Current Report Filing (8-k)
September 13 2017 - 11:24AM
Edgar (US Regulatory)
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 12, 2017
CITIZENS, INC.
(Exact
name of registrant as specified in its charter)
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COLORADO
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0-16509
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84-0755371
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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2900 Esperanza Crossing
Austin, Texas 78758
(Address of principal executive offices) (Zip Code)
(512)
837-7100
(Registrants 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:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to
Rule 14a-12
under the Exchange Act (17 CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to
Rule 14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to
Rule 13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§ 240.12b-2
of
this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02
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Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
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On September 12, 2017, Citizens, Inc. (Citizens or the Company) announced the appointment of David S. Jorgensen as General
Manager for International Operations of CICA Life, Ltd. (Bermuda). Mr. Jorgensen has more than 25 years of experience in the life insurance industry, particularly in oversight of international insurance operations in his most recent role as
Chief Financial Officer and Treasurer of Citizens. Prior to joining the Company, Mr. Jorgensen was Chief Financial Officer of AIG Life of Bermuda from 2014 to 2015, where he gained experience in Bermuda Solvency Capital Requirements
(BSCR), corporate governance, risk assessment and risk management under the BSCR. In his new role, he will be responsible for leading CICA Life, Ltd. operations, expanding the Companys international footprint globally and
implementing strategic changes to the Companys current international business model.
Mr. Jorgensen is succeeded by Kay E. Osbourn, who will
serve as Citizens Executive Vice President, Chief Financial Officer and Chief Investment Officer. Ms. Osbourn was most recently the Companys President. Since joining the Company in 2008, Ms. Osbourn has served in a number of
management roles including Vice President, Internal Audit, Treasurer, Chief Financial Officer and Interim Chief Executive Officer. Ms. Osbourn has extensive experience in the insurance industry and with the Company.
Geoffrey M. Kolander, Citizens current Chief Executive Officer, will succeed Ms. Osbourn as President and serve in the role of President and CEO of
Citizens, Inc.
In connection with the change in roles, Mr. Jorgensens employment agreement as Chief Financial Officer has been
terminated.
CICA Life, Ltd. is a wholly owned subsidiary of Citizens, Inc. Other insurance companies in the Citizens Inc. Group
are CICA Life Insurance Company of America and Security Plan Life Insurance Company.
Item 9.01
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Financial Statements and Exhibits
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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.
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CITIZENS, INC
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By:
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/s/ Geoffrey M. Kolander
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President and Chief Executive Officer
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Date: September 13, 2017
EXHIBIT INDEX
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Exhibit
No.
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Description
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10.1
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Termination Agreement, dated as of September 12, 2017, by and between Citizens, Inc. and David S. Jorgensen
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