<SEC-DOCUMENT>0001157523-20-000284.txt : 20200227
<SEC-HEADER>0001157523-20-000284.hdr.sgml : 20200227
<ACCEPTANCE-DATETIME>20200227170551
ACCESSION NUMBER:		0001157523-20-000284
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200227
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20200227
DATE AS OF CHANGE:		20200227

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INVESTORS TITLE CO
		CENTRAL INDEX KEY:			0000720858
		STANDARD INDUSTRIAL CLASSIFICATION:	TITLE INSURANCE [6361]
		IRS NUMBER:				561110199
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11774
		FILM NUMBER:		20663531

	BUSINESS ADDRESS:	
		STREET 1:		121 N COLUMBIA ST
		STREET 2:		P O DRAWER 2687
		CITY:			CHAPEL HILL
		STATE:			NC
		ZIP:			27514
		BUSINESS PHONE:		9199682200

	MAIL ADDRESS:	
		STREET 1:		121 NORTH COLUMBIA STREET
		CITY:			CHAPEL HILL
		STATE:			NC
		ZIP:			27514
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a52181236.htm
<DESCRIPTION>INVESTORS TITLE COMPANY 8-K
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">WASHINGTON, D.C.&#160; 20549</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">__________________________________</div>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">FORM 8-K</div>
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    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: 400;">CURRENT REPORT</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: 400;">Pursuant to Section 13 or 15(d) of the</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: 400;">Securities Exchange Act of 1934</div>
    <div style="text-align: center;"><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">Date of report (Date of earliest event reported):&#160;February 27, 2020</div>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">INVESTORS TITLE COMPANY</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(Exact Name of Registrant as Specified in Charter)</div>
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              <div style="text-align: center;">&#160;<font style="font-family: 'Times New Roman',Times,serif;">North Carolina</font></div>
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              <div style="text-align: center;">&#160;</div>
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              <div style="text-align: center;">&#160;<font style="font-family: 'Times New Roman',Times,serif;">0-11774 <br>
                </font></div>
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              <div style="text-align: center;">&#160;<font style="font-family: 'Times New Roman',Times,serif;"><br>
                </font></div>
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              <div style="text-align: center;">&#160;<font style="font-family: 'Times New Roman',Times,serif;">56-1110199 </font></div>
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              <div style="text-align: center;">&#160;(State or Other Jurisdiction <br>
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              <div style="text-align: center;">&#160;(Commission File Number)</div>
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              <div style="text-align: center;">&#160;(IRS Employer Identification No.)</div>
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              <div style="text-align: center;">&#160;of Incorporation)</div>
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    <div style="text-align: justify;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 216pt">&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160; <br>
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              <div style="text-align: center;">&#160;<font style="font-family: 'Times New Roman',Times,serif;">121 North Columbia Street, Chapel Hill, North Carolina</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 396pt;"> <br>
                </font></div>
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              <div style="text-align: center;">&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif;">27514</font></div>
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              <div style="text-align: center;"><font style="font-family: 'Times New Roman',Times,serif;"></font></div>
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              <div style="text-align: center;">&#160;<font style="font-family: 'Times New Roman',Times,serif;">(Address of Principal Executive Offices)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 324pt;"> <br>
                </font></div>
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              <div style="text-align: center;">&#160;<font style="font-family: 'Times New Roman',Times,serif;">(Zip Code)</font></div>
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              <div style="text-align: center;">&#160;<font style="font-family: 'Times New Roman',Times,serif;"></font></div>
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      &#160;&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;&#160;&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; </div>
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    <div style="text-align: center;">&#160;Registrant's telephone number, including area code:&#160; <u>(919) 968-2200</u></div>
    <div style="text-align: center;"><u> <br>
      </u></div>
    <div style="text-align: center;">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:<u> </u></div>
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            <td style="width: 4%; vertical-align: top;">&#160;&#9744;</td>
            <td style="width: 96%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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              <div style="font-family: 'Times New Roman', Times, serif;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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            <td style="width: 4%; vertical-align: top;">&#160;&#9744;</td>
            <td style="width: 96%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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            <td style="width: 4%; vertical-align: top;">&#160;</td>
            <td style="width: 96%; vertical-align: top;">&#160;</td>
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            <td style="width: 4%; vertical-align: top;">&#160;&#9744;</td>
            <td style="width: 96%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-</div>
            </td>
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    <div style="text-align: center; margin-top: 6pt; margin-bottom: 6pt; color: #000000;">Securities registered pursuant to Section 12(b) of the Act:</div>
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            <div style="text-align: center; color: #000000;">Title of each class</div>
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            <div style="text-align: center; color: #000000;">Trading Symbol(s)</div>
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            <div style="text-align: center; color: #000000;">Name of each exchange on which registered</div>
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            <div style="color: #000000;">Common Stock, no par value</div>
            <div style="color: #000000;">Rights to Purchase Series A Junior Participating Preferred Stock</div>
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            <div style="text-align: center; color: #000000;">ITIC</div>
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            <div style="text-align: center; color: #000000;">The Nasdaq Stock Market LLC</div>
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    <div style="margin-top: 5pt;">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).</div>
    <div style="text-indent: 36pt; margin-top: 5pt; margin-bottom: 5pt;">Emerging growth company&#160; &#9744;</div>
    <div>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.&#160; &#9744;</div>
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    <div><font style="font-weight: bold;">Item 5.02.</font><font style="width: 8pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font><font style="width: 8pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><font style="width: 8pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><font style="width: 8pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#160;</font><font style="font-weight: bold;">Departure of Directors or
        Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div>
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    <div style="background-color: #FFFFFF;">
      <div style="text-indent: 36pt;"><font style="color: #212529;">On February 27, 2020, the Board of Directors (the &#8220;Board&#8221;) of Investors Title Company (the &#8220;Company&#8221;) appointed Tammy F. Coley and Elton C. Parker, Jr. as members of the Board to fill the
          vacancies created by the passing of former Board members </font>R. Horace Johnson on October 7, 2019 and H. Joe King, Jr. on October 28, 2019, respectively. Ms. Coley will serve in the class of directors whose terms expire at the 2020 Annual
        Meeting of Shareholders (the &#8220;2020 Annual Meeting&#8221;) and Mr. Parker will serve in the class of directors whose terms expire at the 2021 Annual Meeting, provided that he will stand for re-election at the 2020 Annual Meeting to complete the remaining
        portion of his term following the meeting. Ms. Coley and Mr. Parker have not been appointed to any committees of the Board.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt; color: #212529;">Ms. Coley currently serves as Chief Transformation Officer at BlackLine, a provider of cloud software that automates and controls the entire financial close process, where she has been employed since
        2017. Prior to BlackLine, Ms.&#160;Coley spent 14 years at Cox Communications where she led the accounting and internal controls governance functions. After retiring as an Audit Partner at Deloittee &amp; Touche LLC, Mr. Parker serves as the Managing
        Member of Elpark Financial LLC, a financial advisory and consulting firm and, since 1982, has served as President of Elpark Inc. and subsidiaries, a family owned real estate, farming, and investment company.</div>
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      <div style="color: #212529;">&#160;</div>
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      <div style="text-indent: 36pt;"><font style="color: #212529;">The Company will compensate Ms. Coley and Mr. Parker for their services as directors in accordance with the Summary of Non-Employee Director Compensation filed as&#160;</font>Exhibit&#160;10.10<font style="color: #212529;">&#160;to the Company&#8217;s Annual Report on Form 10-K for the fiscal year ending December 31, 2018 and incorporated by reference herein.&#160;In connection with their appointment to the Board, the Company granted to each of Ms. Coley
          and Mr. Parker an award of stock appreciation rights (&#8220;SARs&#8221;) under the Company&#8217;s 2019 Stock Appreciation Rights Plan exercisable for 750 shares of the Company&#8217;s common stock at a grant price of $162.29. The SARs will be fully vested as of the
          date of grant and shall expire on May 15, 2026.</font><br>
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    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div><br>
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    <div style="text-align: justify; text-indent: 36pt;">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.</div>
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            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 38%; font-weight: bold;" colspan="2">INVESTORS TITLE COMPANY</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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            <td valign="top" style="width: 50%;" rowspan="1">&#160;</td>
            <td valign="top" style="width: 38%;" colspan="2" rowspan="1">&#160;</td>
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            <td valign="top" style="width: 38%;" colspan="2" rowspan="1">&#160;</td>
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            <td valign="top" style="width: 12%;">&#160;</td>
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              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">Date:&#160; February 27, 2020<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 252pt"> <br>
                </font></div>
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              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">By: </div>
            </td>
            <td valign="top" nowrap="nowrap" align="left" style="width: 35%; border-bottom: #000000 2px solid">/s/ James A. Fine, Jr.</td>
            <td valign="top" style="width: 12%; padding-bottom: 2px;">&#160;</td>
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            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;" rowspan="1" colspan="2">James A. Fine, Jr.</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;" rowspan="1" colspan="2">President, Treasurer and Chief Financial Officer</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
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            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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