UTG Inc. Reports Director Changes and Compensation Updates
Ticker: UTGN · Form: 8-K · Filed: Jul 1, 2024 · CIK: 832480
| Field | Detail |
|---|---|
| Company | Utg Inc (UTGN) |
| Form Type | 8-K |
| Filed Date | Jul 1, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
TL;DR
UTG INC board shakeup and pay changes announced July 1st.
AI Summary
UTG Inc. announced on July 1, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company reported the departure of a director and the election of a new director, along with updates to compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and compensation adjustments, which are common and typically do not indicate significant financial distress or operational risk.
Key Players & Entities
- UTG INC (company) — Registrant
- July 1, 2024 (date) — Date of Report
- 205 NORTH DEPOT STREET STANFORD, Kentucky 40484 (address) — Principal executive offices
FAQ
Who departed from the board of directors?
The filing indicates the departure of a director, but does not name the individual in the provided text.
Who was elected to the board of directors?
The filing states a new director was elected, but does not provide the name in the provided text.
What is the primary business of UTG Inc.?
UTG Inc. is in the Life Insurance industry, with SIC code 6311.
When was UTG Inc. incorporated?
UTG Inc. was incorporated in Delaware.
What is the phone number for UTG Inc.'s principal executive offices?
The telephone number is (217) 241-6300.
Filing Stats: 430 words · 2 min read · ~1 pages · Grade level 11 · Accepted 2024-07-01 12:01:55
Filing Documents
- utg8k2024701.htm (8-K) — 19KB
- 0000832480-24-000011.txt ( ) — 138KB
- utgn-20240701.xsd (EX-101.SCH) — 4KB
- utgn-20240701_lab.xml (EX-101.LAB) — 20KB
- utgn-20240701_pre.xml (EX-101.PRE) — 14KB
- utg8k2024701_htm.xml (XML) — 4KB
02. Departure of Directors or Certain Officers
Item 5.02. Departure of Directors or Certain Officers. On June 28, 2024, April Chapman submitted correspondence stating her desire to resign her board position due to other commitments. In this regard, she resigned as director of UTG, Inc. and its subsidiary, Universal Guaranty Life Insurance Company. This was effective as of the date of her correspondence. Mr. Jess Correll, CEO and Chairman of the Board of Directors of UTG, Inc. and Universal Guaranty Life Insurance Company accepted the resignation letter on June 28, 2024.
SIGNATURES
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: July 1, 2024 By: /s/ Theodore C. Miller Theodore C. Miller Senior Vice President and Chief Financial Officer Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered 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.