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Form 8-K APPLIANCE RECYCLING CENT For: May 20

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June 2, 2016 12:18 PM EDT


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)             May 20, 2016
 
Appliance Recycling Centers of America, Inc.
(Exact name of registrant as specified in its charter)
 
Minnesota
 
000-19621
 
41-1454591
(State or other jurisdiction
 
(Commission
 
(IRS Employer
of incorporation)
 
File Number)
 
Identification No.)
 
 
 
 
 
 
175 Jackson Avenue North, Suite 102, Minneapolis, Minnesota
 
55343-4565
(Address of principal executive offices)
 
(Zip Code)
 
 
 
 
Registrant’s telephone number, including area code     (952) 930-9000
 
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:
 
o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 




Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
(b)
On May 20, 2016, Jeffery Ostapeic notified Appliance Recycling Centers of America, Inc. (the “Company”) of his resignation from the position of Chief Financial Officer effective as of June 30, 2016. In connection with his departure, the Company has paid Mr. Ostapeic a bonus of $100,000.  Mr. Ostapeic’s resignation was not related to any disagreement with the Company or its management.  Mr. Ostapeic will continue to serve as Chief Financial Officer through June 30, 2016 and during such period will assist in providing an orderly transition for his successor.  The Company has commenced an evaluation of candidates for the role of Chief Financial Officer.
 

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.
 
 
 
Appliance Recycling Centers of America, Inc.
 
 
 
Date: May 26, 2016
 
/s/ Tony Isaac
 
 
 
 
Tony Isaac
Chief Executive Officer





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