Current Report Filing (8-k)

Date : 06/14/2019 @ 12:56PM
Source : Edgar (US Regulatory)
Stock : Alaska Communications Systems Group Inc (ALSK)
Quote : 1.72  -0.01 (-0.58%) @ 12:59AM

Current Report Filing (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 (Date of earliest event reported) : June 12, 2019


ALASKA COMMUNICATIONS SYSTEMS GROUP, INC .
(Exact name of registrant as specified in its charter)


Delaware   001-38341   52-2126573
(State or other jurisdiction
  (Commission   (IRS Employer
of incorporation)
File Number)
  Identification No.)
                                                                                  

                                                                                                                                                        
600 Telephone Avenue, Anchorage, Alaska  
99503-6091
(Address of principal executive offices)
(Zip Code)

 
                                                                                                                                                                                                    
Registrant’s telephone number, including area code
907 - 297 – 3000




(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:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol
Name of each exchange on which registered
Common Stock, par value $.01 per share  
  ALSK The Nasdaq Stock Market LLC
                                                                     
                                                                                                                                                                       
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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 14, 2019, Alaska Communications Systems Group, Inc. (the "Company") issued a press release announcing that its CEO and President, Anand Vadapalli, had reach an agreement with the Company to depart the company and its board of directors on June 30, 2019.  Pursuant to that agreement, Mr. Vadapalli will receive payments approximately equal to the base pay, annual incentive compensation, and deferred compensation that he would have received for 2019 if: (i) his employment had continued through the end of the year; and (ii) his incentive and deferred compensation had been granted at negotiated levels.  Mr. Vadapalli’s existing unvested equity awards will be eligible for vesting with the same performance or time factors as other executives.  The agreement also provides that Mr. Vadapalli will serve as an advisor for the board and management through the end of 2019.

Effective July 1, 2019, the Company’s board of directors appointed the Company’s current Chief Operations Officer, William H. Bishop, 53, as interim CEO while the board conducts a candidate search for a permanent CEO.  Mr. Bishop joined the Company in August 2004 and has served in several leadership roles in consumer and business sales and operations, including most recently serving as senior vice president of customer and revenue management prior to becoming COO in April 2019.

The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.
Description
   
99.1
Press Release of the Company, dated June 14, 2019.

                         

                       
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.
 
 
Date:              June 14, 2019  
Alaska Communications Systems Group, Inc.
   
   
   
  /s/ Leonard A. Steinberg
  Leonard A. Steinberg
  Corporate Secretary
                                                                                  
 

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