-----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, O71JOyM/tYwCwmV5Awtoby8MUfe/25SUeS2r3Zc/Vtsl3EZCXLLyAsIdCmngxtH1 Mo0xxh0GPQ3JKcc2S/wSeA== 0001102624-07-000065.txt : 20070301 0001102624-07-000065.hdr.sgml : 20070301 20070301103845 ACCESSION NUMBER: 0001102624-07-000065 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070226 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: 20070301 DATE AS OF CHANGE: 20070301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FINANCIAL INDUSTRIES CORP CENTRAL INDEX KEY: 0000035733 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 742126975 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-04690 FILM NUMBER: 07660928 BUSINESS ADDRESS: STREET 1: LEGAL DEPARTMENT STREET 2: 6500 RIVER PLACE BLVD., BUILDING ONE CITY: AUSTIN STATE: TX ZIP: 78730 BUSINESS PHONE: 512 404-5000 MAIL ADDRESS: STREET 1: 6500 RIVER PLACE BLVD., BUILDING ONE STREET 2: LEGAL DEPARTMENT CITY: AUSTIN STATE: TX ZIP: 78730 FORMER COMPANY: FORMER CONFORMED NAME: GOLDEN UNITED INVESTMENT CO STOCK PLAN DATE OF NAME CHANGE: 19731128 FORMER COMPANY: FORMER CONFORMED NAME: ILEX CORP DATE OF NAME CHANGE: 19730801 FORMER COMPANY: FORMER CONFORMED NAME: GOLDEN UNITED INVESTMENT CO DATE OF NAME CHANGE: 19730801 8-K 1 financialindustries8k.htm FINANCIAL INDUSTRIES 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: February 26, 2007
(Date of earliest event reported)

Financial Industries Corporation
(Exact name of registrant as specified in its charter)

TX
(State or other jurisdiction
of incorporation) 		0-4690
(Commission File Number) 		74-2126975
(IRS Employer
Identification Number)

6500 River Place Boulevard, Building I
(Address of principal executive offices) 		  78730
(Zip Code)

512-404-5000
(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:
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 Principal Officers; Election of Directors; Appointment of Principal Officers

Per the announcement made on February 28, 2007, the Company has appointed Mr. William J. McCarthy as the Company's Senior Vice President and Chief Actuary. Mr. McCarthy, age 60, officially assumed the position and duties on February 26, 2007.

Prior to joining the Company, Mr. McCarthy served as Vice President and Chief Actuary for Citizens, Inc., from 2004-2006, and as Vice President and Chief Actuary for London Pacific Life and Annuity, from 1991-2002.

In connection with his employment, Mr. McCarthy received a letter which set forth the terms of his employment with the Company (the "Employment Letter"). The Employment Letter provides that Mr. McCarthy will be paid a base salary of $195,000 per year and will be eligible for an annual incentive reward based on specific requirements agreed upon in advance between the CEO and Mr. McCarthy. The Employment Letter also provides that he may receive long-term incentives in the form of a grant of options to purchase 15,000 shares of the Company's common stock at an exercise price equal to the fair market value on the date that the options are granted. The option provision is conditional upon the approval of an equity option plan by the shareholders of the Company. Accordingly, such options would be granted only following shareholder approval of the equity option plan and approval by the Company's Compensation Committee of a grant of options. Said employment letter is terminable at any time by either the Com pany or Mr. McCarthy.

A copy of FIC's press release dated February 28, 2007, is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits

(a) Financial statements:
            None
(b) Pro forma financial information:
            None
(c) Shell company transactions:
            None
(d) Exhibits
            99.1       Press Release of Financial Industries Corporation dated February 26, 2007

SIGNATURE

      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: February 26, 2007
 FINANCIAL INDUSTRIES CORPORATION

By:  /s/ William Prouty                    
     William Prouty
     Chief Executive Officer

Exhibit Index
Exhibit No. Description
99.1 Press Release of Financial Industries Corporation dated February 26, 2007
EX-99 2 financialindustries.htm FINANCIAL INDUSTRIES PRESS RELEASE

Financial Industries Corporation Appoints New Chief Actuary

AUSTIN, TX -- 02/28/2007 -- Financial Industries Corporation (PINKSHEETS: FNIN) announced today the appointment of William J. McCarthy as senior vice president and chief actuary.

McCarthy comes to FIC with 38 years of broad actuarial experience in the life insurance industry. He was most recently vice president and chief actuary of Citizens, Inc., of Austin, Texas.

"We are pleased to welcome Bill to the FIC team," said William Prouty, FIC's chief executive officer. "His broad experience in product development, pricing, asset-liability management, reserving and valuation are just what we were looking for in someone who will oversee our actuarial function."

McCarthy has a bachelor's degree in mathematics from Worcester Polytechnic Institute and a master's degree in actuarial science from Northeastern University. He is a Fellow of the Society of Actuaries and Member of the American Academy of Actuaries.

FIC, through its Investors Life Insurance Company of North America subsidiary, markets and underwrites individual life insurance products. For more information on FIC, go to http://www.ficgroup.com on the Internet.

Statements in this document relating to future developments, disclosures and other statements that are not historical facts are forward-looking statements. Actual results may differ materially from these forward-looking statements as a result of market conditions, the timing and results of FIC's audits, reviews and filings with regulatory bodies, the interest of and actions by third parties engaging in transactions with FIC and other factors contained in FIC's Form 10-K for the year ended Dec. 31, 2005, and other filings with the SEC. 

Contact Information:
Financial Industries Corporation
Shannon Coffin
Phone:  512-404-5128
E-mail: ir@ficgroup.com
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