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HOUSTON WIRE & CABLE CO FILES (8-K) Disclosing Change in Directors or Principal Officers(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers On November 4, 2014, upon the recommendation of the Nominating and Corporate Governance Committee (the "Governance Committee") of the Board of Directors (the "Board") of Houston Wire & Cable Company (the "Company"), the Board voted to increase the number of directors from seven to eight. To fill the vacancy created by this increase, on November 4, 2014, upon the further recommendation of the Governance Committee, the Board elected Gary Yetman as a new director to serve until the Company's 2015 annual meeting of stockholders. Mr. Yetman will be a member of the Compensation and Nominating and Corporate Governance Committees of the Board. In accordance with the Company's compensation policy for non-employee directors, on November 4, 2014, the Company granted to Mr. Yetman 1,817 restricted stock units (the "Restricted Stock Units") under the Company's 2006 Stock Plan having a fair market value of $25,000, based on the price of the Company's common stock as reported on The Nasdaq Global Market on the date of grant. The Restricted Stock Units will vest on the date of the Company's 2015 annual meeting of stockholders and will be settled in shares of common stock at such time as Mr. Yetman's service on the Board terminates for any reason. The Company and Mr. Yetman also will enter into the Company's standard Indemnification Agreement for directors. Mr. Yetman, age 59, served as the Chief Executive Officer and President of Coleman Cable, Inc. from 1999 until his retirement following the sale of Coleman Cable earlier this year. Prior to that, Mr. Yetman held various senior management positions with Coleman Cable's predecessor and within the electrical industry. Item 7.01. Regulation FD Disclosure On November 4, 2014, the Board of Directors approved a dividend on the Company's common stock in the amount of $0.12 per share, payable on November 28, 2014 to stockholders of record at the close of business on November 16, 2014. Item 9.01. Financial Statements and Exhibits (d) Exhibits 99.1 Press Release of Houston Wire & Cable Company dated November 05, 2014 -------------------------------------------------------------------------------- |