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<P ALIGN="CENTER"><FONT SIZE=2><B>As filed with the Securities and Exchange Commission on July&nbsp;24, 2002  </B></FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=2><B> Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D.C. 20549  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=5><B>FORM S-8<BR>  </B></FONT><FONT SIZE=2><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=5><B>PHOTON DYNAMICS,&nbsp;INC.<BR>  </B></FONT><FONT SIZE=2>(Exact name of registrant as specified in its charter) </FONT></P>

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<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2><B>California</B></FONT></TD>
<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2><B>94-3007502</B></FONT></TD>
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<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2>(State of incorporation)</FONT></TD>
<TD WIDTH="50%" ALIGN="CENTER"><FONT SIZE=2>(I.R.S. Employer Identification No.)</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2><B>17 GREAT OAKS BOULEVARD<BR>
SAN JOSE, CA 95119<BR>
(408)&nbsp;360-3550<BR>  </B></FONT><FONT SIZE=2>(Address of principal executive offices, including zip code) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>2001 EQUITY INCENTIVE PLAN<BR>  </B></FONT><FONT SIZE=2>(Full title of the plan) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>RICHARD L. DISSLY<BR>
CHIEF FINANCIAL OFFICER AND SECRETARY<BR>
PHOTON DYNAMICS,&nbsp;INC.<BR>
17 GREAT OAKS BOULEVARD<BR>
(408)&nbsp;360-3550<BR>  </B></FONT><FONT SIZE=2>(Name, address, including zip code, and telephone number, including area code, of agent for service) </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><B>Copies to:  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> BRETT D. WHITE, ESQ.<BR>
COOLEY GODWARD LLP<BR>
FIVE PALO ALTO SQUARE<BR>
3000 EL CAMINO REAL<BR>
PALO ALTO, CA 94306-2155<BR>
(650)&nbsp;843-5000  </B></FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><B> CALCULATION OF REGISTRATION FEE  </B></FONT></P>

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<TD WIDTH="34%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Title of Securities to be<BR>
Registered</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Amount to be Registered(1)</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Proposed Maximum Offering Price Per Share(2)</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Proposed Maximum Aggregate Offering Price(2)</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Amount of Registration Fee</B></FONT></TD>
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<TD WIDTH="34%"><FONT SIZE=2>Common Stock, no par value per share</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER"><FONT SIZE=2>250,000 shares</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER"><FONT SIZE=2>$26.08-$26.24</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER"><FONT SIZE=2>$6,550,698.08</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER"><FONT SIZE=2>$603.00</FONT></TD>
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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>This
Registration Statement shall cover any additional shares of Common Stock which become issuable under the plan set forth herein by reason of any stock dividend, stock split,
recapitalization or any other similar transaction without receipt of consideration which results in an increase in the number of shares of the Registrant's outstanding Common Stock. </FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD><FONT
SIZE=2>Estimated
solely for the purpose of calculating the amount of the registration fee pursuant to Rule&nbsp;457(h). The price per share and aggregate offering price of the shares to be
offered under the 2001 Equity Incentive Plan is based upon the (a)&nbsp;exercise price for shares issuable pursuant to outstanding options granted under the 2001 Equity Incentive Plan and
(b)&nbsp;the average of the high and low prices of the Registrant's Common Stock on July&nbsp;19, 2002 as reported on the Nasdaq National Market (pursuant to Rule&nbsp;457(c) under the Act) for
shares reserved for future issuance under the 2001 Equity Incentive Plan. The registration fee is calculated as follows: </FONT></DD></DL>
<BR>

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<TD WIDTH="49%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Plan</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Number of Shares</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Offering Price Per Share</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=1><B>Aggregate Offering Price</B></FONT></TD>
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<TD WIDTH="49%"><FONT SIZE=2>Shares issuable pursuant to outstanding options under the 2001 Equity Incentive Plan</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER"><FONT SIZE=2>191,863</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER"><FONT SIZE=2>$26.24</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER"><FONT SIZE=2>$5,034,485.12</FONT></TD>
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<TD WIDTH="49%"><FONT SIZE=2>Shares reserved for future issuance under the 2001 Equity Incentive Plan</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER"><FONT SIZE=2>58,137</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER"><FONT SIZE=2>$26.08</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER"><FONT SIZE=2>$1,516,212.96</FONT></TD>
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<TD WIDTH="49%" VALIGN="BOTTOM"><FONT SIZE=2><B>TOTAL</B></FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2>250,000</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="16%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2>$6,550,698.08</FONT></TD>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ja1948_part_ii_information_req__ja102480"> </A>
<A NAME="toc_ja1948_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART II<BR>  <BR>    INFORMATION REQUIRED IN THE REGISTRATION STATEMENT    <BR>  </B></FONT></P>

<P><FONT SIZE=2><A
NAME="ja1948_item_3._incorporation_of_documents_by_reference"> </A>
<A NAME="toc_ja1948_2"> </A></FONT> <FONT SIZE=2><B>ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE    <BR>  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by Photon Dynamics,&nbsp;Inc. (the "Company") with the Securities and Exchange Commission (the "SEC") are incorporated by
reference into this Registration Statement: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)
the Company's latest Annual Report on Form&nbsp;10-K for the year ended September&nbsp;30, 2001, filed with the SEC on December&nbsp;6, 2001; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)
the Company's Quarterly Report on Form&nbsp;10-Q for the quarter ended December&nbsp;31, 2001, filed with the SEC on February&nbsp;14, 2002; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)
the Company's Quarterly Report on Form&nbsp;10-Q for the quarter ended March&nbsp;31, 2002, filed with the SEC on May&nbsp;9, 2002; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)
the Company's Current Report on Form&nbsp;8-K, filed with the SEC on January&nbsp;7, 2002; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)
the Company's Amended Current Report on Form&nbsp;8-K/A, filed with the SEC on January&nbsp;14, 2002; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)
the Company's Current Report on Form&nbsp;8-K, filed with the SEC on July&nbsp;22, 2002; and </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)
the description of the Company's Common Stock contained in the registration statement on Form&nbsp;8-A (File No.&nbsp;000-27234), filed with the SEC on
November&nbsp;14, 1995 under the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), as amended by the Company's Post-Effective Amendment No.&nbsp;1 to Form&nbsp;S-3 on Form&nbsp;S-1 (File
No.&nbsp;333-67622), filed with the SEC on May&nbsp;24, 2002. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
reports and other documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part
of this registration statement from the date of the filing of such reports and documents. </FONT></P>

</UL>

<P><FONT SIZE=2><A
NAME="ja1948_item_4._description_of_securities"> </A>
<A NAME="toc_ja1948_3"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 4. DESCRIPTION OF SECURITIES    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable. </FONT></P>

<P><FONT SIZE=2><A
NAME="ja1948_item_5._interests_of_named_experts_and_counsel"> </A>
<A NAME="toc_ja1948_4"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable. </FONT></P>

<P><FONT SIZE=2><A
NAME="ja1948_item_6._indemnification_of_directors_and_officers"> </A>
<A NAME="toc_ja1948_5"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our bylaws provide that we will indemnify our directors and officers to the fullest extent not prohibited by California law. We are also empowered under our
Amended and Restated Articles of Incorporation and bylaws to enter into indemnification contracts with our directors, officers, employees and agents and to purchase insurance on behalf of any person
whom we are required or permitted to indemnify. Pursuant to this provision, we have entered into indemnity agreements with certain of our directors and officers. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, our Amended and Restated Articles of Incorporation provide that, to the fullest extent permitted by California law, our directors will not be liable for monetary damages for
breach of the directors' fiduciary duty of care to us and our shareholders. This provision in the Amended and Restated Articles of Incorporation does not eliminate the duty of care, and in appropriate
circumstances, equitable remedies such as an injunction or other forms of non-monetary relief would remain available under California law. Each director will continue to be subject to
liability for breach of the director's duty of loyalty to us, for acts or omissions not in good faith or involving intentional </FONT></P>

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misconduct or knowing and culpable violations of law, that the director believes to be contrary to the best interests of us or our shareholders, involving a reckless disregard for the director's duty
to us or our shareholders when the director was aware or should have been aware of a risk of serious injury to us or our shareholders, or an unexcused pattern of inattention that amounts to an
abdication of the director's duty to us or our shareholders, for improper transactions between the director and us and for improper distributions to shareholders and loans to directors and officers or
for acts or omissions by the director as an officer. This provision also does not affect a director's responsibilities under any other laws, such as the federal securities laws or state or federal
environmental laws. </FONT></P>

<P><FONT SIZE=2><A
NAME="ja1948_item_7._exemption_from_registration_claimed"> </A>
<A NAME="toc_ja1948_6"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED    <BR>  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable. </FONT></P>

<P><FONT SIZE=2><A
NAME="ja1948_item_8._exhibits"> </A>
<A NAME="toc_ja1948_7"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 8. EXHIBITS    <BR>  </B></FONT></P>

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<TH WIDTH="12%" ALIGN="CENTER"><FONT SIZE=1><B>EXHIBIT<BR>
NUMBER</B></FONT><HR NOSHADE></TH>
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<TD WIDTH="12%"><FONT SIZE=2>5.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Opinion of Cooley Godward LLP</FONT></TD>
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<TD WIDTH="12%"><FONT SIZE=2>23.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Consent of Ernst&nbsp;&amp; Young LLP, Independent Auditors</FONT></TD>
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<TD WIDTH="12%"><FONT SIZE=2>23.2</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Consent of PricewaterhouseCoopers LLP, Independent Accountants</FONT></TD>
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<TD WIDTH="12%"><FONT SIZE=2>23.3</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Consent of Cooley Godward LLP (contained in Exhibit&nbsp;5.1)</FONT></TD>
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<TD WIDTH="12%"><FONT SIZE=2>24.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Power of Attorney (contained on the signature page)</FONT></TD>
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<TD WIDTH="12%"><FONT SIZE=2>99.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>2001 Equity Incentive Plan, as amended</FONT></TD>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
reasonable effort, the registrant has not been able to obtain the consent of Arthur Andersen LLP to the incorporation by reference of their report in this registration statement,
and the registrant has dispensed with the requirement to file their consent in reliance on Rule&nbsp;437(a) promulgated under the Securities Act. Because Arthur Andersen LLP has not consented to the
incorporation by reference of their report in this registration statement, you will not be able to recover against Arthur Andersen LLP under Section&nbsp;11 of the Securities Act for any untrue
statements of a material fact contained in the financial statements audited by Arthur Andersen LLP incorporated by reference herein or any omissions to state a material fact required to be stated
therein. </FONT></P>

<P><FONT SIZE=2><A
NAME="ja1948_item_9._undertakings"> </A>
<A NAME="toc_ja1948_8"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 9. UNDERTAKINGS    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The undersigned registrant hereby undertakes: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </FONT></P>

<UL>
<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>To
include any prospectus required by section&nbsp;10(a)(3) of the Securities Act;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule&nbsp;424(b) (ss. 230.424(b) of this chapter) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the
maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement. </FONT></DD></DL>
</UL>
</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>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; </FONT></DD></DL>
</UL>
</UL>
</UL>
<UL>
<UL>

<P><FONT SIZE=2>Provided,
however, that paragraphs (a)(i)&nbsp;and (a)(ii)&nbsp;do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed by the issuer pursuant to section&nbsp;13 or section&nbsp;15(d) of the Exchange Act that are incorporated by reference herein. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&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. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to
Section&nbsp;13(a) or Section&nbsp;15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section&nbsp;15(d) of the Exchange Act)
that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.
Insofar as indemnification for liabilities arising under the Securities Act 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 Securities Act
and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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NAME="page_jc1948_1_4"> </A> </FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jc1948_signatures"> </A>
<A NAME="toc_jc1948_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San
Jose, State of California, on this 24<SUP>th</SUP> day of July, 2002. </FONT></P>

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<TD WIDTH="47%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><B>PHOTON DYNAMICS,&nbsp;INC.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="45%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>RICHARD L. DISSLY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Richard L. Dissly<BR></FONT> <FONT SIZE=2><I>Chief Financial Officer and Secretary</I></FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jc1948_power_of_attorney"> </A>
<A NAME="toc_jc1948_2"> </A>
<BR></FONT><FONT SIZE=2><B>POWER OF ATTORNEY    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Vincent F. Sollitto and Richard L. Dissly, and each or
any one of them, his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform
each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all
that said attorneys-in-fact and agents, or any of them, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

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<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated: </FONT></P>

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<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="33%" ALIGN="CENTER"><FONT SIZE=1><B>Title</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER"><FONT SIZE=1><B>Date</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2>/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>VINCENT F. SOLLITTO</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Vincent F. Sollitto</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=2>President, Chief Executive Officer and Director (Principal Executive Officer)</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2>July 24, 2002</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="45%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>RICHARD L. DISSLY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Richard L. Dissly</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=2><BR>
Chief Financial Officer and Secretary (Principal Financial and Accounting Officer)</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
July 24, 2002</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="45%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>E. FLOYD KVAMME</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> E. Floyd Kvamme</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=2><BR>
Chairman of the Board</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
July 24, 2002</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="45%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Richard P. Beck</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" VALIGN="CENTER"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="45%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>NICHOLAS E. BRATHWAITE</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Nicholas&nbsp;E. Brathwaite</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
July 24, 2002</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="45%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>MICHAEL J. KIM</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Michael J. Kim</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
July 24, 2002</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="45%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>ELWOOD H. SPEDDEN</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Elwood&nbsp;H. Spedden</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
July 24, 2002</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="45%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>MALCOLM J. THOMPSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Malcolm J. Thompson</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
<TD WIDTH="2%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
July 24, 2002</FONT></TD>
</TR>
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<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
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<A NAME="toc_ka1948_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT INDEX    <BR>  </B></FONT></P>

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<TH WIDTH="12%" ALIGN="CENTER"><FONT SIZE=1><B>EXHIBIT<BR>
NUMBER</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="85%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>5.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Opinion of Cooley Godward LLP</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
23.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2><BR>
Consent of Ernst&nbsp;&amp; Young LLP, Independent Auditors</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
23.2</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2><BR>
Consent of PricewaterhouseCoopers LLP, Independent Accountants</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
23.3</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2><BR>
Consent of Cooley Godward LLP (contained in Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
24.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2><BR>
Power of Attorney (contained on the signature page)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
99.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2><BR>
2001 Equity Incentive Plan, as amended</FONT></TD>
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<P><br><A NAME="02PAL1948_1">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_ja1948_1">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></FONT><BR>
<UL>
<FONT SIZE=2><A HREF="#toc_ja1948_2">ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_ja1948_3">ITEM 4. DESCRIPTION OF SECURITIES</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_ja1948_4">ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_ja1948_5">ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_ja1948_6">ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_ja1948_7">ITEM 8. EXHIBITS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_ja1948_8">ITEM 9. UNDERTAKINGS</A></FONT><BR>
</UL>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_jc1948_1">SIGNATURES</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_jc1948_2">POWER OF ATTORNEY</A></FONT><BR>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_ka1948_1">EXHIBIT INDEX</A></FONT><BR>
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QuickLinks
-- Click here to rapidly navigate through this document
As filed with the Securities and Exchange Commission on July 24, 2002
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PHOTON DYNAMICS, INC.
(Exact name of registrant as specified in its charter)
California
94-3007502
(State of incorporation)
(I.R.S. Employer Identification No.)
17 GREAT OAKS BOULEVARD
SAN JOSE, CA 95119
(408) 360-3550
(Address of principal executive offices, including zip code)
2001 EQUITY INCENTIVE PLAN
(Full title of the plan)
RICHARD L. DISSLY
CHIEF FINANCIAL OFFICER AND SECRETARY
PHOTON DYNAMICS, INC.
17 GREAT OAKS BOULEVARD
(408) 360-3550
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
BRETT D. WHITE, ESQ.
COOLEY GODWARD LLP
FIVE PALO ALTO SQUARE
3000 EL CAMINO REAL
PALO ALTO, CA 94306-2155
(650) 843-5000
CALCULATION OF REGISTRATION FEE
Title of Securities to be
Registered
Amount to be Registered(1)
Proposed Maximum Offering Price Per Share(2)
Proposed Maximum Aggregate Offering Price(2)
Amount of Registration Fee
Common Stock, no par value per share
250,000 shares
$26.08-$26.24
$6,550,698.08
$603.00
(1)
This
Registration Statement shall cover any additional shares of Common Stock which become issuable under the plan set forth herein by reason of any stock dividend, stock split,
recapitalization or any other similar transaction without receipt of consideration which results in an increase in the number of shares of the Registrant's outstanding Common Stock.
(2)
Estimated
solely for the purpose of calculating the amount of the registration fee pursuant to Rule 457(h). The price per share and aggregate offering price of the shares to be
offered under the 2001 Equity Incentive Plan is based upon the (a) exercise price for shares issuable pursuant to outstanding options granted under the 2001 Equity Incentive Plan and
(b) the average of the high and low prices of the Registrant's Common Stock on July 19, 2002 as reported on the Nasdaq National Market (pursuant to Rule 457(c) under the Act) for
shares reserved for future issuance under the 2001 Equity Incentive Plan. The registration fee is calculated as follows:
Plan
Number of Shares
Offering Price Per Share
Aggregate Offering Price
Shares issuable pursuant to outstanding options under the 2001 Equity Incentive Plan
191,863
$26.24
$5,034,485.12
Shares reserved for future issuance under the 2001 Equity Incentive Plan
58,137
$26.08
$1,516,212.96
TOTAL
250,000
$6,550,698.08
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
The following documents filed by Photon Dynamics, Inc. (the "Company") with the Securities and Exchange Commission (the "SEC") are incorporated by
reference into this Registration Statement:
(a)
the Company's latest Annual Report on Form 10-K for the year ended September 30, 2001, filed with the SEC on December 6, 2001;
(b)
the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2001, filed with the SEC on February 14, 2002;
(c)
the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, filed with the SEC on May 9, 2002;
(d)
the Company's Current Report on Form 8-K, filed with the SEC on January 7, 2002;
(e)
the Company's Amended Current Report on Form 8-K/A, filed with the SEC on January 14, 2002;
(f)
the Company's Current Report on Form 8-K, filed with the SEC on July 22, 2002; and
(g)
the description of the Company's Common Stock contained in the registration statement on Form 8-A (File No. 000-27234), filed with the SEC on
November 14, 1995 under the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), as amended by the Company's Post-Effective Amendment No. 1 to Form S-3 on Form S-1 (File
No. 333-67622), filed with the SEC on May 24, 2002.
All
reports and other documents subsequently filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part
of this registration statement from the date of the filing of such reports and documents.
ITEM 4. DESCRIPTION OF SECURITIES
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Our bylaws provide that we will indemnify our directors and officers to the fullest extent not prohibited by California law. We are also empowered under our
Amended and Restated Articles of Incorporation and bylaws to enter into indemnification contracts with our directors, officers, employees and agents and to purchase insurance on behalf of any person
whom we are required or permitted to indemnify. Pursuant to this provision, we have entered into indemnity agreements with certain of our directors and officers.
In
addition, our Amended and Restated Articles of Incorporation provide that, to the fullest extent permitted by California law, our directors will not be liable for monetary damages for
breach of the directors' fiduciary duty of care to us and our shareholders. This provision in the Amended and Restated Articles of Incorporation does not eliminate the duty of care, and in appropriate
circumstances, equitable remedies such as an injunction or other forms of non-monetary relief would remain available under California law. Each director will continue to be subject to
liability for breach of the director's duty of loyalty to us, for acts or omissions not in good faith or involving intentional
misconduct or knowing and culpable violations of law, that the director believes to be contrary to the best interests of us or our shareholders, involving a reckless disregard for the director's duty
to us or our shareholders when the director was aware or should have been aware of a risk of serious injury to us or our shareholders, or an unexcused pattern of inattention that amounts to an
abdication of the director's duty to us or our shareholders, for improper transactions between the director and us and for improper distributions to shareholders and loans to directors and officers or
for acts or omissions by the director as an officer. This provision also does not affect a director's responsibilities under any other laws, such as the federal securities laws or state or federal
environmental laws.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
ITEM 8. EXHIBITS
EXHIBIT
NUMBER
5.1
Opinion of Cooley Godward LLP
23.1
Consent of Ernst & Young LLP, Independent Auditors
23.2
Consent of PricewaterhouseCoopers LLP, Independent Accountants
23.3
Consent of Cooley Godward LLP (contained in Exhibit 5.1)
24.1
Power of Attorney (contained on the signature page)
99.1
2001 Equity Incentive Plan, as amended
After
reasonable effort, the registrant has not been able to obtain the consent of Arthur Andersen LLP to the incorporation by reference of their report in this registration statement,
and the registrant has dispensed with the requirement to file their consent in reliance on Rule 437(a) promulgated under the Securities Act. Because Arthur Andersen LLP has not consented to the
incorporation by reference of their report in this registration statement, you will not be able to recover against Arthur Andersen LLP under Section 11 of the Securities Act for any untrue
statements of a material fact contained in the financial statements audited by Arthur Andersen LLP incorporated by reference herein or any omissions to state a material fact required to be stated
therein.
ITEM 9. UNDERTAKINGS
1. The undersigned registrant hereby undertakes:
(a)  To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)
To
include any prospectus required by section 10(a)(3) of the Securities Act;
(ii)
To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) (ss. 230.424(b) of this chapter) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the
maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement.
2
(iii)
To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement;
Provided,
however, that paragraphs (a)(i) and (a)(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 by the issuer pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference herein.
(b)  That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)  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.
2.
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act)
that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering thereof.
3.
Insofar as indemnification for liabilities arising under the Securities Act 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 Securities Act
and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.
3
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San
Jose, State of California, on this 24
th
day of July, 2002.
PHOTON DYNAMICS, INC.
By:
/s/
RICHARD L. DISSLY
Richard L. Dissly
Chief Financial Officer and Secretary
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Vincent F. Sollitto and Richard L. Dissly, and each or
any one of them, his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all
capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform
each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all
that said attorneys-in-fact and agents, or any of them, or their or his substitutes or substitute, may lawfully do or cause to be done by virtue hereof.
4
Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:
Signature
Title
Date
/s/
VINCENT F. SOLLITTO
Vincent F. Sollitto
President, Chief Executive Officer and Director (Principal Executive Officer)
July 24, 2002
/s/
RICHARD L. DISSLY
Richard L. Dissly
Chief Financial Officer and Secretary (Principal Financial and Accounting Officer)
July 24, 2002
/s/
E. FLOYD KVAMME
E. Floyd Kvamme
Chairman of the Board
July 24, 2002
Richard P. Beck
Director
/s/
NICHOLAS E. BRATHWAITE
Nicholas E. Brathwaite
Director
July 24, 2002
/s/
MICHAEL J. KIM
Michael J. Kim
Director
July 24, 2002
/s/
ELWOOD H. SPEDDEN
Elwood H. Spedden
Director
July 24, 2002
/s/
MALCOLM J. THOMPSON
Malcolm J. Thompson
Director
July 24, 2002
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EXHIBIT INDEX
EXHIBIT
NUMBER
5.1
Opinion of Cooley Godward LLP
23.1
Consent of Ernst & Young LLP, Independent Auditors
23.2
Consent of PricewaterhouseCoopers LLP, Independent Accountants
23.3
Consent of Cooley Godward LLP (contained in Exhibit 5.1)
24.1
Power of Attorney (contained on the signature page)
99.1
2001 Equity Incentive Plan, as amended
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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 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
ITEM 8. EXHIBITS
ITEM 9. UNDERTAKINGS
SIGNATURES
POWER OF ATTORNEY
EXHIBIT INDEX