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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-K/A
 Amendment No. 1
 þ
    
    Annual report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934for the year ended December 31, 2005
 Or
 o
    
    Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934for the transition period from
       to    .
 Commission file number: 000-27389
 INTERWOVEN, INC.
  Delaware
    
    77-0523543(State or other jurisdiction
    
    (I.R.S. Employerof incorporation or organization)
    
    Identification No.)
 803 11 th Avenue, Sunnyvale, California 94089
 (408) 774-2000
 None
 Common Stock, $.001 par value
 o þ
 o þ
 þ o
 þ
  Large accelerated filer o
    
    Accelerated filer þ
    
    Non-accelerated filer o
 o þ
    DOCUMENTS INCORPORATED BY REFERENCE




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##### 



INTERWOVEN, INC.
ANNUAL REPORT ON FORM 10-K
For the Year Ended December 31, 2005
  
 TABLE OF CONTENTS
 Item No.
    
    Name of ItemPART IIIItem 10
    
    Directors and Executive Officers of the Registrant.
    
    
    3Item 11
    
    Executive Compensation.
    
    
    5Item 12
    
    Security Ownership of Certain Beneficial Owners
and Management and Related Stockholder Matters.
    
    
    10Item 13
    
    Certain Relationships and Related Transactions.
    
    
    13Item 14
    
    Principal Accountant Fees and Services.
    
    
    13Signatures
    
    
    
    
    14EXHIBIT 31.03EXHIBIT 31.04
  EXPLANATORY NOTE
      2




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PART III
 
 ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
 Board of Directors
  Name of Director
    
    Age
    
    Principal Occupation
    
    Director SinceRonald E. F. Codd (1)
    
    
    50
    
    
    Independent Business Consultant
    
    July 1999Bob L. Corey (1)
    
    
    54
    
    
    Independent Management Consultant
    
    November 2003Frank J. Fanzilli, Jr. * (2) (3)
    
    
    49
    
    
    Independent Business Consultant
    
    July 2002Thomas L. Thomas (1) (2)
    
    
    56
    
    
    Independent Management Consultant
    
    February 2004Anthony Zingale (3)
    
    
    50
    
    
    President and Chief Executive
Officer, Mercury Interactive
Corporation
    
    April 2000
 
 *
    
    Chairman of the Board of Director(1)
    
    Member of the Audit Committee(2)
    
    Member of the Compensation Committee(3)
    
    Member of the Nominating and Governance Committee Ronald E. F. Codd
 Bob L. Corey
 Frank J. Fanzilli, Jr.
 Thomas L. Thomas
 3




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##### Table of Contents



Anthony Zingale
 Executive Officers
  Scipio M. Carnecchia
 John E. Calonico, Jr.
 Steven J. Martello
 David
A. Nelson-Gal
 William Seawick
 4




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##### Table of Contents



Identification of Audit Committee and Financial Expert
 Audit Committee http://www.interwoven.com/company/investors/corp_governance.html
  Section 16(a) Beneficial Ownership Reporting Compliance
   Code of Conduct and Business Ethics
 http://www.interwoven.com/company/investors/corp_governance.html
 
 ITEM 11. EXECUTIVE COMPENSATION
 Named Executive Officers
 5




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Summary Compensation Table
 Long TermCompensationAnnual Compensation
    
    AwardsSecurities
    
    All OtherUnderlying
    
    CompensationName and Principal Position
    
    Year
    
    Salary
    
    Bonus
    
    Options
    
    (1)Martin W. Brauns(2)
    
    
    2005
    
    
    $
    400,000
    
    
    $
    286,650
    
    
    
    500,000
    
    
    $
    Former Chief Executive
    
    
    2004
    
    
    
    350,000
    
    
    
    289,800
    
    
    
    
    
    
    
    360Officer and Director
    
    
    2003
    
    
    
    262,500
    
    
    
    155,250
    
    
    
    1,000,000
    
    
    
    360John E. Calonico, Jr.
    
    
    2005
    
    
    $
    220,000
    
    
    $
    81,900
    
    
    
    20,000
    
    
    $
    265Senior Vice President and
    
    
    2004
    
    
    
    210,000
    
    
    
    156,600
    (3)
    
    
    
    
    
    
    264Chief Financial Officer
    
    
    2003
    
    
    
    28,462
    
    
    
    41,600
    
    
    
    47,500
    
    
    
    33Scipio M. Carnecchia
Interim President and
    
    
    2005
    
    
    $
    200,000
    
    
    $
    340,239
    
    
    
    70,000
    
    
    $
    265Senior Vice President of
    
    
    2004
    
    
    
    187,500
    
    
    
    258,998
    
    
    
    115,000
    
    
    
    240Worldwide Sales
    
    
    2003
    
    
    
    162,500
    
    
    
    226,577
    
    
    
    50,000
    
    
    
    210Steven J. Martello
    
    
    2005
    
    
    $
    231,250
    
    
    $
    157,246
    
    
    
    90,000
    
    
    $
    270Senior Vice President of
    
    
    2004
    
    
    
    225,000
    
    
    
    130,659
    
    
    
    130,000
    
    
    
    270Consulting Services
    
    
    2003
    
    
    
    225,000
    
    
    
    52,000
    
    
    
    25,000
    
    
    
    270David A. Nelson-Gal
    
    
    2005
    
    
    $
    250,000
    
    
    $
    81,900
    
    
    
    10,000
    
    
    $
    201Senior Vice President of
    
    
    2004
    
    
    
    82,475
    
    
    
    15,000
    
    
    
    200,000
    
    
    
    300Engineering
    
    
    2003
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
 
 (1)
    
    Represents life insurance premium payments.(2)
    
    Mr. Brauns ceased serving as our Chief Executive Officer on March 31, 2006.(3)
    
    Mr. Calonico joined Interwoven, Inc. in November 2003 in connection with the
merger with iManage, Inc. The bonus reflected in 2003 for Mr. Calonico relates to
amounts due under the iManage Incentive Compensation Plan which we paid following the
merger. Mr. Calonico received a $50,000 retention bonus in 2004 associated with his
employment with Interwoven.  6




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Option Grants in 2005
    Number of
    
    Percentage ofSecurities
    
    Total Options
    
    
    
    
    
    
    
    
    
    Potential Realizable Value atUnderlying
    
    Granted to
    
    
    
    
    
    
    
    
    
    Assumed Annual Rates of StockOptions
    
    Employees in
    
    Exercise Price
    
    Expiration
    
    Price Appreciation for Option TermName
    
    Granted
    
    2005
    
    Per Share
    
    Date
    
    5%
    
    10%Martin W. Brauns (1)
    
    
    300,000
    
    
    
    16.0
    %
    
    $
    8.81
    
    
    
    3/7/2015
    
    
    $
    1,662,168
    
    
    $
    4,212,261200,000
    
    
    
    10.6
    %
    
    
    8.38
    
    
    
    6/22/2015
    
    
    
    1,054,027
    
    
    
    2,671,112John E. Calonico, Jr.
    
    
    20,000
    
    
    
    1.1
    %
    
    
    9.43
    
    
    
    1/10/2015
    
    
    
    118,610
    
    
    
    300,580Scipio M. Carnecchia
    
    
    40,000
    
    
    
    2.1
    %
    
    
    9.43
    
    
    
    1/10/2015
    
    
    
    237,219
    
    
    
    601,16030,000
    
    
    
    1.6
    %
    
    
    8.38
    
    
    
    6/22/2015
    
    
    
    158,104
    
    
    
    400,667Steven J. Martello
    
    
    40,000
    
    
    
    2.1
    %
    
    
    9.43
    
    
    
    1/10/2015
    
    
    
    237,219
    
    
    
    601,16050,000
    
    
    
    2.7
    %
    
    
    8.38
    
    
    
    6/22/2015
    
    
    
    263,507
    
    
    
    667,778David A. Nelson-Gal
    
    
    10,000
    
    
    
    0.5
    %
    
    
    9.43
    
    
    
    1/10/2015
    
    
    
    59,305
    
    
    
    150,290
 
 (1)
    
    Mr. Brauns ceased serving as our Chief Executive Officer on March 31, 2006. Aggregated Option Exercises in 2005 and Option Values at December 31, 2005
   7




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Value of UnexercisedShares
    
    
    
    
    
    Number of Securities Underlying
    
    In-the-Money OptionsAcquired on
    
    Value
    
    Unexercised Options at Year-End
    
    at Year-EndName
    
    Exercise
    
    Realized
    
    Exercisable
    
    Unexercisable
    
    Exercisable
    
    UnexercisableMartin W. Brauns (1)
    
    
    
    
    
    $
    
    
    
    
    2,025,000
    
    
    
    
    
    
    $
    345,500
    
    
    $
    John E. Calonico, Jr.
    
    
    
    
    
    
    
    
    
    
    321,533
    
    
    
    
    
    
    
    406,297
    
    
    
    Scipio M. Carnecchia
    
    
    
    
    
    
    
    
    
    
    284,168
    
    
    
    8,333
    
    
    
    33,867
    
    
    
    15,583Steven J. Martello
    
    
    
    
    
    
    
    
    
    
    286,146
    
    
    
    8,854
    
    
    
    24,360
    
    
    
    10,890David A. Nelson-Gal
    
    
    
    
    
    
    
    
    
    
    70,000
    
    
    
    137,500
    
    
    
    43,750
    
    
    
    96,250
 
 (1)
    
    Mr. Brauns ceased serving as our Chief Executive Officer on March 31, 2006. Employment Contracts, Termination of Employment and Change-in-Control Arrangements
 Martin W. Brauns
  Scipio M. Carnecchia .
 8




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John E. Calonico, Jr .
 Steven J. Martello
 David
A. Nelson-Gal
 2006 Executive Officer Incentive Bonus Plan .
 Director Compensation
 Cash Compensation
 9




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Option Grants
 Other Benefits
 Compensation Committee Interlocks and Insider Participation
  
 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
  
    
    each of our Named Executive Officers;
    
    each of our directors and director nominees;
    
    each person known by us to be the beneficial owner of more than 5% of our common stock; and
    
    all of our executive officers and directors as a group.
 th
  10




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Shares Issuable UnderAmount of Beneficial
    
    Options Exercisable
    
    AggregateName and Address of Beneficial Owner
    
    Ownership(1)
    
    Within 60 Days
    
    PercentageMarc C.
Cohodes(2)
c/o Rocker Partners, L.P.
374 Millburn Avenue, Suite 205E
Millburn, New Jersey 07041
    
    
    4,021,968
    
    
    
    
    
    
    
    9.5
    %Dimensional Fund Advisors Inc.(3)
1299 Ocean Avenue, 11th Floor
Santa Monica, CA 90401
    
    
    2,324,868
    
    
    
    
    
    
    
    5.5Roxbury Capital Management, LLC(4)
100 Wilshire Blvd, Suite 1000
Santa Monica, CA 90401
    
    
    2,153,659
    
    
    
    
    
    
    
    5.1Martin W. Brauns(5)
    
    
    1,293,675
    
    
    
    750,000
    
    
    
    3.0John E. Calonico, Jr.
    
    
    327,659
    
    
    
    321,533
    
    
    
    *Scipio M. Carnecchia
    
    
    289,962
    
    
    
    285,730
    
    
    
    *Steven J. Martello
    
    
    287,708
    
    
    
    287,708
    
    
    
    *David A. Nelson-Gal
    
    
    91,934
    
    
    
    90,834
    
    
    
    *Anthony Zingale
    
    
    75,056
    
    
    
    70,000
    
    
    
    *Ronald E. F. Codd
    
    
    63,027
    
    
    
    60,500
    
    
    
    *Bob L. Corey
    
    
    56,898
    
    
    
    56,898
    
    
    
    *Thomas L. Thomas
    
    
    53,634
    
    
    
    30,000
    
    
    
    *Frank J. Fanzilli, Jr.
    
    
    50,000
    
    
    
    50,000
    
    
    
    *All 10 directors and executive officers as a group
    
    
    1,295,878
    
    
    
    1,253,203
    
    
    
    3.0
 
 *
    
    Less than 1%(1)
    
    Includes shares over which the person currently holds or shares voting or
investment power. Also includes shares listed under Shares Issuable Under Options
Exercisable Within 60 Days.(2)
    
    Number of shares beneficially owned is determined solely from information
reported on Schedule 13G on April 26, 2006.(3)
    
    Number of shares beneficially owned is determined solely from information
reported on Schedule 13G on February 6, 2006.(4)
    
    Number of shares beneficially owned is determined solely from information
reported on Schedule 13G on February 14, 2006.(5)
    
    Includes 462,393 shares held of record by Martin W. Brauns and Margaret R.
Brauns, trustees U/D/T 1/9/95. Mr. Brauns ceased serving as a director and our Chief
Executive Officer on March 31, 2006. 11




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Equity Compensation Plan Information
  (a)
    
    
    (b)
    
    
    (c)Number of securitiesremaining available forNumber of securities to be
    
    
    
    
    
    
    future issuance underissued upon exercise
    
    
    Weighted-average exercise price of
    
    
    equity compensation plansof outstanding options,
    
    
    outstanding options,
    
    
    (excluding securitiesPlan category
    
    warrants and rights
    
    
    warrants and rights
    
    
    reflected in column (a))Equity
compensation plans
approved by
security holders
(1)
    
    
    6,876,469
    
    
    $
    19.08
    
    
    
    1,615,716
    (2)Equity
compensation plans
not approved by
security holders
    
    
    3,168,219
    
    
    $
    16.81
    
    
    
    634,361Total
    
    
    10,044,688
    
    
    $
    18.36
    
    
    
    2,250,077
 
 (1)
    
    Excludes purchase rights accruing under the 1999 Employee Stock Purchase Plan.(2)
    
    Includes 442,762 shares that remain available for purchase under the 1999 Employee
Stock Purchase Plan. The 1999 Employee Stock Purchase Plan incorporates an evergreen
formula pursuant to which on January 1 of each year, the aggregate number of shares
reserved for issuance under this plan will increase by a number of shares equal to 1% of
the outstanding shares on December 31 of the preceding year. Summary Description of Non-Stockholder Approved Plans
 2000 Stock Incentive Plan.
 12




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2003 Acquisition Plan.
 
 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
  Indemnification Agreements
  
 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
  Year EndedDecember 31,2005
    
    2004Audit fees
    
    $
    1,409,808
    
    
    $
    622,453Audit-related fees
    
    
    39,435
    
    
    
    177,565Tax fees
    
    
    
    
    
    
    19,522$
    1,449,243
    
    
    $
    819,540
  Audit Committee Pre-Approval Policy
  13




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SIGNATURES
  INTERWOVEN, INC.By:
    /s/  SCIPIO M. CARNECCHIAScipio M. CarnecchiaInterim President
Date:  April 28, 2006  Signature
    
    Title
    
    Date/s/ SCIPIO M. CARNECCHIA
    
    Interim President
    
    April 28, 2006Scipio M. Carnecchia
    
    (Principal
Executive Officer)/s/ JOHN E. CALONICO, JR.
    
    Senior Vice President and Chief
    
    April 28, 2006John E. Calonico, Jr.
    
    Financial
Officer (Principal Financial
and Accounting Officer)/s/ FRANK J. FANZILLI, JR.
    
    Chairman of the Board of Directors
    
    April 28, 2006Frank J. Fanzilli, Jr./s/ RONALD E.F. CODD
    
    Director
    
    April 28, 2006Ronald E.F. Codd/s/ BOB L. COREY
    
    Director
    
    April 28, 2006Bob L. Corey/s/ THOMAS L. THOMAS
    
    Director
    
    April 28, 2006Thomas L. Thomas/s/ ANTHONY ZINGALE
    
    Director
    
    April 28, 2006Anthony Zingale
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Exhibit Index
 31.03
    
    Rule 13a-14(a)/15d-15(a) certification of the Interim President31.04
    
    Rule 13a-14(a)/15d-15(a) certification of the Chief Financial Officer