0000101199-15-000153.txt : 20150406 0000101199-15-000153.hdr.sgml : 20150406 20150406140312 ACCESSION NUMBER: 0000101199-15-000153 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150406 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150406 DATE AS OF CHANGE: 20150406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITED FIRE GROUP INC CENTRAL INDEX KEY: 0000101199 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 452302834 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34257 FILM NUMBER: 15753152 BUSINESS ADDRESS: STREET 1: 118 SECOND AVE SE CITY: CEDAR RAPIDS STATE: IA ZIP: 52401 BUSINESS PHONE: 3193995700 MAIL ADDRESS: STREET 1: P O BOX 73909 CITY: CEDAR RAPIDS STATE: IA ZIP: 52407 FORMER COMPANY: FORMER CONFORMED NAME: UNITED FIRE GROUP, INC. DATE OF NAME CHANGE: 20120202 FORMER COMPANY: FORMER CONFORMED NAME: UNITED FIRE & CASUALTY CO DATE OF NAME CHANGE: 19920703 8-K 1 a8kufg4-06x15.htm 8-K 8K UFG 4-06-15
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): April 6, 2015
United Fire Group, Inc.
(Exact name of registrant as specified in its charter)
 
Iowa
 
001-34257
 
45-2302834
(State or other jurisdiction
of incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)
 
118 Second Avenue, S.E.,
Cedar Rapids, Iowa
 
 
52401
(Address of principal executive offices)
 
(Zip Code)
 
 
Registrant's telephone number, including area code: (319) 399-5700
 
______________________________________________________________
(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:
o
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On April 6, 2015, the Company announced the appointment of Dawn M. Jaffray, age 48, as Chief Financial Officer, effective April 27, 2015. Ms. Jaffray will report directly to Randy A. Ramlo, President and Chief Executive Officer. Ms. Jaffray is a graduate of the University of Windsor School of Business (Finance/Accounting 1988) and is a CPA,CGA (chartered professional accountant, certified general accountant). Additionally, she is a certified investor relations officer (University of California - Irvine). Ms. Jaffray was most recently chief financial officer of Soleil Advisory Group, specializing in operational consulting, merger and acquisition, investments and strategy (2009-2015). Prior to her service with Soleil Advisory Group, Ms. Jaffray held numerous positions in insurance operations and mergers / acquisition activities, primarily in the role of principal financial officer. Ms. Jaffray's business experience has been focused in particular on insurance, finance and capital management.
Ms. Jaffray will receive an initial base salary of $365,000 per year and will be eligible to receive an annual cash bonus of up to 30 percent of her base salary to be determined pursuant to the Company's annual incentive plan. She will also be eligible to participate in the Company's compensation and benefit plans to the same extent as provided to the Company's other senior executive officers.
Ms. Jaffray will also be expected to enter into the Company's standard form of Change in Control Severance Agreement for its named executive officers. The agreement, among other things, provides for: 1) an 18-month non-competition agreement and 2) in the event of both a change in control and termination of employment by the Company without cause: a) a severance benefit payable to the named executive officer in an amount equal to 1.5 times her highest annual base salary plus target annual incentive compensation, b) the continuation of certain insurance benefits for a period of 18 months, c) the full vesting of each long-term incentive award held by the named executive officer, with any performance measures deemed satisfied at the target level, and d) certain outplacement benefits.
The Company's press release dated April 6, 2015 announcing the appointment is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
(a) Exhibits.

The following exhibits are furnished herewith:
Exhibit Number
Exhibit Description
99.1
Press release of United Fire Group, Inc. dated April 6, 2015.

Page 2


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.

 
UNITED FIRE GROUP, INC.
 
 
 
Date: April 6, 2015
By:
/s/ Randy A. Ramlo
 
 
Name: Randy A. Ramlo
 
 
Title: President and CEO

Page 3


EXHIBIT INDEX
Exhibit Number
Exhibit Description
99.1
Press release of United Fire Group, Inc. dated April 6, 2015.



Page 4
EX-99.1 2 ufgpressrelease4-06x15.htm EXHIBIT 99.1 UFG Press Release 4-06-15


Exhibit 99.1


United Fire Group, Inc. Announces the Appointment of Dawn M. Jaffray, Chief Financial Officer
CEDAR RAPIDS, IOWA - April 6, 2015 - Today, United Fire Group, Inc. (NASDAQ: UFCS) (the "Company" or "UFG") announced the appointment of Dawn M. Jaffray, age 48, as Chief Financial Officer, effective April 27, 2015. Ms. Jaffray brings more than 27 years of experience to UFG, including extensive operational and financial experience with global publicly- and privately-held insurance- and financial services-related companies. Ms. Jaffray's business experience has been focused on insurance, finance and capital management. Ms. Jaffray will report directly to Randy A. Ramlo, President and Chief Executive Officer of UFG.
Ms. Jaffray was most recently chief financial officer of Soleil Advisory Group, specializing in operational consulting, merger and acquisition, investment and strategy. From 2007 to 2008, Ms. Jaffray was chief financial officer of Westaff, a publicly-traded international staffing firm. From 2005 to 2007, Ms. Jaffray was chief financial officer of the North America Business Unit of Dun & Bradstreet, a publicly-traded information, data and technology company. From 1999 to 2005, Ms. Jaffray was senior vice president and senior finance officer for the property and casualty business of C.N.A. Insurance, a publicly-traded insurance company. From 1993 to 1999, Ms. Jaffray was senior finance manager for Progressive Insurance and Dominion Insurance, publicly-traded property and casualty insurance companies.
Ms. Jaffray is a graduate of the University of Windsor School of Business (Finance/Accounting 1988) and is a CPA,CGA (chartered professional accountant,certified general accountant of Canada). Additionally, she is a certified investor relations officer (University of California - Irvine).
"After an extensive search with several qualified candidates, it became clear that Dawn has the qualities and experience we were searching for in a CFO candidate," stated Randy A. Ramlo, President and Chief Executive Officer. "We are excited to welcome her as part of our management team."
About United Fire Group, Inc.:
Founded in 1946 as United Fire & Casualty Company, United Fire Group, Inc., through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance and life insurance as well as selling annuities.
Through our subsidiaries, we are licensed as a property and casualty insurer in 43 states, plus the District of Columbia, and we are represented by approximately 1,200 independent insurance agencies. The United Fire pooled group is rated "A" (Excellent) by A.M. Best Company.
Our subsidiary, United Life Insurance Company, is licensed in 37 states, represented by approximately 1,000 independent life insurance agencies and rated "A-" (Excellent) by A.M. Best Company.
For more information about United Fire Group, Inc. visit www.unitedfiregroup.com.
Contact: Anita Novak, Director of Investor Relations, 319-399-5251 or alnovak@unitedfiregroup.com


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