AMERICAN SOFTWARE, INC. (NASDAQ:AMSWA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
Director Appointment
On June1, 2017, the Board of Directors (the Board) of American
Software, Inc. (the Company) increased the size of the Board from
five members to six members and appointed Mr.MatthewG. McKenna,
age 60, as a Class B Director to fill the vacancy created by the
increase in the size of the Board. Mr.McKenna will serve until,
and will be nominated for election at, the 2017 Annual Meeting of
Shareholders of the Company (the 2017 Annual Meeting).
Since July 2016, Mr.McKenna has served as Principal of McKenna
Associates, LLC, a management and consulting advisory firm. Prior
to that, Mr.McKenna served as Managing Director of Strategy, a
global strategy consulting firm and subsidiary of
PricewaterhouseCoopers from July 2015 to June 2016, and as Senior
Executive Advisor of Booz Company, a global management consulting
firm, from January 2008 to June 2015. Prior to serving at Booz
Company, Mr.McKenna held a variety of positions at Booz Allen
Hamilton over a 22-year period, including Managing Partner of the
companys Houston office and Energy Operations Sector Practice
Leader. From 1981 to 1985, Mr.McKenna served as a Supply Chain
Applications Consultant for the Company. Mr.McKenna holds a B.S.
in Engineering from the Georgia Institute of Technology and an
MBA from Harvard University.
The Board determined that Mr.McKenna has no relationship with the
Company or its subsidiaries, either directly or indirectly, that
would be inconsistent with a determination of independence under
the applicable rules and regulations of the NASDAQ Stock Market
and the U.S. Securities and Exchange Commission (the SEC).
Mr.McKenna has not been appointed to any Board committee at this
time. Mr.McKenna will receive compensation for serving on the
Board to the Companys non-employee director compensation
guidelines. Mr.McKenna was not appointed as a director to any
arrangement or understanding with any person, and Mr.McKenna is
not a participant in any related party transaction required to be
reported to Item404(a) of Regulation S-K.
| ITEM7.01. | REGULATION FD DISCLOSURE. |
On June1, 2017, the Company issued a press release regarding
Mr.McKennas appointment as a Class B Director.The full text of
this press release is attached to this report as Exhibit 99.1 and
is incorporated herein by reference.
to the rules and regulations of the SEC, the information
furnished to Item7.01 of this report is deemed to have been
furnished and shall not be deemed to be filed for purposes of
Section18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that section. Such
information shall not be incorporated by reference into any
filing of the Company, whether made before or after the date
hereof, regardless of any general incorporation language in such
filing.
| ITEM9.01. | FINANCIAL STATEMENTS AND EXHIBITS. |
| (d) | Exhibits. |
| 99.1 | Press Release of American Software, Inc., dated June1, 2017. |
About AMERICAN SOFTWARE, INC. (NASDAQ:AMSWA)
American Software, Inc. (American Software) develops, markets and supports a portfolio of software and services that delivers enterprise management, supply chain and retail planning solutions to the marketplace. The Company operates through three business segments: Supply Chain Management (SCM), Enterprise Resource Planning (ERP) and Information Technology (IT) Consulting. The SCM segment consists of Logility, Inc. and its subsidiary, Demand Management, Inc. (DMI), both of which provide supply chain and retail planning solutions to trading partners. The ERP segment consist of American Software ERP, which provides business software for manufacturers and distributors, and New Generation Computing, Inc. (NGC), which provides industry-specific business software to both retailers and manufacturers in the apparel, footwear, sewn products and furniture industries. The IT Consulting segment consists of The Proven Method, Inc., an IT staffing and consulting services firm. AMERICAN SOFTWARE, INC. (NASDAQ:AMSWA) Recent Trading Information
AMERICAN SOFTWARE, INC. (NASDAQ:AMSWA) closed its last trading session up +0.09 at 10.83 with 65,121 shares trading hands.
