Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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
12,
2008
Impac
Mortgage Holdings,
Inc.
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(Exact
Name of Registrant as
Specified in Its Charter)
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Maryland
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(State
or Other Jurisdiction of
Incorporation)
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1-14100
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33-0675505
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(Commission
File Number)
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(IRS
Employer Identification No.)
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19500
Jamboree Road, Irvine,
California
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92612
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(Address
of Principal Executive
Offices)
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(Zip
Code)
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(949)
475-3600
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(Registrant’s
Telephone Number, Including Area
Code)
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(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))
Item
5.02 |
Departure of Directors or Certain Officers;
Election of Directors;
Appointment
of Certain Officers; Compensatory Arrangements of
Certain Officers.
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On
March
12, 2008, Impac Mortgage Holdings, Inc. (the “Company”) received and accepted
the resignations of Andrew McCormick and Richard Johnson. Andrew
McCormick, Executive Vice President and Chief Investment Officer of the Company
will be leaving the Company as of March 31, 2008. Mr. McCormick will be
joining the staff of a major investment management firm. Richard Johnson,
Executive Vice President and Chief Operating Officer is resigning from his
position as an officer or director of the Company and any of
its affiliated entities, as applicable, effective as of March 12,
2008. Mr. Johnson will continue to provide consulting services to
the Company and will also continue to be responsible for special projects as
designated by the Company. As a result of the changes to the
Company's business plan and from its consolidation efforts, the Company does
not
anticipate filling either of these positions at this time.
The
Company is in the final renegotiations to settle a significant portion of its
repurchase liabilities and refinance its remaining warehouse borrowings
resulting in an improvement of the Company’s financial condition. The Company
anticipates the outcome of these negotiations will result in additional
disclosures in the 2007 financial statements. As a result, the
Company will be unable to file its Form 10-K for the year ended December 31,
2007 by its due date of March 17, 2008. The Company will be filing
for an extension of the filing date, however, even though the Company will
do everything it can to file the Form 10-K by the extension date, it is
unlikely the Company will be able to do so.
The
Company does not anticipate having an earnings call until after the Form 10-K
is
filed.
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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IMPAC
MORTGAGE
HOLDINGS, INC. |
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Date: March
14, 2008 |
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By: |
/s/ Ron
Morrison
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Name:
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Ron Morrison |
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Title:
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Executive Vice President and General
Counsel
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