8-K

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): September 5, 2007

Calamos Asset Management, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware
(State or Other Jurisdiction
of Incorporation) 0-51003
(Commission File Number) 32-0122554
(I.R.S. Employer
Identification No.)

2020 Calamos Court Naperville, Illinois	60563
(Address of Principal Executive Offices)	(Zip Code)

REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE: (630) 245-7200

Not Applicable
(Former Name and 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))

TABLE OF CONTENTS

Press Release

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

          (b) On September 6, 2007, Calamos Asset Management, Inc. (“Corporation”) announced that James S. Hamman, Jr. (“Executive”), the Corporation’s Executive Vice President, General Counsel and Secretary, will be leaving the Corporation effective September 14, 2007.

          (e) The Corporation and the Executive entered into a Transition Agreement relating to Mr. Hamman’s departure, effective September 5, 2007. Pursuant to the Transition Agreement, Mr. Hamman will provide advisory services and assist the Corporation in the orderly transition of his duties and responsibilities for a transition period through December 31, 2007, or such shorter period of time as the Executive and the Corporation’s Chief Executive Officer may mutually agree or as the Corporation may determine. Mr. Hamman will receive base salary through his final day of employment on September 14, 2007, at which time all of his unvested equity awards will be forfeited and cancelled. Provided Mr. Hamman performs his duties as contemplated by the Transition Agreement he will be entitled to payment of $650,000 on September 14, 2007, and a second payment of $650,000 at the end of the advisory service period.

          The foregoing description of the Transition Agreement does not purport to be complete and is qualified in its entirety by the terms and conditions of the Transition Agreement, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2007.

Item 9.01. Financial Statements and Exhibits.

     (c) Exhibits

          99.1 Press Release of Calamos Asset Management issued September 6, 2007, announcing James S. Hamman, Jr.’s departure from the Corporation.

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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.

	CALAMOS ASSET MANAGEMENT, INC.
Date: September 6, 2007	By:	/s/ Scott Craven Jones
		Scott Craven Jones
		Executive Vice President and Chief Administrative Officer

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Exhibit Index

Exhibit Number	Description
99.1	Press release dated September 6, 2007 issued by the Corporation announcing James S. Hamman, Jr.’s departure from the Corporation.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:
Peter D. Nash
Calamos Asset Management, Inc.
630.955.4830

Calamos Asset Management, Inc. Announces Departure of General Counsel and Secretary James S. Hamman, Jr.

     NAPERVILLE, Ill., Sept. 6, 2007 — Calamos Asset Management, Inc. (NASDAQ: CLMS) today announced that James S. Hamman, Jr., general counsel and secretary for the past nine years, has decided to leave the organization later this month. Calamos said that a search for his successor would be initiated shortly.

     Calamos Asset Management, Inc. (NASDAQ: CLMS) is a diversified investment firm offering equity, fixed-income, convertible and alternative investment strategies, among others. The firm serves institutions and individuals via separately managed accounts and a family of open-end and closed-end funds, offering a risk-managed approach to capital appreciation and income-producing strategies. For more information, visit www.calamos.com.

     From time to time, information or statements provided by us, including those within this news release, may contain certain forward-looking statements relating to future events, future financial performance, strategies, expectations, the competitive environment and regulations. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. For a discussion concerning some of these and other risks, uncertainties and other important factors that could affect future results, see “Forward-Looking Information” in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, where applicable, “Risk Factors” in the company’s annual and quarterly reports filed with the U.S. Securities and Exchange Commission.

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