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 Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Appointment of Principal Financial Officer

On August 31, 2017, the Board of Directors of Canterbury Park Holding Corporation (the “Company”) appointed Robert M. Wolf, age 48, as the Company’s Senior Vice President of Finance and Chief Financial Officer effective September 10, 2017. In his new position, Mr. Wolf will be the Company’s principal financial officer. Mr. Wolf has served as the Company’s Vice President of Finance and principal accounting officer since he joined the Company on March 13, 2017. The Company included a detailed description of Mr. Wolf’s background and experience in a Form 8-K Report dated March 13, 2017.

Mr. Wolf succeeds Randall D. Sampson as the Company’s principal financial officer who was appointed to serve in this role in connection with a management restructuring announced in December 2016. Mr. Sampson will continue to serve as the Company’s principal executive officer.

The Company has no formal employment agreement with Mr. Wolf. In connection with his appointment as Senior Vice President and Chief Financial Officer, the Company’s Board approved increasing Mr. Wolf’s annual salary to $180,000. In addition, Mr. Wolf’s incentive compensation opportunity under the Company’s annual short-term bonus plan and long-term incentive program was increased to 20% of his base compensation.

Item 8.01 – Other Events

On September 7, 2017, Canterbury Park Holding Corporation (the “Company”) issued a press release announcing that its Board of Directors declared a $0.06 per share quarterly cash dividend on the Company’s common stock, which is payable October 13, 2017 to shareholders of record as of the close of business on September 29, 2017.

Item 9.01 – Financial Statements and Exhibits

(d) Exhibits

The following are filed or furnished as Exhibits to this Report:

Canterbury Park Holding Corp Exhibit
EX-99.1 2 v474786_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1   CANTERBURY PARK 1100 Canterbury Road Shakopee,…
To view the full exhibit click here

About Canterbury Park Holding Corporation (NASDAQ:CPHC)

Canterbury Park Holding Corporation conducts pari-mutuel wagering operations and hosts unbanked card games at its Canterbury Park Racetrack and Card Casino facility in Shakopee, Minnesota. The Company’s pari-mutuel wagering operations include both wagering on thoroughbred and quarter horse races during live meets at the Racetrack and year-round wagering on races held at out-of-state racetracks that are televised simultaneously at the Racetrack. The Company operates through three segments: horse racing, Card Casino, and food and beverage. The Company’s horse racing segment represents operations related to pari-mutuel wagering on simulcast and live horse races. The Card Casino segment represents the Company’s unbanked card operations. The Company’s food and beverage segment includes both concessions and catering and events services provided at the Racetrack. The Card Casino offers tableside menu service around the clock.