NICHOLAS FINANCIAL, INC. (NASDAQ:NICK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On February20, 2018, Nicholas Financial, Inc. (the “Company”) announced the appointment of Chad Steinorth as Vice President and Interim Chief Financial Officer effective on or before March1, 2018.Mr.Steinorth, age 46, will be rejoining the Company, having originally spent 13 years with Nicholas Financial from November1993 to November 2006, holding several positions including Controller and Vice President of Finance.Since then, Mr.Steinorth ran his own local auto finance company in the Tampa Bay area before selling it in 2016.Mr.Steinorth most recently served as Vice President of Finance at Platinum Auto Finance. Mr.Steinorth graduated from the University of South Florida with a Bachelor of Science in Accounting and is an active CPA in the State of Florida.
Mr.Steinorth will serve as the Interim Chief Financial Officer while the Company completes a search for a permanent replacement.Once that replacement is named and installed, Mr.Steinorth is expected to remain with the Company and assist with many other special projects and initiatives.
| Item 5.02. | Regulation FD Disclosure. |
On February20, 2018, the Company issued a press release in connection with the events reported above. A copy of the press release is furnished as Exhibit 99.1.
In accordance with General Instruction B.2. of Form 8-K, the information in this Item 5.02 and Exhibit 99.1 hereto is being furnished for informational purposes only and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as otherwise expressly stated in such filing.
The statements contained in this Current Report on Form 8-K that are not purely historical are forward-looking statements within the meaning of Section27A of the Securities Act of 1933 and Section31E of the Securities Exchange Act of 1934, including statements regarding the Company’s expectations, hopes, beliefs, intentions, or strategies regarding the future. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. All forward-looking statements included in this document are based on information available to the Company on the date hereof and the Company assumes no obligation to update any such forward-looking statement. Prospective investors should also consult the risks described from time to time in the Company’s Reports on Forms 10-K, 10-Q and 8-K and Annual Reports to Shareholders.
| Item 5.02. | Financial Statements and Exhibits. |
(d) Exhibits
NICHOLAS FINANCIAL INC ExhibitEX-99.1 2 d541010dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Nicholas Financial Announces Appointment of Interim CFO Clearwater,…To view the full exhibit click here
About NICHOLAS FINANCIAL, INC. (NASDAQ:NICK)
Nicholas Financial, Inc. (Nicholas Financial-Canada) is a holding company. The Company’s business activities are conducted through its subsidiary, Nicholas Financial, Inc. (Nicholas Financial). Nicholas Financial is a specialized consumer finance company engaged primarily in acquiring and servicing automobile finance installment contracts (Contracts) for purchases of new and used automobiles and light trucks. Nicholas Financial also originates direct consumer loans (Direct Loans) and sells consumer-finance related products. Another subsidiary, Nicholas Data Services, Inc. (NDS), acts as the interim holding company for Nicholas Financial. The Company is engaged in the business of providing financing programs, primarily on behalf of purchasers of new and used cars and light trucks. The Company originates Direct Loans in Florida and North Carolina. As of March 31, 2016, the Company’s automobile finance programs were conducted in 18 states.