FS Investment Corporation 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by FS Investment Corporation (also referenced as FS KKR Capital Corp in metadata) on October 15, 2008, reporting events that occurred on October 10, 2008. The filing addresses significant changes in the company's executive leadership.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly a current report regarding personnel changes and does not contain financial performance data.
Material Changes
- Departure of CFO: Gerard Scarpati resigned from his position as Chief Financial Officer effective October 10, 2008. The company stated there are no disagreements between Mr. Scarpati and the Board of Directors or management.
- Appointment of CFO: Charles Jacobson was named Chief Financial Officer effective October 10, 2008.
Management Commentary and Arrangements
Mr. Jacobson, age 37, brings experience from the Pine Hill Group, LLC (Managing Director since 2007), ATX Communications, Inc., and audit firms including Ernst & Young and BDO Seidman. He is a Certified Public Accountant. His appointment is structured through an agreement with the Pine Hill Group, LLC, rather than as a direct employee. He will be compensated at an hourly rate based on the amount of work performed. His responsibilities include preparing periodic reports, financial statements, and assisting with internal controls over financial reporting.
Investor Verification Checklist
- Verify the exact nature of the contractual relationship between FS Investment Corporation and the Pine Hill Group, LLC regarding Mr. Jacobson's services.
- Confirm the transition timeline for financial reporting responsibilities between the outgoing and incoming CFO.
- Review subsequent filings for any financial data or operational updates following this leadership change.