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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): July 24, 2000
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NEXTCARD, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
0-26019 68-0384-606
(Commission File Number) (I.R.S. Employer Identification No.)
595 Market Street, Suite 1800, San Francisco, California 94105
(Address of Principal Executive Offices) (Zip Code)
(415) 836-9700
(Registrant's Telephone Number, Including Area Code)
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ITEM 5. OTHER EVENTS
NextCard, Inc. announced that its Board of Directors plans to name John Hashman,
currently President and Chief Financial Officer, as its Chief Executive Officer
at its next meeting on August 10, 2000. Mr. Hashman has served as NextCard's
Chief Financial Officer since joining the company in September 1997, and as
President and Chief Financial Officer since March 2000. Jeremy Lent will
continue as Chairman of the Board of Directors and will assume the new role of
Chief Strategy Officer. Additionally, the Company announced it is bringing in
its anticipated break-even date from 2002 to late 2001.
Mr. Lent stated that he will remain highly involved in the strategic direction
of NextCard in the role of both Chairman and Chief Strategy Officer, and expects
to work closely with Mr. Hashman. Mr. Lent stated further that his decision to
step down from the Chief Executive Officer role was driven by his wife's ongoing
medical condition, which will require a greater time commitment than in the
past.
To replace Mr. Hashman in the role of Chief Financial Officer, the Company
announced that Bruce Rigione, currently Senior Vice President - International
Business Development, will be named Chief Financial Officer, effective August
10, 2000. Mr. Rigione is also a member of NextCard's Board of Directors.
NextCard also announced that, due to better than anticipated loan growth,
strongly increasing yield and controlled expenses, the Company has brought in
its expected break-even date to late 2001, a full year earlier than the
break-even date anticipated when NextCard went public last year. The Company
will be sharing further details at its quarterly earnings conference call later
this week.
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 thereunto duly authorized.
NEXTCARD, INC.
(Registrant)
Date: July 24, 2000 /s/ Robert Linderman
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Robert Linderman
General Counsel & Secretary
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