UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) January 11, 2010
Mastech Holdings, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Pennsylvania
(State or Other Jurisdiction of Incorporation)
| 001-34099 | 26-2753540 | |
| (Commission File Number) |
(IRS Employer Identification No.) |
| 1000 Commerce Drive, Suite 500 | 15275 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(412) 787-2100
(Registrant’s Telephone Number, Including Area Code)
N/A
(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 (see General Instruction A.2. below):
| ¨ | 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.
As a result of the divestiture of Global Financial Services of Nevada (“GFS”), Mr. William Gorman is no longer a named executive officer of Mastech Holdings, Inc. (the “Company”). The divestiture occurred on January 11, 2010, as described in Item 8.01 below.
Item 8.01 Other Events.
On January 12, 2010, the Company issued a press release announcing its sale of GFS to Mr. William Gorman, the former vice president of its brokerage operations unit. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(c) The following exhibit is furnished with this Form 8-K:
| 99.1 | Press Release issued by Mastech Holdings, Inc. on January 12, 2010. |
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.
| MASTECH HOLDINGS, INC. | ||
| By: | /S/ JOHN J. CRONIN | |
| Name: | John J. Cronin | |
| Title: | Chief Financial Officer, Secretary, and Treasurer | |
January 12, 2010
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 | Press Release From Mastech Holdings, Inc., dated January 12, 2010. |
Exhibit 99.1
FOR IMMEDIATE RELEASE:
Mastech Holdings, Inc. Sells Brokerage Operations Staffing Unit
PITTSBURGH, PA – January 12, 2010 – Mastech Holdings, Inc., (NYSE Amex: MHH – News), a national provider of Information Technology Staffing services, announced today the sale of its brokerage operations staffing subsidiary, Global Financial Services of Nevada (“GFS”).
The sale was a stock for contingent cash transaction, and was completed on January 11, 2010. The purchaser was William Gorman, former vice president of the brokerage operations unit. Commenting on the transaction, Thomas Moran, Chief Executive Officer of Mastech stated, “the divestiture of GFS will have a minimal impact on the Company’s overall profitability in 2010 and will allow management to better focus on the Company’s core IT staffing operations.”
About Mastech Holdings, Inc.:
Leveraging the power of 20 years of IT experience, Mastech (NYSE Amex: MHH) provides Information Technology Staffing services in the disciplines which drive today’s business operations. More information about Mastech can be found at Mastech’s website: www.mastech.com.
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For more information, contact:
Donna Mascia
Manager, Investor Relations
Mastech Holdings, Inc.
888.330.5497