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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): January 10, 2000
Commission File No. 0-16530
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Financial Performance Corporation
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(Exact name of registrant as specified in its charter)
New York 13-3236325
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
335 Madison Avenue, New York, NY 10017
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(Address of principal executive offices)
Registrant's telephone number, including area code: (212) 557-0401
Not Applicable
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
The Company hereby incorporates by reference herein the Company's
press release dated January 12, 2000 (such press release is filed as Exhibit
99.1 hereto).
Item 7. Financial Statements and Exhibits.
(c) Exhibits. The following document is being filed herewith by the
Company as an exhibit to this Current Report on Form 8-K:
99.1 Press release of the Company dated January 12, 2000.
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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.
Date: January 13, 2000
FINANCIAL PERFORMANCE CORPORATION
By: /s/ Jeffrey Silverman
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Chairman of the Board and
Chief Executive Officer
(Principal Executive Officer)
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Exhibit No. Exhibits Page No.
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99.1 Press release of the Company dated January 12, 2000.
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EXHIBIT 99.1
JEFFREY S. SILVERMAN NAMED CHAIRMAN AND CEO, RONALD NASH PRESIDENT OF FINANCIAL
PERFORMANCE CORPORATION
NEW YORK, Jan. 12 /PRNewswire/ -- Financial Performance Corporation (OTC
Bulletin Board: FPCX - news) announced today that Jeffrey S. Silverman has been
named Chairman and Chief Executive Officer of the company and that Ronald Nash
has been named its President. William F. Finley has been named President of FPC
Information Corp., a subsidiary of the company, and will continue to serve as
the company's Chief Financial Officer.
The company said that Mr. Silverman and Mr. Nash will work full time in
these positions. In lieu of a salary, they have each accepted options to
purchase 1 million shares of the company's common stock at $14.50 per share,
which was the closing price on January 10, 2000.
Mr. Silverman, the former Chairman and CEO of PLY GEM Industries, which
was listed on the New York Stock Exchange, brings to Financial Performance Corp.
a successful history of originating and executing business strategies for a
Fortune 500 company. Mr. Nash, the former President of Nash Weiss & Co., a
brokerage firm he founded that specialized in market making for Nasdaq companies
and was acquired by Quick & Reilly in 1998, brings to the enterprise a knowledge
of venture capital, investment banking and strategic planning.
Mr. Silverman was also the co-Founder and Chairman of the investment firm
LTS Capital Partners LLC. During Mr. Silverman's tenure at PLY GEM, the company
acquired 14 companies, its annual revenues approached $800 million and its
market capitalization increased from $7.5 million to over $500 million. In 1997,
he oversaw the sale of the company to Nortek, Inc. Over the course of a 30-year
career in business his achievements have included being the youngest member of
the New York Stock Exchange and founding, growing and selling a successful cable
television company. He currently serves on several boards of directors including
those of the Boyar Value Fund Inc., The New York Administrative Committee of
Fleet Bank Boston, and the Triarc Companies, Inc.
Ronald Nash was President and CEO of Network Consulting, Inc., a
financial consulting company. Mr. Nash was also a founding partner and board
member of Steinberg & Lyman Investment Bankers. Mr. Nash is also a member of
Harvard University's Dean's Committee for International Development at the John
F. Kennedy School of Government.
In November, Mr. Silverman and Mr. Nash purchased an aggregate of 1
million shares of FPC's common stock and received options to purchase an
additional 2.5 million shares from Robert S. Trump, a principal shareholder in
FPC. In addition, the Board of Directors of the company granted each of them
five-year options to purchase 1 million shares of common stock of the company.
Financial Performance Corporation, through its subsidiary Michaelson
Kelbick Partners, Inc., specializes in financial services marketing and
communications. The company's customers have included First Union Corporation,
Chase Manhattan Bank, BankBoston, The Dime Savings Bank of New York, Fleet
Financial Group, The CIT Group and PNC Bank.
