Impac Mortgage Holdings,Inc. (NYSEMKT:IMH) 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 Director or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers
On May23, 2017, the board of directors (the Board) of Impac
Mortgage Holdings,Inc. (the Company) appointed Thomas B. Akin to
serve as a director, effective as of such date. The Companys
Board now consists of seven directors. Mr.Akin will receive the
compensation currently in effect for non-employee directors.
Mr.Akin, 65, is currently the managing general partner of Talkot
Capital LLC, a position he has held since 1996. Talkot Capital is
the general partner for various limited partnerships (including
the Talkot Fund, L.P.) investing in both private and public
companies. From February2008 to 2014, Mr.Akin served as the Chief
Executive Officer of Dynex Capital,Inc. (NYSE: DX) and was a
director from May2003, serving as chairperson since 2005, until
May2017. From 1991 to 1994, Mr.Akin was the managing director of
the Western United States for Merrill Lynch Institutional
Services and was the Regional Director of the San Francisco and
Los Angeles regions for Merrill Lynch Institutional Services from
1981 to 1991. Prior to Merrill Lynch, Mr.Akin had been with
Salomon Brothers from 1978 to 1981. Mr.Akin currently serves on
the board of directors for Mobivity Holdings Corp. (OTC: MFON).
Mr.Akin holds a Master of Business Administration from the
Anderson School at the University of California Los Angeles
(UCLA) and a Bachelor of Science in Marine Biology from the
University of California at Santa Cruz.
There is no arrangement or understanding between Mr.Akin and any
other persons to which such director was selected as a director
nor are there any family relationships between any of the
Companys executive officers and directors. In addition, there are
no transactions involving the Company and Mr.Akin that are
reportable to Item 404(a)of Regulation S-K under the Securities
Act of 1933, as amended, except for the following: On April18,
2017, Mr.Akin and Talkot Fund, L.P. purchased an aggregate of
1,974,724 shares of the Companys common stock in its registered
direct offering at a price of $12.66 per share, and currently
beneficially own an aggregate of 2,777,031 shares of the Companys
common stock.
Item 7.01 Regulation FD
Disclosure.
On May24, 2017, the Company issued a press release announcing the
appointment of Thomas B. Akin to the board of directors. A copy
of the press release is attached hereto as Exhibit99.1 and the
information therein is incorporated herein by reference.
The information reported under Item 7.01 in this Current
Report on Form8-K, including Exhibit99.1 attached hereto, shall
not be deemed filed for purposes of Section18 of the Securities
Exchange Act of 1934, as amended (the Exchange Act) or otherwise
subject to the liabilities of that section, nor shall it be
deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act,
regardless of any general incorporation language in such
filing.
Item 9.01 Financial Statements and
Exhibits.
(d) Exhibits
|
Exhibit Number |
|
Description |
|
99.1 |
Press Release dated May24, 2017. |
About Impac Mortgage Holdings, Inc. (NYSEMKT:IMH)
Impac Mortgage Holdings, Inc. is an independent residential mortgage lender. The Company operates through three segments: Mortgage Lending, Real Estate Services and Long-Term Mortgage Portfolio. It originates, sells and services conventional, conforming agency and Government insured residential mortgage loans. Its Real Estate Services segment provides various real estate related services and loss mitigation services, including managing distressed mortgage portfolios and foreclosed real estate assets; surveillance services for residential and multifamily mortgage portfolios; loan modification services, and the master servicing on various residential mortgage and multifamily loan pools for loans. It manages its long-term mortgage portfolio, which consists of residual interests in the securitization trusts reflected as trust assets and liabilities. Its Corporate segment includes corporate services groups, such as information technology, human resources, legal, facilities and accounting. Impac Mortgage Holdings, Inc. (NYSEMKT:IMH) Recent Trading Information
Impac Mortgage Holdings, Inc. (NYSEMKT:IMH) closed its last trading session up +0.40 at 15.53 with 55,561 shares trading hands.