0000313716-16-000151.txt : 20161103 0000313716-16-000151.hdr.sgml : 20161103 20161103143803 ACCESSION NUMBER: 0000313716-16-000151 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20161028 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: 20161103 DATE AS OF CHANGE: 20161103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARDINGE INC CENTRAL INDEX KEY: 0000313716 STANDARD INDUSTRIAL CLASSIFICATION: MACHINE TOOLS, METAL CUTTING TYPES [3541] IRS NUMBER: 160470200 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34639 FILM NUMBER: 161971192 BUSINESS ADDRESS: STREET 1: ONE HARDINGE DRIVE CITY: ELMIRA STATE: NY ZIP: 14902 BUSINESS PHONE: 6077342281 MAIL ADDRESS: STREET 1: ONE HARDINGE DRIVE CITY: ELMIRA STATE: NY ZIP: 14902 FORMER COMPANY: FORMER CONFORMED NAME: HARDINGE BROTHERS INC DATE OF NAME CHANGE: 19920703 8-K 1 appointmentofnewdirectorle.htm 8-K Document


 
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): October 28, 2016
 
 hardingehoriz646a02a01a09.jpg
Hardinge Inc.
(Exact name of registrant as specified in its charter) 
New York
 
000-15760
 
16-0470200
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(I.R.S. Employer Identification Number)
 
 
 
 
 
One Hardinge Drive
Elmira, NY
 
 
 
14902
(Address of principal executive offices)
 
 
 
(Zip Code)
 
(607) 734-2281
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former name, former address and former fiscal year, 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 communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o Soliciting material 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 October 28, 2016, the Board of Directors (the “Board”) of Hardinge Inc. (the “Company”) elected Ryan Levenson as a director of the Company to fill the vacancy caused as a result of the resignation of John J. Perrotti from the Board.

Mr. Levenson will serve on the Board as a Class III Director. As of the date of this Current Report on Form 8-K, Mr. Levenson has not been appointed as a member of any of the committees of the Board.

For the Company's fiscal year ending December 31, 2016, Mr. Levenson will be compensated in his capacity as a director of the Company, as follows:

Compensation Element
Compensation Amount
Director Fees*
$95,000 per year payable in shares of the Company’s Common Stock in quarterly installments.
Meeting Fees
None.
* For the fiscal year ending December 31, 2016, Mr. Levenson will be eligible to receive an amount equal to two-thirds of one quarterly installment of Director Fees (equal to $15,833), payable in accordance with the fee schedule referenced above.

As a member of the Board, Mr. Levenson will also be eligible to participate in the Hardinge Inc. Deferred Compensation Plan for Directors which allows directors of the Company to defer to a future date the receipt of their director compensation.

A copy of the Company’s press release announcing the election of Mr. Levenson to the Company’s Board is attached hereto as Exhibit 99.1.











Item 9.01. Financial Statements and Exhibits.

(d)    Exhibits.

Exhibit No.
 
Description
99.1
 
Press Release, dated November 3, 2016.









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.
 
 
 
 
Hardinge Inc.
 
 
 
(Registrant)
Date
November 3, 2016
 
 
 
 
 
/s/ Douglas J. Malone
 
 
 
Douglas J. Malone
Vice President and Chief Financial Officer



EX-99.1 2 exh991hdngboardadditionlev.htm EXHIBIT 99.1 Exhibit

hardingehoriz646a02a01a09.jpg
NEWS
RELEASE


Hardinge Inc. One Hardinge Drive, Elmira, N.Y. 14902

For more information contact:
 
 
 
 
 
Company:
Investor Relations:
 
Douglas J. Malone
Chief Financial Officer
Deborah K. Pawlowski, Kei Advisors LLC Phone: (716) 843-3908
Phone: (607) 378-4140
Email: dpawlowski@keiadvisors.com




Hardinge Inc. Appoints Ryan Levenson to Board of Directors
ELMIRA, NY, November 3, 2016 — The Board of Directors of Hardinge Inc. (NASDAQ: HDNG), a leading international provider of advanced metal-cutting solutions and accessories, announced that it has appointed Ryan Levenson of Privet Fund Management LLC, to serve as a Director. Privet Fund Management currently owns 9.7% of the Company’s common stock outstanding.
Mr. Richard L. Simons, on behalf of the Board of Directors, stated, “We welcome Ryan to the Board and look forward to his contributions to our strategy to grow Hardinge both organically and through acquisitions. We believe his experience will complement the wealth of knowledge our Board represents.”
Ryan Levenson is currently Principal and Portfolio Manager of Privet Fund Management LLC.  Mr. Levenson currently serves as a director of Frequency Electronics, Inc (NASDAQ: FEIM) and Cicero, Inc. (OTC:CICN). Previously, Mr. Levenson served as a director of RELM Wireless, Inc., where he served as a member of the Audit Committee, and as a director and member of the Compensation, Organization and Corporate Governance Committee of Material Sciences Corp. from May 2013 until its sale in March 2014. Mr. Levenson also served as a member of the Board of Directors and Compensation and Audit Committees of The Middleby Corporation from May 2006 until November 2012. Prior to founding Privet Fund Management LLC in February 2007, Mr. Levenson served as Vice President of Business Development at MSI, a privately held building products distributor and construction services company, from 2003 until 2006. Prior to his service with MSI, Mr. Levenson served as a financial analyst for Cramer Rosenthal McGlynn's long/short equity hedge fund after working at SAC Capital Advisors LLC in a similar capacity.
About Hardinge
Hardinge is a leading global designer and manufacturer of high precision, computer-controlled machine tool solutions developed for critical, hard-to-machine metal parts and of technologically advanced workholding accessories. The Company’s strategy is to leverage its global brand strength to further penetrate global market opportunities where customers will benefit from the technologically advanced, high quality, reliable products Hardinge produces. With approximately two-thirds of its sales outside of North America, Hardinge serves the worldwide metal working market. Hardinge’s machine tool and accessory solutions can also be found in a broad base of industries to include aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology and transportation.
Hardinge applies its engineering design and manufacturing expertise in high performance machining centers, high-end cylindrical and jig grinding machines, SUPER-PRECISION® and precision CNC lathes and technologically advanced workholding accessories. Hardinge has manufacturing operations in China, France, Germany, India, Switzerland, Taiwan, the United Kingdom and the United States.

-END-

Hardinge Inc. Appoints Ryan Levenson to Board of Directors
November 3, 2016
Page 2 of 2

The Company regularly posts information on its website: www.hardinge.com.
Safe Harbor Statement
This news release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Such statements are based on management's current expectations that involve risks and uncertainties. Any statements that are not statements of historical fact or that are about future events may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "predicts," "potential," "continue," "strategy," "believes," "anticipates," "plans," "expects," "intends," and similar expressions are intended to identify forward-looking statements. The Company's actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

-END-
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