UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): June 25, 2007
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NIC INC.
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(Exact name of registrant as specified in its charter)
Colorado 000-26621 52-2077581
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
10540 South Ridgeview Road
Olathe, Kansas 66061
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(Address of principal executive offices, including zip code)
(877) 234-3468
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(Registrant's telephone number, including area code)
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
Eric Bur resigned as Chief Financial Officer of NIC Inc. (the "Company")
effective June 25, 2007 to pursue other opportunities.
In connection with Mr. Bur's resignation, the Company and Mr. Bur agreed that
Mr. Bur will receive the following:
o Mr. Bur will receive base salary for one year, beginning June 25,
2007; paid as regular payroll until August 15, 2007, with the
remaining amount together with accrued vacation paid in a lump sum on
July 13, 2007;
o Mr. Bur will remain an employee of NIC until August 15, 2007 to permit
any shares of restricted stock or options that vest by that date to
vest and be exercised;
o The Company will pay Mr. Bur's COBRA payments through December 31,
2007.
The Company did not appoint an interim Chief Financial Officer. Steve Kovzan,
the Company's Vice President - Financial Operations and Chief Accounting
Officer, will oversee the company's financial operations as an internal and
external search for a new Chief Financial Officer is conducted.
ITEM 7.01 - REGULATION FD DISCLOSURE
2007 Guidance Reaffirmed
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For full-year 2007, the Company's previous guidance remains unchanged: total
revenues of $80 million to $81.5 million, portal revenues of $77 million to $78
million and software and services revenues of $3 million to $3.5 million. The
Company also anticipates operating income between $11.8 million and $12.2
million and net income of $7.5 million to $8.0 million.
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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.
NIC Inc.
Date: June 27, 2007 /s/ Stephen M. Kovzan
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Stephen M. Kovzan
Vice President, Financial Operations
Chief Accounting Officer
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