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) March 18, 1999
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MERITAGE CORPORATION
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(Exact name of registrant as specified in its charter)
Maryland 1-9977 86-0611231
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
6613 North Scottsdale Road, Suite 200, Scottsdale, Arizona 85250
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (602) 998-8700
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NONE
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(Former name or former address, if changed since last report.)
ITEMS 1-4. Not Applicable.
ITEM 5. Other Events.
William Cleverly has resigned as Managing Director of Meritage
Corporation effective as of March 18, 1999. As a result of Mr. Cleverly's
resignation, the corporate leadership responsibilities will be divided equally
between John R. Landon and Steven J. Hilton, also Managing Directors. Mr.
Cleverly will continue to serve on the Company's Board of Directors and as a
consultant to the Company. In connection with Mr. Cleverly's resignation, the
Company agreed to buy out his employment agreement dated December 31, 1996 for
the sum of $656,375 which will be expensed in the first quarter of 1999. Mr.
Cleverly's resignation is more fully described in the press release included
herein as Exhibit 99.1.
ITEM 6. Not Applicable.
ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not Applicable
(b) Not Applicable
(c) Exhibits
Exhibit No.
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Separation and Consulting Agreement between
the Company and William Cleverly dated March
18, 1999. 10.1
Press Release dated March 18, 1999. 99.1
ITEM 8. Not Applicable
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.
MERITAGE CORPORATION
Date: March 23, 1999. By:/s/ Larry W. Seay
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Larry W. Seay
Vice President of Finance and
Chief Financial Officer