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): December 27, 2010
OPTIONABLE, INC.
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 000-51837 | 52-2219407 |
| (State of Incorporation) | (Commission File Number) | (IRS Employer ID) |
55 St. Marks Place, Suite 4
New York, NY 10003-7988
(Address of principal executive offices)
(914) 773-1100
(Registrant’s telephone number, including area code)
(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 Instructions 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 8.01 Other Events
On December 27, 2010, the board of directors (the “Board”) of Optionable, Inc. (the “Company”) increased the size of the Board from three directors to four, effective immediately.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Also, on December 27, 2010, the Board elected Matthew L. Katzeff, age 40, to the Board. Mr. Katzeff, has been the Company’s Chief Financial Officer since July 27, 2010. There is no family relationship between Mr. Katzeff and any Board member or any other executive officer of the Company. Mr. Katzeff shall receive an annual compensation of $25,000 for his services on the Board. There is no other arrangement or understanding between Mr. Katzeff and any other persons pursuant to which he was selected as a director.
Mr. Katzeff is a managing director and head of M&A at Ashir Capital, a financial advisory and strategic consulting firm primarily focused on Chinese companies. He has extensive experience in investment banking, starting in 1993 with The Blackstone Group, where he worked as an analyst. Since his tenure at Blackstone, Mr. Katzeff was part of the M&A teams at SBC Warburg Dillon Read, Credit Suisse First Boston, and the Peter J. Solomon Company. He then became a vice president at North Atlantic Trading Company, focusing on the sourcing and execution of both stand-alone and “bolt-on” private equity investments. He was also responsible for the financing and refinancing of a number of the company’s investments and acquisitions, including the arrangement of senior debt facilities and high-yield offerings. More recently, Mr. Katzeff was a managing director at J. Giordano Securities Group, an investment banking boutique in which he focused upon the development, strategy and execution of debt and equity capital transactions as well as M&A across a number of industry sectors.
Mr. Katzeff has closed transactions amounting to an aggregate value of approximately $14 billion. Sectors in which Mr. Katzeff has operated include consumer products, retail, business process outsourcing, teleservices, IT services, aerospace and defense, healthcare, building materials, gaming, enterprise software, financial institutions, natural resources, alternative fuels, and general industrial & manufacturing.
Mr. Katzeff graduated from Cornell University in 1991, earning a BS in Economics with a concentration in International Finance. He is Series 7, 63 and 79 licensed and also is proficient in Spanish and Japanese.
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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OPTIONABLE, INC.
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By:
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/s/ Brad P. O’Sullivan | ||
| Brad P. O’Sullivan | |||
| Chief Executive Officer | |||
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Date: December 29, 2010
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