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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d)</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): May 27, 2015 (May 20, 2015)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>HC2 HOLDINGS, INC.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TR>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 33%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><B>001-35210</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><B>54-1708481</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction</B>&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Commission</B>&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>File Number)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(IRS. Employer</B>&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>505 Huntmar Park Drive, Suite 325</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Herndon, VA 20170</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive offices)
(Zip Code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registrant&rsquo;s telephone number,
including area code: (703) 865-0700</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not Applicable</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Former name or former address, if changed
since last report.)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 96%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%"><B>Item 5.02</B></TD>
    <TD STYLE="width: 89%"><FONT STYLE="background-color: white"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 20, 2015, HC2 Holdings, Inc. (the
&ldquo;Company&rdquo;) entered into an agreement with Michael Sena, 42, pursuant to which it is anticipated that he will be employed
as the Chief Financial Officer of the Company (the &ldquo;<U>Sena Agreement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Sena has been the Senior Vice President
and Chief Accounting Officer of HRG Group, Inc. since October&nbsp;2014, and had previously served as the Vice President and Chief
Accounting Officer, from November&nbsp;2012 to October&nbsp;2014. Mr.&nbsp;Sena was also the Vice President and Chief Accounting
Officer of Zap.Com, a subsidiary of HRG Group, Inc., and has served as a director of Zap.Com since December&nbsp;2014. From January&nbsp;2009
until November&nbsp;2012, Mr.&nbsp;Sena held various accounting and financial reporting positions with Reader&rsquo;s Digest Association,
Inc., last serving as Vice President and North American Controller. Before joining Reader&rsquo;s Digest Association, Inc., Mr.&nbsp;Sena
served as Director of Reporting and Business Processes for Barr Pharmaceuticals from July&nbsp;2007 until January&nbsp;2009. Prior
to that, Mr.&nbsp;Sena held various positions with PricewaterhouseCoopers, LLP. Mr.&nbsp;Sena is a Certified Public Accountant
and holds a B.S. in Accounting from Syracuse University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">In connection
with Mr. Sena&rsquo;s appointment as the Company&rsquo;s Chief Financial Officer, Mesfin Demise, the current Chief Financial Officer,
Controller and Treasurer will step down from his current position, effective as of Mr. Sena commencing employment with the Company,
and remain with the Company as the Chief Financial Officer of the Company&rsquo;s wholly-owned subsidiary, PTGi International Carrier
Services, Inc. (&ldquo;ICS&rdquo;). <FONT STYLE="background-color: white">In connection therewith, ICS entered into a letter agreement
with Mr.&nbsp;Demise, dated as of </FONT>May 20, 2015<FONT STYLE="background-color: white"> (the &ldquo;<U>Demise Agreement</U>&rdquo;),
pursuant to which Mr.&nbsp;Demise agreed to serve, and the Company agreed to appoint Mr.&nbsp;Demise, as</FONT> the Chief Financial
Officer of ICS<FONT STYLE="background-color: white">. The Demise Agreement provides that Mr. Demise will be employed by ICS &ldquo;at
will&rdquo; and contains the following key terms:</FONT></P>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 68.05pt; background-color: white">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.7in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Base Salary:&nbsp;Mr.&nbsp;Demise will continue receive an annual base
salary of $165,000.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 68.05pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.7in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Discretionary Bonus: Mr. Demise is eligible to receive a discretionary
annual cash bonus.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 50.05pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Severance: If Mr. Demise is terminated &ldquo;without cause&rdquo; (as
defined in the Demise Agreement&rdquo;) then Mr. Demise will receive six (6) months of his then-current annual base salary.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 68.05pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">The Sena Agreement provides that Mr.&nbsp;Sena will be employed by the Company &ldquo;at
will&rdquo; and contains the following key terms:</P>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 68.05pt; background-color: white">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Base Salary:&nbsp;Mr.&nbsp;Sena will receive an annual base salary
of $300,000.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Sign-On Bonus:&nbsp;Mr.&nbsp;Sena will receive a sign-on cash bonus
of $150,000 which shall be payable within the first six months of employment with the Company.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Bonus: Mr. Sena will receive an annual bonus which shall consist of
the following: (i) a minimum cash bonus of $150,000, during his first two years of employment (&ldquo;<U>Minimum Bonus</U>&rdquo;),
and (ii) a target equity bonus of $150,000, which shall be at the discretion of the Compensation Committee of the Company.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Initial Equity Grants: Mr.&nbsp;Sena is entitled to receive restricted
stock pursuant to the HC2 Holdings, Inc. 2014 Omnibus Equity Award Plan (the &ldquo;Plan&rdquo;) in the amount of $957,000 (&ldquo;Initial
Equity Grants&rdquo;), of which 43% of such restricted stock shall vest on November 30, 2015, 40% of such restricted stock shall
vest on November 30, 2016, and the remainder shall vest on November 30, 2017. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; background-color: white">The terms of the Plan are
disclosed in the Company&rsquo;s Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission
on April 30, 2014 (&ldquo;<U>Proxy Statement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Benefits and Perquisites:&nbsp;Mr.&nbsp;Sena is entitled to participate
in the benefit plans and programs of the Company at a level commensurate with his position.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 60.5pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Business Expense Reimbursement: Mr.&nbsp;Sena is entitled to reimbursement
for reasonable and properly documented business expenses.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 42.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Severance: In the event of Mr.&nbsp;Sena&rsquo;s termination of employment
with the Company, he will generally be entitled to payment of accrued but unpaid base salary, the Minimum Bonus, the Initial Equity
Grants, any earned but unpaid discretionary bonus and severance benefits under applicable plans and policies of the Company in
effect at the time of termination;&nbsp;<U>provided</U>,&nbsp;<U>however</U>, that in the event Mr.&nbsp;Sena is terminated for
Cause or terminates his employment without Good Reason (as such terms are defined in the Sena Agreement), Mr.&nbsp;Sena will not
be entitled to any earned but unpaid discretionary bonus, the Minimum Bonus or the Initial Equity Grants.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0pt 0 0pt 68.05pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; text-indent: 0.5in">The Sena Agreement
also contains customary non-competition, non-solicitation, confidentiality and non-disparagement provisions binding on Mr.&nbsp;Sena.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">HC2 Holdings, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">(Registrant)</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date: May 27, 2015</TD>
    <TD>By:</TD>
    <TD STYLE="text-decoration: underline"><U>/s/ Andrea L. Mancuso</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Andrea L. Mancuso</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>General Counsel &amp; Corp. Secretary</TD></TR>
</TABLE>




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{"company-data": {"conformed-name": "HC2 Holdings, Inc.", "cik": "0001006837", "assigned-sic": "4813", "irs-number": "541708481", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-35210", "film-number": "15893054"}, "business-address": {"street1": "505 HUNTMAR PARK DRIVE", "street2": "#325", "city": "HERNDON", "state": "VA", "zip": "20170", "phone": "703-456-4100"}, "mail-address": {"street1": "505 HUNTMAR PARK DRIVE", "street2": "#325", "city": "HERNDON", "state": "VA", "zip": "20170"}, "former-company": [{"former-conformed-name": "PTGi HOLDING, INC.", "date-changed": "20131108"}, {"former-conformed-name": "PRIMUS TELECOMMUNICATIONS GROUP INC", "date-changed": "19960814"}]}
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 27, 2015 (May 20, 2015)
HC2 HOLDINGS, INC.
(Exact name of registrant as specified
in its charter)
Delaware
001-35210
54-1708481
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS. Employer
Identification No.)
505 Huntmar Park Drive, Suite 325
Herndon, VA 20170
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number,
including area code: (703) 865-0700
Not Applicable
(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:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
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
On May 20, 2015, HC2 Holdings, Inc. (the
"Company") entered into an agreement with Michael Sena, 42, pursuant to which it is anticipated that he will be employed
as the Chief Financial Officer of the Company (the "
Sena Agreement
").
Mr. Sena has been the Senior Vice President
and Chief Accounting Officer of HRG Group, Inc. since October 2014, and had previously served as the Vice President and Chief
Accounting Officer, from November 2012 to October 2014. Mr. Sena was also the Vice President and Chief Accounting
Officer of Zap.Com, a subsidiary of HRG Group, Inc., and has served as a director of Zap.Com since December 2014. From January 2009
until November 2012, Mr. Sena held various accounting and financial reporting positions with Reader's Digest Association,
Inc., last serving as Vice President and North American Controller. Before joining Reader's Digest Association, Inc., Mr. Sena
served as Director of Reporting and Business Processes for Barr Pharmaceuticals from July 2007 until January 2009. Prior
to that, Mr. Sena held various positions with PricewaterhouseCoopers, LLP. Mr. Sena is a Certified Public Accountant
and holds a B.S. in Accounting from Syracuse University.
In connection
with Mr. Sena's appointment as the Company's Chief Financial Officer, Mesfin Demise, the current Chief Financial Officer,
Controller and Treasurer will step down from his current position, effective as of Mr. Sena commencing employment with the Company,
and remain with the Company as the Chief Financial Officer of the Company's wholly-owned subsidiary, PTGi International Carrier
Services, Inc. ("ICS").
In connection therewith, ICS entered into a letter agreement
with Mr. Demise, dated as of
May 20, 2015
(the "
Demise Agreement
"),
pursuant to which Mr. Demise agreed to serve, and the Company agreed to appoint Mr. Demise, as
the Chief Financial
Officer of ICS
. The Demise Agreement provides that Mr. Demise will be employed by ICS "at
will" and contains the following key terms:
·
Base Salary: Mr. Demise will continue receive an annual base
salary of $165,000.
·
Discretionary Bonus: Mr. Demise is eligible to receive a discretionary
annual cash bonus.
·
Severance: If Mr. Demise is terminated "without cause" (as
defined in the Demise Agreement") then Mr. Demise will receive six (6) months of his then-current annual base salary.
The Sena Agreement provides that Mr. Sena will be employed by the Company "at
will" and contains the following key terms:
·
Base Salary: Mr. Sena will receive an annual base salary
of $300,000.
·
Sign-On Bonus: Mr. Sena will receive a sign-on cash bonus
of $150,000 which shall be payable within the first six months of employment with the Company.
·
Bonus: Mr. Sena will receive an annual bonus which shall consist of
the following: (i) a minimum cash bonus of $150,000, during his first two years of employment ("
Minimum Bonus
"),
and (ii) a target equity bonus of $150,000, which shall be at the discretion of the Compensation Committee of the Company.
·
Initial Equity Grants: Mr. Sena is entitled to receive restricted
stock pursuant to the HC2 Holdings, Inc. 2014 Omnibus Equity Award Plan (the "Plan") in the amount of $957,000 ("Initial
Equity Grants"), of which 43% of such restricted stock shall vest on November 30, 2015, 40% of such restricted stock shall
vest on November 30, 2016, and the remainder shall vest on November 30, 2017.
The terms of the Plan are
disclosed in the Company's Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission
on April 30, 2014 ("
Proxy Statement
").
·
Benefits and Perquisites: Mr. Sena is entitled to participate
in the benefit plans and programs of the Company at a level commensurate with his position.
·
Business Expense Reimbursement: Mr. Sena is entitled to reimbursement
for reasonable and properly documented business expenses.
·
Severance: In the event of Mr. Sena's termination of employment
with the Company, he will generally be entitled to payment of accrued but unpaid base salary, the Minimum Bonus, the Initial Equity
Grants, any earned but unpaid discretionary bonus and severance benefits under applicable plans and policies of the Company in
effect at the time of termination;
provided
,
however
, that in the event Mr. Sena is terminated for
Cause or terminates his employment without Good Reason (as such terms are defined in the Sena Agreement), Mr. Sena will not
be entitled to any earned but unpaid discretionary bonus, the Minimum Bonus or the Initial Equity Grants.
The Sena Agreement
also contains customary non-competition, non-solicitation, confidentiality and non-disparagement provisions binding on Mr. Sena.
SIGNATURE
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.
HC2 Holdings, Inc.
(Registrant)
Date: May 27, 2015
By:
/s/ Andrea L. Mancuso
Name:
Andrea L. Mancuso
Title:
General Counsel & Corp. Secretary