CANTERBURY PARK HOLDING CORPORATION (NASDAQ:CPHC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Beginning December 5, 2016, Canterbury Park Holding Corporation (the “Company) implemented a restructuring of management to better align the Company’s senior leadership to a new corporate structure approved by the Company’s shareholders in June 2016, as well as to address current revenue trends, operational needs and business growth opportunities (the “Restructuring”). to the Restructuring, on December 5, 2016, David C. Hansen’s employment as Chief Financial Officer terminated. Also, as part of the Restructuring, on December 7, 2016, Eric Halstrom’s employment as the Company’s Vice President of Racing terminated.
Effective December 5, 2016, Randall D. Sampson, the Company’s Chief Executive Officer, became the Company’s principal financial officer and principal accounting officer. Mr. Sampson served as the Company’s principal executive officer, principal financial officer and principal accounting officer from 1994 until 2001. As disclosed in the Company’s Proxy Statement for its 2016 Annual Meeting of Shareholders, after graduating from college with a degree in accounting, Mr. Sampson worked for five years in the audit department of Deloitte & Touche where he earned his CPA certification. He subsequently gained experience as a controller of a private company and, thereafter, served as Chief Financial Officer of a public company before becoming one of the three co-founders of Canterbury Park Holding Corporation in 1994. Mr. Sampson will not receive any additional compensation for assuming the duties of principal financial officer and principal accounting officer.
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