Form 8-K FIVE STAR QUALITY CARE For: May 08
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 8, 2015
Five Star Quality Care, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Maryland |
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1-16817 |
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04-3516029 |
(State or Other Jurisdiction of |
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(Commission File Number) |
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(IRS Employer Identification No.) |
400 Centre Street, Newton, Massachusetts 02458
(Address of Principal Executive Offices) (Zip Code)
617-796-8387
(Registrants Telephone Number, Including Area Code)
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))
In this Current Report on Form 8-K, the terms the Company, we, us and our refer to Five Star Quality Care, Inc.
Item 5.07 Submission of Matters to a Vote of Security Holders.
At our annual meeting of stockholders held on May 8, 2015, the Companys stockholders elected Ms. Donna D. Fraiche as the Independent Director in Group II of the Board of Directors for a three year term of office until the Companys 2018 annual meeting of stockholders and to serve until her successor shall have been elected and qualified. Ms. Fraiche received the following votes: For 17,181,287; Withhold 17,030,092; and Broker Non-Votes 10,699,890.
The Companys stockholders also elected Mr. Gerard M. Martin as the Managing Director in Group II of the Board of Directors for a three year term of office until the Companys 2018 annual meeting of stockholders and to serve until his successor shall have been elected and qualified. Mr. Martin received the following votes: For 20,151,255; Withhold 14,060,124; Broker Non-Votes 10,699,890.
The Companys stockholders approved a nonbinding advisory resolution on the compensation paid to the Companys executive officers as disclosed pursuant to Item 402 of Regulation S-K in the Companys proxy statement relating to the Companys 2015 annual meeting of stockholders. This proposal received the following votes: For 25,912,582; Against 6,396,738; Abstain 1,902,059; Broker Non-Votes 10,699,890.
The Companys shareholders ratified the appointment of McGladrey LLP as the Companys independent registered public accounting firm for the fiscal year ending December 31, 2015. This proposal received the following votes: For 43,656,164; Against 590,680; Abstain 664,425; Broker Non-Votes 0.
The results reported above are final voting results.
Item 8.01 Other Events.
On May 8, 2015, the Company updated its Director compensation arrangements. A summary of the Companys currently effective Director compensation arrangements is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Consistent with the Companys Director compensation arrangements, on May 8, 2015, the Company granted each of the Companys Directors 10,000 shares of the Companys common stock, valued at $4.12 per share, which was the closing price of the Companys common stock on the New York Stock Exchange on that day.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
10.1 Summary of Director Compensation
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.
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FIVE STAR QUALITY CARE, INC. | |
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By: |
/s/ Paul V. Hoagland |
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Name: |
Paul V. Hoagland |
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Title: |
Treasurer and Chief Financial Officer |
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Date: May 11, 2015 |
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Exhibit 10.1
FIVE STAR QUALITY CARE, INC.
Summary of Director Compensation
The following is a summary of the currently effective compensation of the Directors of Five Star Quality Care, Inc. (the Company) for services as Directors, which is subject to modification at any time by the Board of Directors.
· Each Independent Director receives an annual fee of $40,000, plus a fee of $1,000 for each meeting attended. Up to two $1,000 fees are payable if more than one board and board committee meetings are held on the same date.
· The chairpersons of our quality of care committee, audit committee, compensation committee and nominating and governance committee receive an additional annual fee of $17,500, $17,500, $7,500 and $7,500, respectively.
· Each Director receives a grant of 10,000 shares of the Companys common stock on the date of the first board meeting following each annual meeting of stockholders (or, for Directors who are first elected or appointed at other times, on the day of the first board meeting attended).
· The Company generally reimburses all Directors for travel expenses incurred in connection with their duties as Directors and for out of pocket costs incurred from their attending certain continuing education programs.
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