SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
CURRENT REPORT Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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|Item 5.02||Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.|
On September 15, 2020, Jeffrey R. Passmore submitted his resignation as Chief Financial Officer and all other positions with Hallmark Financial Services, Inc. (the “Company”) and its subsidiaries, effective September 30, 2020, to accept a position with another company. Mr. Passmore subsequently agreed to extend the effective date of his resignation to October 9, 2020. His departure is not the result of any disagreement with the Company or any of its affiliates on any matter relating to the Company’s operations, policies or practices. The Company intends to conduct a search for a replacement Chief Financial Officer.
On September 21, 2020, the Board of Directors of the Company promoted Christopher J. Kenney to the position of Chief Accounting Officer. In such position, Mr. Kenney will serve as the principal accounting officer and interim principal financial officer. Mr. Kenney, age 58, has served as Senior Vice President of Accounting of the Company since 2004. From 2003 to 2004, he served as Senior Vice President of Accounting for Affirmative Insurance Holdings, Inc. From 2000 to 2003, Mr. Kenney served as Controller of Associates Insurance Group, a subsidiary of The Travelers Companies, Inc. From 1994 to 2000, he served in various accounting positions with Associates Insurance Group, the insurance division of Associates First Capital Corporation, rising to the Controller. Mr. Kenney is a Certified Public Accountant licensed in Texas.
Mr. Kenney has no written employment agreement with the Company and is an at-will employee. In connection with his new responsibilities, Mr. Kenney’s current salary has been set at $260,000 per year. He is eligible to receive discretionary annual bonuses and participate in the Company’s 2015 Long Term Incentive Plan along with other managerial employees of the Company. Mr. Kenney has no family relationship with any director or other executive officer of the Company. There are no transactions in which Mr. Kenney has an interest requiring disclosure under Item 404(a) of Regulation S-K.
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 duly authorized.
|HALLMARK FINANCIAL SERVICES, INC.|
|Date: September 21, 2020||By:||/s/ NAVEEN ANAND|
|Naveen Anand, Chief Executive Officer|