0000832480-19-000002.txt : 20190205 0000832480-19-000002.hdr.sgml : 20190205 20190205170308 ACCESSION NUMBER: 0000832480-19-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190205 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20190205 DATE AS OF CHANGE: 20190205 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UTG INC CENTRAL INDEX KEY: 0000832480 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 202907892 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16867 FILM NUMBER: 19568740 BUSINESS ADDRESS: STREET 1: 205 NORTH DEPOT STREET CITY: STANFORD STATE: KY ZIP: 40484 BUSINESS PHONE: 2173236300 MAIL ADDRESS: STREET 1: 205 NORTH DEPOT STREET CITY: STANFORD STATE: KY ZIP: 40484 FORMER COMPANY: FORMER CONFORMED NAME: UNITED TRUST GROUP INC DATE OF NAME CHANGE: 20001206 FORMER COMPANY: FORMER CONFORMED NAME: UNITED TRUST INC /IL/ DATE OF NAME CHANGE: 19920703 8-K 1 utg8k20190205.htm COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

 
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): February 5, 2019
UTG, INC.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
Delaware
 
0-16867
 
20-2907892
(State or other jurisdiction of
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)
incorporation or organization)
 
 
 
 
205 North Depot Street
Stanford, KY 40484
(Address of principal executive offices and zip code)
(217) 241-6300
(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):
☐ Written communications pursuant to Rule 425 under the Securities Act
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Section 5 – Corporate Governance and Management

Item 5.02.  Compensatory Arrangements of Certain Officers.

At a meeting of the Compensation Committee of the Board of Directors on February 5, 2019, 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.

 
 
Cash Bonus
  
Stock Bonus*
Total Bonus
Jesse T. Correll
$90,000
$0
$90,000
Douglas P. Ditto
$0
$125,000
$125,000
James P. Rousey
$90,000
$35,000
$125,000
Theodore C. Miller
$60,000
$                0
$60,000
Total
$240,000
$160,000
$400,000

* UTG stock is valued at $30.11 per share, the current market value reported on the date of bonus approval.

The bonuses are based on the Company’s 2018 operating results and are not the result of any written agreement or specific formula.

Messrs. Correll and Rousey are members of the Board of Directors 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.


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.

UTG, INC.

Date:
February 5, 2019
  
By:
/s/ Theodore C. Miller
       
Theodore C. Miller
       
Senior Vice President and Chief Financial Officer