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): May 21, 2010
MYR GROUP INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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1-08325 |
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36-3158643 |
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(State or Other
Jurisdiction of |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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Three Continental Towers 1701 Golf Road, Suite 3-1012 Rolling Meadows, IL |
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60008-4210 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s telephone number, including area code (847) 290-1891
None
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02 |
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 21, 2010, the Board of Directors (the “Board”) of MYR Group Inc. (the “Company”) appointed Maurice E. Moore as a director, effective immediately. Mr. Moore will serve on the Board’s Audit and Nominating and Corporate Governance Committees.
Mr. Moore was not selected as a director pursuant to any arrangement or understanding between him and any other person. There are no, nor have there been any, related persons transactions between the Company and Mr. Moore reportable under Item 404(a) of Regulation S-K.
Mr. Moore will receive the standard compensation received by the Company’s non-employee directors as disclosed in the Company’s 2010 Proxy Statement filed with the Securities and Exchange Commission on March 23, 2010.
On May 24, 2010, the Company issued a press release announcing Mr. Moore’s appointment as director. The press release is filed as Exhibit 99.1 to this report and is incorporated herein by reference.
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Item 9.01 |
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Financial Statements and Exhibits. |
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(d) |
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The following exhibit is being filed with the current report on Form 8-K. |
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99.1 Press Release dated May 24, 2010 |
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.
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MYR GROUP INC. |
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Dated: May 24, 2010 |
By: |
/s/ GERALD B. ENGEN, JR. |
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Name: |
Gerald B. Engen, Jr. |
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Title: |
Senior Vice President, |
Exhibit 99.1
MYR Group Inc. Announces Appointment of New Board Member
Rolling Meadows, Ill., May 24, 2010 — MYR Group Inc. (“MYR”) (NASDAQ: MYRG), a leading specialty contractor serving the electrical infrastructure market in the United States, announced today the appointment of Maurice E. Moore as the ninth member of the Company’s board of directors. The board determined that Mr. Moore is an independent director and he will serve as a member of the Company’s audit, and nominating and corporate governance committees.
“We are excited to have Maurice as a new member of our board of directors. His knowledge and expertise of the financial industry, and experience working with electric utilities, cooperatives, and companies engaged in renewable energy will be a great benefit to MYR. We welcome Maurice and are pleased that he has agreed to become a member of our board,” said Bill Koertner, MYR’s chairman of the board, president and CEO.
Since 2009, Mr. Moore has been managing director and sole proprietor of Primus Financial Group, LLC, a company that provides leasing and project finance advisory services to companies engaged in the renewable energy business. With more than 24 years of professional finance experience, Mr. Moore has an extensive background in originating, negotiating, syndicating and financing large capital projects in various segments, including the electric utility industry. Prior to his position at Primus Financial Group, Mr. Moore served in senior leadership roles with Chase Equipment Leasing, Inc. from 2006 to 2009 and JP Morgan Capital Corporation, and its predecessor companies, from 1986 to 2005.
Mr. Moore previously served on the boards of directors for West Suburban Medical Center and Community Chest of Oak Park & River Forest, Ill., and was formerly Finance Advisory Committee Chairman for Oak Park & River Forest High School in Ill. He earned a Bachelor’s of Science degree in Civil Engineering from Brown University and a Master’s of Business Administration from Harvard Graduate School of Business.
About MYR Group Inc.
MYR is a holding company of specialty construction service providers. Through subsidiaries dating back to 1891, MYR is one of the largest national contractors servicing the transmission and distribution sector of the United States electric utility industry. Transmission and distribution customers include electric utilities, cooperatives and municipalities. MYR also provides commercial and industrial electrical contracting services to facility owners and general contractors in the Western United States. Its comprehensive services include turnkey construction and maintenance services for the nation’s electrical infrastructure.
MYR Group Inc. Contact:
Marco A. Martinez, Chief Financial Officer, 847-290-1891, investorinfo@myrgroup.com
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