="center"><font size="2" face="serif"><b>Restricted Stock
    Units <br>
	<u>Granted</u></b></font></td>
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  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Craig A. Pisaris-Henderson</font></td>
<td align="left"><font size="2" face="serif">Chairman and CEO</font></td>
<td align="center"><font size="2" face="serif">304,000</font></td>
<td align="center"><font size="2" face="serif">210,051</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Phillip Thune</font></td>
<td align="left"><font size="2" face="serif">President and Director</font></td>
<td align="center"><font size="2" face="serif">236,500</font></td>
<td align="center"><font size="2" face="serif">163,001</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">David C. Rae</font></td>
<td align="left"><font size="2" face="serif">Chief Strategy Officer</font></td>
<td align="center"><font size="2" face="serif">186,000</font></td>
<td align="center"><font size="2" face="serif">127,914</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Brenda Agius</font></td>
<td align="left"><font size="2" face="serif">SVP of Global Operations</font></td>
<td align="center"><font size="2" face="serif">126,000</font></td>
<td align="center"><font size="2" face="serif">&nbsp;&nbsp;87,795</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Anthony A. Garcia</font></td>
<td align="left"><font size="2" face="serif">Chief Technology Officer</font></td>
<td align="center"><font size="2" face="serif">115,500</font></td>
<td align="center"><font size="2" face="serif">&nbsp;&nbsp;80,291</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Sebastian Bishop</font></td>
<td width="22%" align="left"><font size="2" face="serif">Chief Marketing Officer and Director</font></td>
<td width="22%" align="center"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0</font></td>
<td width="22%" align="center"><font size="2" face="serif">&nbsp;114,257*</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Frederick E. Guest II</font></td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="center"><font size="2" face="serif">&nbsp;&nbsp;37,500</font></td>
<td align="center"><font size="2" face="serif">26,304</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Gerald W. Hepp</font></td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="center"><font size="2" face="serif">&nbsp;&nbsp;25,000</font></td>
<td align="center"><font size="2" face="serif">&nbsp;19,130</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Lee Simonson</font></td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="center"><font size="2" face="serif">&nbsp;&nbsp;25,000</font></td>
<td align="center"><font size="2" face="serif">&nbsp;18,115</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">Charles Rothstein</font></td>
<td align="left"><font size="2" face="serif">Director</font></td>
<td align="center"><font size="2" face="serif">&nbsp;&nbsp;12,500</font></td>
<td align="center"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;14,262*</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
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<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">All Others (6 persons)</font></td>
<td align="left"></td>
<td align="center"><font size="2" face="serif">264,806</font></td>
<td align="center"><font size="2" face="serif">189,325</font></td>
</tr>
</table>
<p align="left"><font size="2" face="serif">*  Of those amounts set forth in the table above, on October 19, 2005, Messrs. Bishop and Rothstein were granted 114,257 and 4,336 restricted stock units, respectively, under MIVA&#146;s 2004 Plan.  The sizes of the grants were determined on the basis of options issued, with an exercise price above $10 per share, under MIVA&#146;s 2004 Plan, computed on the same basis as the exchange of options for restricted stock units under MIVA&#146;s 1999 Plan.  Those options under MIVA&#146;s 2004 Plan remain outstanding. </font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The foregoing description is qualified in its entirety by reference to the Restricted Stock Unit Agreement and the Option Cancellation Agreement, forms of which are attached as Exhibits 10.1 and 10.2, respectively, and incorporated herein by reference.</font></p>
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<p align="left"><font size="2" face="serif"><b>Item 9.01.</b>&nbsp;&nbsp;<b>Financial Statements and</b> <b>Exhibits.</b></font></p>
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<td align="right" width="12%"><font size="2" face="serif"><i>(d) Exhibits.</i></font></td>
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<td></td>
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<td align="right"><font size="2" face="serif"><i>Exhibit No.</i></font></td>
<td align="left"></td>
<td align="left"><font size="2" face="serif"><i>Description</i></font></td>
</tr>
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<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
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<td align="right"><font size="2" face="serif">10.1+</font><br><br>
<font size="2" face="serif">10.2+</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Form of MIVA, Inc. Restricted Stock Unit Agreement</font><br><br>
<font size="2" face="serif">Form of Option Cancellation Agreement</font></td>
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<p align="left"><font size="2" face="serif" align="left">+&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Management Compensatory Contract or Plan</font></p>
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<p align="center"><font size="2" face="serif"><b>SIGNATURES</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
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<td colspan="2" align="left"><font size="2" face="serif">MIVA, Inc.</font></td>
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<td width="45%">&nbsp;</td>
<td width="5%">&nbsp;</td>
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<td align="left"><font size="2" face="serif">Date: October 21, 2005</font></td>
<td align="left"><font size="2" face="serif">By:</font></td>
<td align="left"><font size="2" face="serif">/s/ Craig A. Pisaris-Henderson </font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"></td>
<td align="left"></td>
<td align="left"><font size="2" face="serif">Craig A. Pisaris-Henderson </font></td>
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<td align="left"></td>
<td align="left"></td>
<td align="left"><font size="2" face="serif">Chairman and Chief Executive Officer</font></td>
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<p align="center"><font size="2" face="serif"><b>EXHIBIT INDEX</b></font></p>
<table width="100%" cellspacing="0" cellpadding="0" border="0">
<tr valign="top">
<td width="12%" align="right"><font size="2" face="serif"><i>Exhibit No.</i></font></td>
<td width="3%">&nbsp;</td>
<td><font size="2" face="serif"><i>Description</i></font></td>
</tr>
<tr valign="top">
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
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<td align="right"><font size="2" face="serif">10.1+</font><br><br><font size="2" face="serif">10.2+</font></td>
<td align="left"></td>
<td align="left"><font size="2" face="serif">Form of MIVA, Inc. Restricted Stock Unit Agreement</font><br><br>
<font size="2" face="serif">Form of Option Cancellation Agreement</font></td>
</tr>
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<p align="left"><font size="2" face="serif" align="left">+&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Management Compensatory Contract or Plan</font></p>
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Prepared and filed by St Ives Financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: October 19, 2005
MIVA, Inc.
(Exact Name of Registrant as specified in its charter)
Delaware
0-30428
88-0348835
(State or other jurisdiction of
incorporation or organization)
(Commission File No.)
(IRS Employer Identification Number)
5220 Summerlin Commons Boulevard
Fort Myers, Florida 33907
(239) 561-7229
(Address, including zip code, and telephone number
including area code of Registrant's
principal executive offices)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.  Entry into a Material Definitive Agreement.
On October 19, 2005, MIVA, Inc. ("MIVA") entered into Restricted Stock Unit Agreements and Option Cancellation Agreements with certain of its officers and directors.  Pursuant to these agreements, certain officers and directors exchanged an aggregate of 1,332,806 stock options held by them having an exercise price at or above $10 per share for an aggregate of 931,852 restricted stock units.  In addition, an aggregate of 118,593 restricted stock units were granted to an officer and a director.  The agreements, the terms of the exchange and the grant of restricted stock units were approved by the Compensation Committee of the Board of Directors of MIVA.  MIVA and the Compensation Committee of MIVA's
Board of Directors have consistently viewed appropriate equity incentives as a key element of its director and executive officer compensation policies and practices to attract, retain and motivate officers and directors.  The exchanges and grants were made in recognition that the related options were at prices well in excess of the current price of MIVA's common stock and were not providing the intended motivation.
The
    options surrendered and the restricted stock units exchanged for those
    options were issued under MIVA's 1999 Stock Incentive Plan ("1999 Plan").  The 118,593 restricted stock units were granted under MIVA's 2004 Stock Incentive Plan ("2004 Plan").  Each restricted stock unit represents a contingent right to receive one share of MIVA's common stock.  The restricted stock units that were issued in exchange for options had an equivalent economic value, under the Black-Scholes option pricing model, to the options being exchanged.  The exchange ratio for restricted stock units to options was based on the closing price of MIVA's common stock on October 18,
2005.  The options that were exchanged to MIVA by the officers and directors were cancelled and 400,954 shares, representing the difference between the number of shares underlying the restricted stock units granted and the number of shares underlying stock options surrendered and cancelled, are available for future awards under MIVA's 1999 Plan.
The restricted stock units vest as follows: 50% of the restricted stock units vest on October 19, 2006, and the remaining 50% of the restricted stock units vest on October 19, 2007.  The vesting of the restricted stock units may accelerate under certain circumstances, including upon any change in control of MIVA.  Additionally, a recipient typically will forfeit any unvested restricted stock units in the event of a termination of employment or service as a director.  However, in general with respect to officers, in the event of a without cause termination by MIVA, or a termination of employment by the officer for good reason, the restricted stock units would immediately vest and would not be forfeited. The forms of Restricted Stock Unit Agreements under the 1999 Plan and the 2004 Plan are substantially the same in all material respects.
The
    following table sets forth the number of shares of MIVA restricted stock
    received and the number of shares of MIVA common stock underlying options
that were cancelled by (i) each of MIVA's named executive officers for the
fiscal year ended December 31, 2004, (ii) all participating directors, and
(iii)
all
other
officers
as a group:
Name
Title
Cancelled Options
Restricted Stock
    Units
Granted
Craig A. Pisaris-Henderson
Chairman and CEO
304,000
210,051
Phillip Thune
President and Director
236,500
163,001
David C. Rae
Chief Strategy Officer
186,000
127,914
Brenda Agius
SVP of Global Operations
126,000
87,795
Anthony A. Garcia
Chief Technology Officer
115,500
80,291
Sebastian Bishop
Chief Marketing Officer and Director
0
114,257*
Frederick E. Guest II
Director
37,500
26,304
Gerald W. Hepp
Director
25,000
19,130
Lee Simonson
Director
25,000
18,115
Charles Rothstein
Director
12,500
14,262*
All Others (6 persons)
264,806
189,325
*  Of those amounts set forth in the table above, on October 19, 2005, Messrs. Bishop and Rothstein were granted 114,257 and 4,336 restricted stock units, respectively, under MIVA's 2004 Plan.  The sizes of the grants were determined on the basis of options issued, with an exercise price above $10 per share, under MIVA's 2004 Plan, computed on the same basis as the exchange of options for restricted stock units under MIVA's 1999 Plan.  Those options under MIVA's 2004 Plan remain outstanding.
The foregoing description is qualified in its entirety by reference to the Restricted Stock Unit Agreement and the Option Cancellation Agreement, forms of which are attached as Exhibits 10.1 and 10.2, respectively, and incorporated herein by reference.
Item 9.01.
Financial Statements and
Exhibits.
(d) Exhibits.
Exhibit No.
Description
10.1+
10.2+
Form of MIVA, Inc. Restricted Stock Unit Agreement
Form of Option Cancellation Agreement
+      Management Compensatory Contract or Plan
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MIVA, Inc.
Date: October 21, 2005
By:
/s/ Craig A. Pisaris-Henderson
Craig A. Pisaris-Henderson
Chairman and Chief Executive Officer
EXHIBIT INDEX
Exhibit No.
Description
10.1+
10.2+
Form of MIVA, Inc. Restricted Stock Unit Agreement
Form of Option Cancellation Agreement
+      Management Compensatory Contract or Plan