Atlas Financial Holdings, Inc. (NASDAQ:AFH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective as of June 12, 2017, the Board of Directors (the “Board”) of Atlas Financial Holdings, Inc. (the “Company”) increased the size of the Board of Directors from five (5) to six (6) and appointed Wally Walker to the Board of Directors. Mr. Walker has not been appointed to any committees at this time, however, Mr. Walker will likely be added to one or more committees following the next scheduled board meeting.
Mr. Walker will receive the same compensation as other non-employee directors, which, as of April 24, 2017, consists of a $55,000 annual cash retainer>and the ability to participate in the director stock matching program, to which Mr. Walker would be eligible for a three-to-one matching grant if he purchases up to $100,000 of stock of the Company within six months of becoming a director. If Mr. Walker is appointed as the chair of the Audit Committee, he will receive an additional annual retainer of $10,000.>