UTG, INC. (OTCMKTS:UTGN) 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. Compensatory Arrangements of Certain Officers.
Directors on March 22, 2017, bonuses were approved for Mr. Jesse
T. Correll, CEO and Chairman of the Board of Directors, Mr.
Douglas P. Ditto, Vice President, Mr. James P. Rousey, President
and Mr. Theodore C. Miller, Corporate Secretary and CFO.
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Cash Bonus
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Stock Bonus*
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Total Bonus
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||
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Jesse T. Correll
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$0
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$109,988
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$109,988
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Douglas P. Ditto
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$0
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$70,000
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$70,000
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James P. Rousey
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$90,000
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$0
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$90,000
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Theodore C. Miller
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$50,000
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$ 0
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$50,000
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Total
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$140,000
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$179,988
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$319,988
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value reported on the date of bonus approval.
and are not the result of any written agreement or specific
formula.
receive an annual salary increase of $10,000 making his new
annual salary $130,000.
but are not members of the Compensation Committee. The Company
continues to have neither written employment agreements nor oral
arrangements with any of its corporate officers.
About UTG, INC. (OTCMKTS:UTGN)
UTG, Inc. is an insurance holding company. The Company is engaged in the individual life insurance business, which includes the servicing of existing insurance business in-force, the acquisition of other companies in the insurance business, and the administration processing of life insurance business for other entities. It operates through the life insurance segment. Its direct subsidiary is Universal Guaranty Life Insurance Company (UG). UG’s product portfolio consists of various life insurance product offerings, such as Ten Pay Whole Life, Tradition and Kid Kare. Ten Pay Whole Life has a level face amount and level premium payable for the first 10 policy years. This product is available for issue ages 0 to 65. The Tradition policy is a fixed premium whole life insurance policy for issue ages 0 to 75. The Kid Kare product is a single premium level term policy to age 21. The Company offers mortgage loans, which include commercial loans and residential loans. UTG, INC. (OTCMKTS:UTGN) Recent Trading Information
UTG, INC. (OTCMKTS:UTGN) closed its last trading session 00.00 at 17.50 with 120 shares trading hands.