Current report, items 5.02 and 9.01

0000315374-06-000018.txt : 20060810 0000315374-06-000018.hdr.sgml : 20060810 20060810164252 ACCESSION NUMBER: 0000315374-06-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060810 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060810 DATE AS OF CHANGE: 20060810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HURCO COMPANIES INC CENTRAL INDEX KEY: 0000315374 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 351150732 STATE OF INCORPORATION: IN FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09143 FILM NUMBER: 061021833 BUSINESS ADDRESS: STREET 1: ONE TECHNOLOGY WAY CITY: INDIANAPOLIS STATE: IN ZIP: 46268 BUSINESS PHONE: 3172935309 MAIL ADDRESS: STREET 1: ONE TECHNOLOGY WAY CITY: INDIANAPOLIS STATE: IN ZIP: 46268 FORMER COMPANY: FORMER CONFORMED NAME: HURCO MANUFACTURING CO INC DATE OF NAME CHANGE: 19850324 8-K 1 aug2006form8-k.htm CURRENT REPORT, ITEMS 5.02 AND 9.01 Current report, items 5.02 and 9.01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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 10, 2006

Hurco Companies, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Indiana

(State or Other Jurisdiction of Incorporation)

0-9143 35-1150732

(Commission File Number) (IRS Employer Identification No.)

One Technology Way

Indianapolis, Indiana 46268

(Address of Principal Executive Offices) (Zip Code)

(317) 293-5309

(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. below):

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 1.01 Entry into a Material Definitive Agreement.

As indicated below, Hurco Companies, Inc. (the "Registrant") hired John Oblazney to serve as its Chief Financial Officer effective September 2, 2006. For a description of the material terms of this employment arrangement, see the information set forth below under Item 5.02, which is incorporated by reference into this Item 1.01.

Item 5.02 Departure of Directors and Principal Officers; Election of Directors; Appointment of Principal Officers.

Hurco Companies, Inc. (the "Registrant") has hired John Oblazney to succeed Stephen Alesia as the Chief Financial Officer of the Registrant, effective September 2, 2006. Mr. Oblazney will receive a signing bonus of $50,000, and his base salary will be set at $165,000 subject to future adjustment. Mr. Oblazney is eligible to receive an annual bonus with a target annual bonus of $30,000. Mr. Oblazney is also entitled to participate in the Registrant's normal benefit programs and will receive a car allowance. Other compensation, such as stock option grants, may be awarded to Mr. Oblazney periodically at the discretion of the Compensation Committee.

Mr. Oblazney, age 38, has served as the Chief Financial Officer of Carrier Corporation’s Light Commercial Business, a division of United Technologies Corporation, since December 2005. Prior to his appointment as Chief Financial Officer, Mr. Oblazney served in various other financial positions with Carrier Corporation, including Director of Finance and Planning (2002-2005), and Manager of Financial Planning and Analysis starting in 2000. Prior to joining United Technologies, Mr. Oblazney was employed six plus years with Cooper Industries where he also quickly progressed into financial management. He began his professional career working with the international accounting firm of Coopers and Lybrand.

A press release regarding Mr. Oblazney's appointment is attached as Exhibit 99.1 to this Current Report on Form 8-K and the information set forth therein is incorporated herein by reference and constitutes a part of this report.

Item 9.01 Financial Statements and Exhibits.

99.1 Press Release dated August 10, 2006.

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.

Dated: August 10, 2006

HURCO COMPANIES, INC.

By: /s/: Michael Doar

Michael Doar, Chairman and

Chief Executive Officer

INDEX TO EXHIBITS

Exhibit No. Description

BDDB01 4486505v2

99.1 Press Release dated August 10, 2006.

EX-99 2 pressrelease.htm PRESS RELEASE AUG 2006 Press Release Aug 2006

FOR IMMEDIATE RELEASE

THURSDAY, AUGUST 10, 2006

HURCO NAMES JOHN OBLAZNEY AS NEW CHIEF FINANCIAL OFFICER

INDIANAPOLIS, INDIANA - August 10, 2006 - Hurco Companies, Inc. (NASDAQ Global Market: HURC)

Hurco Companies, Inc. (the “Company”) announces today that John Oblazney has been hired as the new Chief Financial Officer of the Company effective September 2, 2006. Mr. Oblazney had a very progressive career with United Technologies Corporation from February 2000 until August 2006. He began his employment with United Technologies as Manager of Financial Planning and Analysis. After a short period, he was promoted to Director of Finance and Planning followed by his appointment to the position of Chief Financial Officer for United Technologies, Carrier Corporation’s Light Commercial business. Prior to joining United Technologies, Mr. Oblazney was employed six plus years with Cooper Industries where he also quickly progressed into financial management. He began his professional career working for the international accounting firm of Coopers and Lybrand for three years. Mr. Oblazney received his Bachelor of Business Administration, Accounting from Eastern Michigan University. He was also the recipient of the Peat Marwick, KPMG Foundation Scholarship as the top overall accounting graduate. John received his CPA in 1991 and his MBA from Syracuse University where he graduated with honors.

Hurco Companies, Inc. is an industrial technology company that designs and produces interactive computer controls, software and computerized machine tools for the worldwide metal cutting industry. The end market for the company’s products consists primarily of independent job shops and short-run manufacturing operations within large corporations in industries such as aerospace, defense, medical equipment, energy, transportation and computer equipment. The Company is based in Indianapolis, Indiana, and has sales, application engineering and service subsidiaries in High Wycombe, England; Munich, Germany; Paris, France; Milan, Italy; Shanghai, China and Singapore, along with manufacturing operations in Taiwan. Products are sold through independent agents and distributors in the United States, Europe and Asia. The Company also has direct sales forces in the United Kingdom, Germany, France, Italy and Asia.

Web Site: www.hurco.com

Contact: Hurco Companies, Inc.

Michael Doar

317-293-5309