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<title>hchc-20211021</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:AmendmentFlag" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV80L2ZyYWc6ZDc5Y2Y1MzQ4N2RjNGI1YmIwNzhlYzMzZjE4ZWYwMmEvdGFibGU6YTYyYWIwMmM2OTk3NGY0Yzg1NjJlYmFjYmQ3YjY5MTUvdGFibGVyYW5nZTphNjJhYjAyYzY5OTc0ZjRjODU2MmViYWNiZDdiNjkxNV8zLTEtMS0xLTMxODY2_f913ccce-f126-4884-8788-f708c0e54421">false</ix:nonNumeric><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityCentralIndexKey" 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style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="-sec-extract:summary;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:120%">UNITED STATES</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">WASHINGTON, D.C. 20549</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:120%">FORM <ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:DocumentType" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGV4dHJlZ2lvbjo0ZWVhOTEwMjE3Yzc0N2U1ODk0NWQ3M2I2OWIzYzY5Y18yMDI2_56885792-f393-46ca-a08a-7a693dfdab1d">8-K</ix:nonNumeric></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:15pt;font-weight:700;line-height:120%">CURRENT REPORT</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Date of Report (Date of earliest event reported):  <ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" format="ixt:date-monthname-day-year-en" name="dei:DocumentPeriodEndDate" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGV4dHJlZ2lvbjo0ZWVhOTEwMjE3Yzc0N2U1ODk0NWQ3M2I2OWIzYzY5Y18yMDI4_435f6999-7121-4b3b-a8b3-2f09e1e134af">October 21, 2021</ix:nonNumeric></span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:18pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityRegistrantName" 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charter.)</span></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV8yLTAtMS0xLTMxODY2_c86b28f2-a983-47c4-8bdd-4aaaf97692c1">Delaware</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityFileNumber" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV8yLTEtMS0xLTMxODY2_700511ea-497a-425c-a981-f223cb90f44c">001-35210</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityTaxIdentificationNumber" 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Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(IRS Employer Identification No.)</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityAddressAddressLine1" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV81LTEtMS0xLTMxODY2L3RleHRyZWdpb246M2Q0YTZkYWI5ZWNmNGQzMzljM2MxYTM2NWMzMmY0YTVfNA_0c1b9fa4-c78e-4dd6-aead-c37bae0d1662">295 Madison Avenue</ix:nonNumeric>, <ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityAddressAddressLine2" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV81LTEtMS0xLTMxODY2L3RleHRyZWdpb246M2Q0YTZkYWI5ZWNmNGQzMzljM2MxYTM2NWMzMmY0YTVfOA_88d6c62a-408c-48c9-8ad4-852374dc5759">12th Floor</ix:nonNumeric></span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityAddressCityOrTown" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV82LTEtMS0xLTMxODY2L3RleHRyZWdpb246YWVjNmM0ZDM2MWNhNDA1ZjliZDI1MTBmYjA0NWQwNTZfNA_ea5b5156-b98d-46ad-80e4-793ecb7df43f">New York</ix:nonNumeric>, <ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityAddressStateOrProvince" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV82LTEtMS0xLTMxODY2L3RleHRyZWdpb246YWVjNmM0ZDM2MWNhNDA1ZjliZDI1MTBmYjA0NWQwNTZfOA_9eba3d63-fc8b-458d-a046-e4fb227bd9a5">NY</ix:nonNumeric> <ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:EntityAddressPostalZipCode" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV82LTEtMS0xLTMxODY2L3RleHRyZWdpb246YWVjNmM0ZDM2MWNhNDA1ZjliZDI1MTBmYjA0NWQwNTZfMTE_02883bea-fba8-45f1-9f54-22f229896ed1">10017</ix:nonNumeric></span></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Address of principal executive offices)</span></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(<ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:CityAreaCode" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV85LTAtMS0xLTMxODY2L3RleHRyZWdpb246ZGNkZjY3YWZiZGI3NDQ3ODg0NDQzMzZhMTUxNDEzZmRfNQ_f4c9cedb-8a2e-4938-9ef0-49759b327f33">212</ix:nonNumeric>) <ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:LocalPhoneNumber" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6MjgzMjgzNmFmNzM1NDg2NzlmN2NkYzhiOGJhZGVmMjEvdGFibGVyYW5nZToyODMyODM2YWY3MzU0ODY3OWY3Y2RjOGI4YmFkZWYyMV85LTAtMS0xLTMxODY2L3RleHRyZWdpb246ZGNkZjY3YWZiZGI3NDQ3ODg0NDQzMzZhMTUxNDEzZmRfOQ_77ee90ba-8f14-4652-88d4-a580b0011c82">235-2690</ix:nonNumeric></span></div></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Registrant&#8217;s telephone number, including area code)</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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:</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.245%"><tr><td style="width:1.0%"></td><td style="width:3.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:94.287%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" format="ixt:fixed-false" name="dei:WrittenCommunications" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6ZWYyYjkzYTI3YzQ0NDQ5ZWEyNTE1ZDFiMGYwZTZhZDIvdGFibGVyYW5nZTplZjJiOTNhMjdjNDQ0NDllYTI1MTVkMWIwZjBlNmFkMl8wLTAtMS0xLTMxODY2_99d3817e-5fe7-40b0-9133-87cee56418a3">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" format="ixt:fixed-false" name="dei:SolicitingMaterial" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6ZWYyYjkzYTI3YzQ0NDQ5ZWEyNTE1ZDFiMGYwZTZhZDIvdGFibGVyYW5nZTplZjJiOTNhMjdjNDQ0NDllYTI1MTVkMWIwZjBlNmFkMl8xLTAtMS0xLTMxODY2_bd8ea950-e1e3-4682-b9cd-3560a163463f">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" format="ixt:fixed-false" name="dei:PreCommencementTenderOffer" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6ZWYyYjkzYTI3YzQ0NDQ5ZWEyNTE1ZDFiMGYwZTZhZDIvdGFibGVyYW5nZTplZjJiOTNhMjdjNDQ0NDllYTI1MTVkMWIwZjBlNmFkMl8yLTAtMS0xLTMxODY2_fbcb5bf5-7a7e-4fbf-a460-e2d2eeecdff2">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:700;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" format="ixt:fixed-false" name="dei:PreCommencementIssuerTenderOffer" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6ZWYyYjkzYTI3YzQ0NDQ5ZWEyNTE1ZDFiMGYwZTZhZDIvdGFibGVyYW5nZTplZjJiOTNhMjdjNDQ0NDllYTI1MTVkMWIwZjBlNmFkMl8zLTAtMS0xLTMxODY2_6cc5dea2-91ef-4dd3-956e-a2cec79388b8">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Securities registered pursuant to Section&#160;12(b) of the Act:</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.245%"><tr><td style="width:1.0%"></td><td style="width:41.757%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:41.758%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title of each class</span></td><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Trading Symbol</span></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name of each exchange on which registered</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:Security12bTitle" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6NjZlNzVlMjAzM2VlNDU2MzgwNTQ3ZjY0YmNmNTdkZjYvdGFibGVyYW5nZTo2NmU3NWUyMDMzZWU0NTYzODA1NDdmNjRiY2Y1N2RmNl8xLTAtMS0xLTMxODY2_432c3476-9839-44bb-b7dc-02efe5e0b3a3">Common Stock, par value $0.001 per share</ix:nonNumeric></span></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" name="dei:TradingSymbol" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6NjZlNzVlMjAzM2VlNDU2MzgwNTQ3ZjY0YmNmNTdkZjYvdGFibGVyYW5nZTo2NmU3NWUyMDMzZWU0NTYzODA1NDdmNjRiY2Y1N2RmNl8xLTEtMS0xLTMxODY2_c2d35c8c-dedd-4208-9b6c-a758833ccfeb">VATE</ix:nonNumeric></span></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6NjZlNzVlMjAzM2VlNDU2MzgwNTQ3ZjY0YmNmNTdkZjYvdGFibGVyYW5nZTo2NmU3NWUyMDMzZWU0NTYzODA1NDdmNjRiY2Y1N2RmNl8xLTItMS0xLTMxODY2_9e4235ac-c627-451d-be3e-2b4aca206098">New York Stock Exchange</ix:nonNumeric></span></td></tr></table></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.245%"><tr><td style="width:1.0%"></td><td style="width:22.560%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.513%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:70.627%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Emerging growth company</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="i47bc7e225f494e4d871c622e7283001b_D20211021-20211021" format="ixt:fixed-false" name="dei:EntityEmergingGrowthCompany" id="id3VybDovL2RvY3MudjEvZG9jOjE4MjdkYzE1MTRmNjRlZmU4MjZiMjA2OTU0ZWQ5MWQ1L3NlYzoxODI3ZGMxNTE0ZjY0ZWZlODI2YjIwNjk1NGVkOTFkNV8xL2ZyYWc6NGVlYTkxMDIxN2M3NDdlNTg5NDVkNzNiNjliM2M2OWMvdGFibGU6YTE2ZTYxOWRlZjM4NGIzZTg4ZTE3NjA3ODRhMTcwZTEvdGFibGVyYW5nZTphMTZlNjE5ZGVmMzg0YjNlODhlMTc2MDc4NGExNzBlMV8wLTEtMS0xLTMxODY2_1689cbe1-6e10-42c3-84e3-dd61e1da46c6">&#9744;</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.245%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  </span><span style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:100%">o</span></div></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:112%">Item 1.01.  Entry into a Material Definitive Agreement.</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">On October 21, 2021, HC2 Broadcasting Holdings Inc. (&#8220;HC2 Broadcasting&#8221;) entered into the Fifth Omnibus Amendment to Secured Notes, Consent and Second Amendment to Asset Sale Under Secured Notes and Intercreditor Agreement (the &#8220;Amendment&#8221;), which, among other things, extended $52.2 million of its Senior Secured Notes, due October 21, 2021, through November 30, 2022. Concurrently therewith, HC2 Broadcasting completed the last of a series of repurchases of all the outstanding secured notes, inclusive of accrued interest, of DTV America Corporation (&#8220;DTV&#8221;) for a total consideration of $6.2 million using a combination of cash on hand and proceeds from the sales on non-core assets. On October 26, 2021, HC2 Broadcasting completed the repurchase of all of the outstanding convertible promissory notes of DTV for a total consideration of $0.7 million using proceeds from the sales of non-core assets. Subsequent to these acquisitions, all of DTV&#8217;s debt in the aggregate amount of $9.2 million is held by HC2 Broadcasting.</span></div><div><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The foregoing description of terms of the Amendment is a summary of certain of its terms only and is qualified in its entirety by the full text of the Amendment, filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.</span></div><div style="text-indent:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:112%">Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</span></div><div><span><br/></span></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">On October 21, 2021, the Compensation Committee of the Board of Directors of INNOVATE Corp. (the &#8220;Company&#8221;) approved the Executive Severance Guidelines for its current executive officers, Wayne Barr, Jr., our President and Chief Executive Officer; Michael J. Sena, our Chief Financial Officer; Joseph A. Ferraro, our Chief Legal Officer &amp; Corporate Secretary; and Suzi Raftery Herbst, our Chief Administrative Officer.  The Executive Severance Guidelines supersede the payments and benefits provided to these executive officers under the Company&#8217;s Severance Guidelines as adopted by the Compensation Committee on May 12, 2014.</span></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Executive Severance Guidelines provide that upon (i) a termination of employment of the executive officer by the Company other than for &#8220;cause&#8221; or (ii) a resignation of employment by the executive officer with &#8220;good reason&#8221; (each as defined in the Second Amended and Restated 2014 Omnibus Equity Award Plan), the executive officer will be entitled to the following, subject to the execution and non-revocation of a release of claims:</span></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">An amount equal to one year of annual base salary;</span></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">An amount equal to a pro-rated annual bonus, based on the amount the executive officer received in the prior year;</span></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">12 months of Consolidated Omnibus Budget Reconciliation Act health benefit premiums, if eligible and elected;</span></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">12 months of outplacement services; and</span></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Full vesting of any outstanding unvested equity awards held by the executive officer and the exercise period of all applicable outstanding equity awards held by the executive officer will be extended to 12 months following the date of employment termination (or the expiration date, if earlier).</span></div><div style="margin-bottom:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The foregoing description of the terms of the Executive Severance Guidelines is a summary of certain of its terms only and is qualified in its entirety by the full text of the Executive Severance Guidelines filed as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.</span></div><div style="margin-bottom:12pt;text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:112%">Item 9.01.  Financial Statements and Exhibits.</span></div><div style="margin-bottom:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(d)&#160;&#160;&#160;&#160;Exhibits</span></div><div style="margin-bottom:12pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:9.280%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:88.520%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Exhibit No.</span></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">Description</span></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">10.1</span></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline" href="a202110278-kexh101.htm">Fifth Omnibus Amendment to Secured Notes, Consent and Second Amendment to Asset Sale Under Secured Notes and Intercreditor Agreement</a></span></div></td></tr><tr><td colspan="3" style="border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">10.2</span></td><td colspan="3" style="border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline" href="a202110278-kexh102.htm">Executive Severance Guidelines</a></span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">104</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Cover Page Interactive Data File (embedded within the Inline XBRL document).</span></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:42.75pt;width:100%"><div><span><br/></span></div></div><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date: October 27, 2021</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.228%"><tr><td style="width:1.0%"></td><td style="width:47.137%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.592%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.598%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.598%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.598%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.877%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">INNOVATE Corp.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> (Registrant)</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By:</span></td><td colspan="12" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">/s/ Michael J. Sena</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Name: Michael J. Sena</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title: Chief Financial Officer</span></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div></body></html>
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hchc-20211021
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):
October 21, 2021
INNOVATE CORP.
(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.)
295 Madison Avenue
,
12th Floor
New York
,
NY
10017
(Address of principal executive offices)
(
212
)
235-2690
(Registrant's telephone number, including area code)
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))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, par value $0.001 per share
VATE
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o
Item 1.01.  Entry into a Material Definitive Agreement.
On October 21, 2021, HC2 Broadcasting Holdings Inc. ("HC2 Broadcasting") entered into the Fifth Omnibus Amendment to Secured Notes, Consent and Second Amendment to Asset Sale Under Secured Notes and Intercreditor Agreement (the "Amendment"), which, among other things, extended $52.2 million of its Senior Secured Notes, due October 21, 2021, through November 30, 2022. Concurrently therewith, HC2 Broadcasting completed the last of a series of repurchases of all the outstanding secured notes, inclusive of accrued interest, of DTV America Corporation ("DTV") for a total consideration of $6.2 million using a combination of cash on hand and proceeds from the sales on non-core assets. On October 26, 2021, HC2 Broadcasting completed the repurchase of all of the outstanding convertible promissory notes of DTV for a total consideration of $0.7 million using proceeds from the sales of non-core assets. Subsequent to these acquisitions, all of DTV's debt in the aggregate amount of $9.2 million is held by HC2 Broadcasting.
The foregoing description of terms of the Amendment is a summary of certain of its terms only and is qualified in its entirety by the full text of the Amendment, filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 21, 2021, the Compensation Committee of the Board of Directors of INNOVATE Corp. (the "Company") approved the Executive Severance Guidelines for its current executive officers, Wayne Barr, Jr., our President and Chief Executive Officer; Michael J. Sena, our Chief Financial Officer; Joseph A. Ferraro, our Chief Legal Officer & Corporate Secretary; and Suzi Raftery Herbst, our Chief Administrative Officer.  The Executive Severance Guidelines supersede the payments and benefits provided to these executive officers under the Company's Severance Guidelines as adopted by the Compensation Committee on May 12, 2014.
The Executive Severance Guidelines provide that upon (i) a termination of employment of the executive officer by the Company other than for "cause" or (ii) a resignation of employment by the executive officer with "good reason" (each as defined in the Second Amended and Restated 2014 Omnibus Equity Award Plan), the executive officer will be entitled to the following, subject to the execution and non-revocation of a release of claims:
•
An amount equal to one year of annual base salary;
•
An amount equal to a pro-rated annual bonus, based on the amount the executive officer received in the prior year;
•
12 months of Consolidated Omnibus Budget Reconciliation Act health benefit premiums, if eligible and elected;
•
12 months of outplacement services; and
•
Full vesting of any outstanding unvested equity awards held by the executive officer and the exercise period of all applicable outstanding equity awards held by the executive officer will be extended to 12 months following the date of employment termination (or the expiration date, if earlier).
The foregoing description of the terms of the Executive Severance Guidelines is a summary of certain of its terms only and is qualified in its entirety by the full text of the Executive Severance Guidelines filed as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01.  Financial Statements and Exhibits.
(d)    Exhibits
Exhibit No.
Description
10.1
Fifth Omnibus Amendment to Secured Notes, Consent and Second Amendment to Asset Sale Under Secured Notes and Intercreditor Agreement
10.2
Executive Severance Guidelines
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
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.
Date: October 27, 2021
INNOVATE Corp.
(Registrant)
By:
/s/ Michael J. Sena
Name: Michael J. Sena
Title: Chief Financial Officer