-----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, RSPn+v+JUSm8Xg9Au0JpEI5JLnxhORq+89GYEoV6e/IkM8p56cTo5zEiElC+p8In lgi0J/hS8CNQDXRyr+UJYA== 0000832480-10-000016.txt : 20101228 0000832480-10-000016.hdr.sgml : 20101228 20101228160157 ACCESSION NUMBER: 0000832480-10-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20101228 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20101228 DATE AS OF CHANGE: 20101228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UTG INC CENTRAL INDEX KEY: 0000832480 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 202907892 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16867 FILM NUMBER: 101276026 BUSINESS ADDRESS: STREET 1: PO BOX 5147 STREET 2: 5250 SOUTH SIXTH STREET ROAD CITY: SPRINGFIELD STATE: IL ZIP: 62703 BUSINESS PHONE: 2173236300 MAIL ADDRESS: STREET 1: PO BOX 5147 STREET 2: 5250 SOUTH SIXTH STREET CITY: SPINGFIELD STATE: IL ZIP: 62705 FORMER COMPANY: FORMER CONFORMED NAME: UNITED TRUST GROUP INC DATE OF NAME CHANGE: 20001206 FORMER COMPANY: FORMER CONFORMED NAME: UNITED TRUST INC /IL/ DATE OF NAME CHANGE: 19920703 8-K 1 utg8k20101228.htm COMPENSATION utg8k20101228.htm

 
 
 
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): December 28, 2010
 
 
UTG, INC.
(Exact name of registrant as specified in its charter)
         
Delaware
  
0-16867
  
20-2907892
(State or other jurisdiction of
  
(Commission File Number)
  
(I.R.S. Employer Identification No.)
incorporation or organization)
        
 
5250 South Sixth Street
 
 
Springfield, Illinois 62703
 
 
(Address of principal executive offices and zip code)
 
(217) 241-6300
 
(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):
 
 
o Written communications pursuant to Rule 425 under the Securities Act
 
 
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act
 
 
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
 
 
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
 
 

 


Section 5 – Corporate Governance and Management

Item 5.02.  Compensatory Arrangements of Certain Officers.

At the meeting of the Board of Directors on December 17, 2010, bonuses were approved for Mr. Jesse T. Correll, CEO and Chairman of the Board of Directors, Mr. Theodore C. Miller, Corporate Secretary and CFO, Mr. James P. Rousey, President and Mr. Douglas P. Ditto, Chief Investment Officer and Vice President.  The amount of the bonuses to be paid were contingent upon whether the sale of UTG, Inc.’s 74% indirect owned subsidiary, HPG Acquisitions, LLC (“HPG”) was consummated or not.

On December 27, 2010 the sale of HPG was not expected to occur.  Approved bonuses of $50,000 to Mr. Jesse T. Correll, CEO and Chairman of the Board of Directors, $20,000 to Mr. Theodore C. Miller, Corporate Secretary and CFO, $25,000 to Mr. James P. Rousey, President and $25,000 to Mr. Douglas P. Ditto, Chief Investment Officer and Vice President are to be paid as soon as practical.  The bonuses are based on the Company’s 2010 operating results and are not the result of any written agreement or specific formula.

Messrs. Correll and Rousey are also members of the Board of Directors, but did not participate in the above discussions, nor did they vote.  The Company continues to have no written employment agreements nor oral arrangements with any of its corporate officers.

 
 



 
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.
 

UTG, INC.


 
Date:  December 28, 2010                                                           By:  /s/ Theodore C. Miller                                         0;             
Theodore C. Miller
Senior Vice President and Chief Financial Officer


 


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