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) April 30, 2003 UNITED TRUST GROUP, INC. ------------------------- (Exact Name of Registrant as specified in its charter) ILLINOIS 0-16867 37-1172848 - ------------------------ ------------- ------------------ (State or other Juris- (Commission (I.R.S. Employer diction of incorporation File Number) identification No.) 5250 SOUTH SIXTH STREET P.O. BOX 5147 SPRINGFIELD, IL 62705 --------------------------------------- (Address of principal executive offices, including zip code) Registrant's telephone number, including area code (217)-241-6300 Not Applicable ---------------- (Former name or former address, if changed since last report) ITEM 5. Other Events and Regulation FD Disclosure On April 30, 1998, United Trust Group, Inc. ("UTG")(formerly United Trust, Inc.) entered into an "Acquisition Agreement" with First Southern Funding, LLC ("FSF")(formerly First Southern Funding, Inc.) whereby FSF and affiliates acquired shares of common stock of UTG from UTG and certain UTG shareholders. This agreement was completed and closed on November 20, 1998. Included in the acquisition agreement was a provision relating to an earnings covenant whereby UTG warranted UTG and its subsidiaries and affiliates would have future earnings of at least $30,000,000 over a five-year period beginning January 1, 1998. Such earnings are computed based on statutory results with additional adjustments to be made at the end of the five-year period as outlined in the agreement. Any shortfall in the earnings warranty are to be paid by UTG in the form of UTG common stock valued at $15.00 per share up to a maximum number of shares of 500,000. The final accounting and share issuance, if any, are to be completed by April 30, 2003. UTG has completed the final accounting as required by the agreement and determined it has fallen significantly short of the warranty. The final accounting resulted in a calculated shares to be issued of 811,621. As this amount exceeds the maximum number of shares as stated in the agreement. Therefore, on April 30, 2003, UTG issued to FSF and its assigns 500,000 shares of common stock of UTG. Such shares were issued from the authorized but unissued shares of UTG common stock. Following the issuance of the above shares, UTG has outstanding 4,005,085 shares of common stock as of April 30, 2003. Mr. Jesse T. Correll, directly and indirectly through controlled entities including FSF owns or controls 65.4% of the outstanding common stock of UTG. 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. UNITED TRUST GROUP, INC. (Registrant) By: /s/ Randall L. Attkisson Randall L. Attkisson President , Chief Operating Officer and Director By: /s/ Theodore C. Miller Theodore C. Miller Senior Vice President and Chief Financial Officer Date: May 1, 2003
- UTGN Dashboard
- Financials
- Filings
- Insider
- Institutional
-
8-K Filing
Utg (UTGN) 8-KOther events
Filed: 1 May 03, 12:00am