EMERGENT CAPITAL,INC. (NYSE:EMG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k

7 years ago

EMERGENT CAPITAL,INC. (NYSE:EMG) 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.

(b) On September11, 2017, Andrew Dakos notified Emergent Capital,Inc. (the “Company”) that he is resigning from the Company’s Board of Directors (the “Board”), effective September11, 2017, due to other professional obligations.

(e) On September5, 2017, the Compensation Committee of the Board set compensation arrangements for Patrick J. Curry with respect to his service as Interim Chief Executive Officer. Mr.Curry will receive $330,000 on an annual basis, payable in accordance with the Company’s regular payroll practices, and reimbursement for his travel and other expenses related to Company business. The Compensation Committee will review this arrangement, if Mr.Curry is still serving in such position, on or about October31, 2017.

About EMERGENT CAPITAL,INC. (NYSE:EMG)
Emergent Capital, Inc., formerly Imperial Holdings, Inc., is a specialty finance company that invests in asset classes, primarily life settlements. The Company, through its subsidiary companies, owns a portfolio of approximately 630 life insurance policies (life settlements). The Company purchases individual policies and portfolios of life insurance policies and manages those assets based on actuarial and market data. The Company provides customized liquidity solutions to owners of illiquid financial assets in two markets, which include life finance and structured settlements. The Company focuses on lending to outright purchases of portfolios, to tertiary trades, as well as individual secondary market purchases. The Company invests in short and long-term life settlement investments.