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
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Date of Report (Date of Earliest Event Reported) December 12, 1999
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PRISM FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 0-19058 36-4279417
(STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER
OF INCORPORATION) IDENTIFICATION NO.)
440 North Orleans, Chicago, Illinois 60610
(Address of Principal Executive Offices) (Zip Code)
(Registrant's Telephone Number, Including Area Code) (312) 494-0020
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ITEM 5. OTHER EVENTS
Bruce C. Abrams, chairman and chief executive officer of
Prism Financial Corporation (the "Company"), died on December 12, 1999, in
Chicago. The Company's board of directors appointed current board member
Richard L. Wellek as chairman and Mark A. Filler, the current President of
the Company, as Chief Executive Officer of the Company to succeed Mr.
Abrams. A copy of the Company's press release with respect to these matters
is attached hereto as Exhibit 99.1 and is incorporated herein by reference
in its entirety.
ITEM 7. FINANCIAL STATEMENT AND EXHIBITS
(c) Exhibits
99.1 Press Release issued by Prism Financial Corporation on
December 13, 1999.
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.
Date: December 16, 1999 PRISM FINANCIAL CORPORATION
By: /s/ David A. Fisher
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Name: David A. Fisher
Title: Senior Vice President,
Chief Financial Officer
and Secretary
EXHIBIT INDEX
Exhibit
Number Description
- -------- -----------
99.1 Press Release issued by Prism Financial Corporation on
December 13, 1999.
Exhibit 99.1
For immediate release
PRISM MOURNS THE DEATH OF CO-FOUNDER
BRUCE C. ABRAMS
Board Elects New Chairman and CEO
CHICAGO, Ill. -- December 13, 1999 -- Prism Financial Corporation (NASDAQ:
PRFN) today announced that its co-founder, chairman and chief executive
officer, Bruce C. Abrams, died yesterday in Chicago.
Prism was co-founded in 1992 by Abrams and Terry Markus, current president
of Prism Illinois. Prism is now one of the nation's largest mortgage
companies with more than 2,300 employees in 24 states.
At a meeting in Chicago Sunday night, Prism's board of directors elected
current board member Richard L. Wellek as chairman, and Mark A. Filler as
CEO of Prism. Mr. Filler has been a senior executive officer of Prism for
five and a half years and has been president since January 1999.
"We are extremely saddened by the loss of our dear friend and my partner,"
said Filler. "We offer our deepest condolences to his family. I will miss
Bruce's leadership and vision."
Wellek, former chairman and CEO of Varlen Corporation, said "these are sad
times for all of us at Prism. Thankfully, we have an experienced management
team in place to continue to run the company."
Prism Financial Corporation is a leading national retail mortgage banking
company that originated more than $8 billion in loans in 1998 on pro forma
basis, making it the 11th largest retail originator in the country. Based
in Chicago, Prism is nationally licensed, with more than 1,000 loan
officers in 24 states. Prism operates through more than 150 retail branches
as well as through partnerships with major Internet companies. Prism
Financial's common stock trades on NASDAQ under the ticker symbol PRFN.
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