-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ANfWahP1PbPDDkPh22E/PZhdgmijpRiO32N8KZh6ldE1gW2KpEX4TgzX67XAskSw b63c/22bA9eZjMLYEFfkvg== 0000927016-96-000733.txt : 19960809 0000927016-96-000733.hdr.sgml : 19960809 ACCESSION NUMBER: 0000927016-96-000733 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960807 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19960808 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: INDIVIDUAL INC CENTRAL INDEX KEY: 0001002536 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 043036959 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27734 FILM NUMBER: 96605920 BUSINESS ADDRESS: STREET 1: 8 NEW ENGLAND EXECUTIVE PARK WEST CITY: BURLINGTON STATE: MA ZIP: 01803 BUSINESS PHONE: 6172736000 MAIL ADDRESS: STREET 1: 8 NEW ENGLAND EXECUTIVE PK CITY: BURLINGTON STATE: MA ZIP: 01803 8-K 1 FORM 8-K 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 7, 1996 -------------- Individual, Inc. ---------------- (Exact Name of Registrant as Specified in Charter) Delaware 0-27734 04-3036959 - ---------------------------- ------- ---------------- (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No.) 8 New England Executive Park W. Burlington, Massachusetts 01803 - ------------------------------- ---------- (Address of Principal Executive (Zip Code) Offices) Registrant's telephone number, including area code: (617) 273-6000 -------------- Item 5. Other Events. The Board of Directors of Individual, Inc. (the "Company") has terminated the employment of Joseph A. Amram, a founder and former President and Chief Executive Officer of the Company. The Company has commenced a search for a new Chief Executive Officer. The Board has established an Office of the President consisting of Janesse T. Bruce, the Company's Senior Vice President and General Manager, Internet and Single-User Services, Bruce D. Glabe, the Company's Executive Vice President, and Robert L. Lentz, the Company's Vice President, Finance and Chief Financial Officer, to manage the Company pending successful completion of the search. The Company has elected William A. Devereaux, a director of the Company since 1989, to serve as Chairman of the Board. There can be no assurance that the management changes implemented by the Company, including the termination of Mr. Amram, the establishment of the Office of the President and the search for a new Chief Executive Officer, will not have a material adverse affect on the Company's business, results of operations and financial condition, as well as on perceptions of the Company by current and prospective investors. Ms. Bruce and Mr. Lentz have been with the Company for only a short period of time, having joined the Company in January 1996 and March 1996, respectively. Mr. Glabe has been with the Company since May 1994. There can be no assurance that Ms. Bruce, Mr. Glabe and Mr. Lentz will be able to effectively manage the Company pending the search for a new Chief Executive Officer. In addition, there can be no assurance that the Company will be successful in recruiting a new Chief Executive Officer in a timely fashion, or that a new Chief Executive Officer, if hired, will be able to successfully manage the Company. For additional information concerning these management changes, see the --- Company's press release dated August 7, 1996, a copy of which is attached to this Form 8-K as Exhibit 99.1 and incorporated herein by reference thereto. ------------ Item 7. Financial Statements and Exhibits. (c) Exhibits. -------- Exhibit No. Description - ----------- ----------- 99.1 Press Release of Individual, Inc. dated August 7, 1996 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. Individual, Inc. ---------------------------------- (Registrant) Date: August 8, 1996 /s/ Robert L. Lentz ---------------------------------- Robert L. Lentz Vice President, Finance and Chief Financial Officer EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 99.1 Press Release of Individual, Inc. dated August 7, 1996 EX-99.1 2 PRESS RELEASE OF INDIVIDUAL, INC. DATED AUGUST 7, 1996 EXHIBIT 99.1 For further information, contact: Bruce Glabe Individual, Inc. (617) 273-6000 x 308 glabe@individual.com INDIVIDUAL, INC. ANNOUNCES TERMINATION OF JOSEPH AMRAM'S EMPLOYMENT Burlington, MA August 7, 1996--Individual, Inc. (NASDAQ: INDV) announced today that the Board of Directors has terminated the employment of Joseph Amram. Mr. Amram, a founder of the Company, has served as the Company's President and Chief Executive Officer. As previously announced on July 24, 1996, Mr. Amram has been on an indefinite leave of absence from the Company. Mr. Amram remains a member of the Board of Directors. Also previously announced, the Company has commenced a search for a new Chief Executive Officer. The Board has established an Office of the President, consisting of Jan Bruce, Senior Vice President, Bruce Glabe, Executive Vice President and Robert Lentz, Vice President, Finance and Chief Financial Officer to manage the Company pending successful completion of this search. Individual, Inc. is a pioneer and leading innovator of electronic personalized information services. Through its exclusive information retrieval, filtering and delivery technologies, Individual brings highly relevant, precisely targeted news, information, and advertising to more than 280,000 readers worldwide. Individual's services include: First! for corporate enterprises; NewsPage, a comprehensive custom news site on the World Wide Web (http://www.newspage.com); BookWire, a book and publishing information site on the Web (http://www.bookwire.com); and FreeLoader, the first Web off-line delivery service (http://www.freeloader.com). Individual's partners include Lotus, Knight-Ridder, Microsoft Corp., NETCOM, Netscape and Toshiba. Individual is headquartered in Burlington, Mass., with offices around the world. Visit Individual on the Web at http://www.individual.com. -----END PRIVACY-ENHANCED MESSAGE-----