1347 PROPERTY INSURANCE HOLDINGS, INC. (NASDAQ:PIH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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1347 PROPERTY INSURANCE HOLDINGS, INC. (NASDAQ:PIH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 3, 2017, the Board of Directors (the “Board”) of 1347 Property Insurance Holdings, Inc. (the “Company”) appointed Lewis Johnson to the Board as a Class II director. The Board has not made any determinations regarding committee assignments for Mr. Johnson at this time.

Mr. Johnson is President, Co-Founder and Partner of Fundamental Global Investors, an SEC registered investment advisor that manages equity and fixed income hedge funds and Co-Chief Investment Officer of CWA Asset Management Group, LLC d/b/a Capital Wealth Advisors, a wealth advisor and multi-family office. Mr. Johnson is also a director at Ballantyne Strong, Inc. (NYSE: BTN), a holding company with diverse business activities focused on serving the cinema, retail, financial, and government markets as well as RELM Wireless Corporation (NYSE: RWC), a technology company that designs, manufactures, and markets wireless communication products. Prior to co-founding Fundamental Global Investors and partnering with Capital Wealth Advisors, Mr. Johnson was a private investor from 2010-2012. Mr. Johnson was a Portfolio Manager and Managing Director at Louis Dreyfus Highbridge Energy from 2008-2010.

As a director of the Company, Mr. Johnson will participate in the Company’s non-employee director compensation program. Under the non-employee director compensation program, each non-employee director will receive an annual cash fee of $50,000 (paid in four equal quarterly installments).

There are no arrangements or understandings between Mr. Johnson and any other persons to which he was elected as a director. There are no transactions between Mr. Johnson and the Company that would require disclosure under Item 404(a) of Regulation S-K.

 

 


About 1347 PROPERTY INSURANCE HOLDINGS, INC. (NASDAQ:PIH)

1347 Property Insurance Holdings, Inc. is a holding company. The Company, through its subsidiaries, is engaged providing property and casualty insurance. The Company offers homeowners’ insurance, manufactured home insurance and dwelling fire insurance. It writes both full peril property policies, as well as wind/hail only exposures and it distributes policies through independent insurance agents. Maison Managers, Inc. (MMI) serves as the Company’s management services subsidiary. Its other subsidiaries include Maison Insurance Company (Maison), a property and casualty insurance company, and ClaimCor, LLC (ClaimCor), a claims adjusting company. Its homeowners’ insurance policy is written on an owner occupied dwelling, which protects from all perils, except for those specifically excluded from coverage by the policy. Its wind/hail insurance policy is written on an owner or non-owner occupied dwelling, which protects from the perils of wind and/or hail-only weather events.

1347 PROPERTY INSURANCE HOLDINGS, INC. (NASDAQ:PIH) Recent Trading Information

1347 PROPERTY INSURANCE HOLDINGS, INC. (NASDAQ:PIH) closed its last trading session 00.00 at 7.70 with 1,886 shares trading hands.