UNITED STATES
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

 

EZCORP, Inc.

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation)		0-19424 (Commission File Number)		74-2540145 (IRS Employer
				Identification No.)

1901 Capital Parkway, Austin, Texas 78746
(Address of principal executive offices) (zip code)

Registrant’s telephone number, including area code: (512) 314-3400

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:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o		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

(b)

On August 25, 2009, Richard M. Edwards notified EZCORP, Inc. that he was retiring from the Board of Directors, effective immediately, to pursue and concentrate on other business matters.

(d)		On August 27, 2009, EZCORP, Inc. announced the appointment of Joseph J. Beal to the Board of Directors, effective immediately. A copy of the company’s press release announcing this appointment is attached as Exhibit 99.1. Mr. Beal will serve on the board’s Compensation Committee.
		As a director, Mr. Beal will participate in the standard compensation plan for non-employee directors. Pursuant to that plan, non-employee directors receive an annual retainer fee (expected to be $60,000 for fiscal 2010) and an annual grant of restricted stock (expected to be 6,000 shares for fiscal 2010). The annual cash retainer fee is paid quarterly, and the annual restricted stock awards are made on or about October 1 of each year.

Item 9.01 Financial Statements and Exhibits.

(d)

Exhibits.

99.1

Press Release, dated August 27, 2009

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.

EXHIBIT INDEX

Exhibit
No.		Description of Exhibit
99.1		Press Release, dated August 27, 2009

EXHIBIT 99.1

JOE BEAL JOINS EZCORP BOARD OF DIRECTORS

AUSTIN, Texas (August 27, 2009) — EZCORP, Inc. (Nasdaq: EZPW) announced today that Joseph J. Beal has been appointed to the Board of Directors of EZCORP effective immediately.

Until his retirement in January 2008, Beal was the general manager and chief executive officer of the Lower Colorado River Authority, a Texas conservation and reclamation district with over $1 billion in annual revenues, over $3 billion in assets and more than 2,200 employees. Beal joined LCRA in 1995 to lead its Water Services division, and was appointed by the LCRA board in January 2000 to become its eighth general manager and chief executive officer. Before joining LCRA, Beal was senior vice president and chief operating officer at Espey Huston & Associates, an international engineering and environmental consulting firm based in Austin.

Beal earned a bachelor’s degree in civil engineering from Texas Tech University in 1968, followed by a master’s degree in business administration from the University of Texas at Austin. He and his wife, Nancy, reside in Bastrop, Texas.

Beal replaces Richard M. Edwards, who retired from the EZCORP board to devote more time to other business activities. Beal will serve on the board’s compensation committee.

Joe Rotunda, EZCORP’s President and Chief Executive Officer, stated “We are extremely delighted that Joe Beal has joined our Board of Directors. Joe brings substantial operating and organizational leadership experience as the general manager and chief executive officer of one of Central Texas’ most challenging and important businesses. This experience, combined with Joe’s unique perspective, will greatly benefit our company as we continue to grow our operational base in the U.S., Mexico and Canada and work more closely with our international affiliates.”

Rotunda added, “At the same time, we want to publicly thank Dick Edwards for over two years of contribution and service on our board. Dick’s counsel and perspective have been invaluable during this time of growth and expansion. We wish him the best in his future endeavors.”

EZCORP is primarily a lender or provider of credit services to individuals who do not have cash resources or access to credit to meet their short-term cash needs. In its pawnshops, the Company offers non-recourse loans collateralized by tangible personal property, commonly known as pawn loans. At these locations, the Company also sells merchandise, primarily collateral forfeited from its pawn lending operations, to consumers looking for good value. In its signature loan stores and some pawnshops, the Company offers short-term non-collateralized loans, often referred to as payday loans, or fee based credit services to customers seeking loans.

As of June 30, 2009, EZCORP operated a total of 897 locations in the U.S. and Mexico consisting of 370 U.S. pawnshops, 47 pawnshops in Mexico and 480 U.S. signature loan stores. EZCORP, as a near 30% stockholder, is also actively involved in the management of Albemarle & Bond Holdings PLC, the U.K.’s largest pawnbroking business with 115 stores.

For additional information, contact Dan Tonissen at (512) 314-2289.