0001437749-21-020295.txt : 20210817 0001437749-21-020295.hdr.sgml : 20210817 20210817132333 ACCESSION NUMBER: 0001437749-21-020295 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20210816 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20210817 DATE AS OF CHANGE: 20210817 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOVATION COMPANIES, INC. CENTRAL INDEX KEY: 0001025953 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531] IRS NUMBER: 742830661 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22897 FILM NUMBER: 211182151 BUSINESS ADDRESS: STREET 1: 9229 WARD PARKWAY STREET 2: SUITE 340 CITY: KANSAS CITY STATE: MO ZIP: 64114 BUSINESS PHONE: 8162377000 MAIL ADDRESS: STREET 1: 9229 WARD PARKWAY STREET 2: SUITE 340 CITY: KANSAS CITY STATE: MO ZIP: 64114 FORMER COMPANY: FORMER CONFORMED NAME: NOVASTAR FINANCIAL INC DATE OF NAME CHANGE: 19970723 8-K 1 novc20210811_8k.htm FORM 8-K novc20210811_8k.htm
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
 
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported): August 16, 2021
 
 
NOVATION COMPANIES, INC.
 
(Exact name of registrant as specified in its charter)
 
         
Maryland
 
000-22897
 
74-2830661
(State or other jurisdiction of
incorporation or organization)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)
 
9229 Ward Parkway, Suite 340, Kansas City, MO 64114
(Address of principal executive offices) (Zip Code)
 
(816) 237-7000
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act: None
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 


 

 
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
(b)
 
         
As part of Novation’s effort to reduce costs, on August 16, 2021, Howard Timothy Eriksen and Lee D. Keddie notified Novation’s Board of Directors of their decision to resign from the Company's Board and all committees on which they serve, effective immediately.  Their decision was based on personal reasons and not a result of any disagreement between them and the Company on any matter relating to the Company’s operations, policies, personnel or practices.  In addition, David W. Pointer, Novation’s Chief Executive Officer voluntarily reduced his annual compensation from $250,000 to $125,000.  Novation continues to focus on lowering it’s operating costs as well as exploring alternatives with it’s creditors.
         
 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
   
NOVATION COMPANIES, INC.
   
Date: August 17, 2021
  /s/ Carolyn K. Campbell
   
Name: Carolyn K. Campbell
Title: Chief Financial Officer
 
 
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