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: August 9, 2002
(Date of earliest event reported)
PRE-PAID LEGAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 1-9293
Oklahoma 73-1016728
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
321 East Main Street, Ada, Oklahoma 74821-0145
(Address of principal executive offices) (Zip Code)
(Registrants' telephone number, including area code): (580) 436-1234
Item 5. Other Events
As an initial effort to meet the new corporate governance proposals and
requirements set forth by the New York Stock Exchange and the recently enacted
Sarbanes-Oxley Act of 2002, effective August 9, 2002, four members of the
registrant's Board of Directors that do not meet the new independent director
definition resigned from the Board. Those resigning from the Board of Directors
were Kathleen S. Pinson, Wilburn L. Smith, David A. Savula and Shirley A.
Stonecipher. None of the resigning directors expressed any disagreement on any
matter relating to the Registrant's operations, policies or practices.
The three remaining outside, independent Board members, John A. Addison,
President and Co-CEO of Primerica Financial Services; Martin H. Belsky, Dean and
Professor of Law at the University of Tulsa College of Law; and Peter K.
Grunebaum, Director of Corporate Finance with Fortrend International, will
comprise the registrant's Audit Committee and newly formed Compensation and
Nominating Committees.
These three independent board members together with John W. Hail, Chairman and
CEO of Advantage Marketing Systems, Randy Harp, Chief Operating Officer of the
registrant and Harland Stonecipher, Chairman and Chief Executive Officer of the
registrant will comprise the registrants Board of Directors. The registrant
plans to name another independent director to the Board in the coming months.
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 thereunto duly authorized.
PRE-PAID LEGAL SERVICES, INC.
By: /s/ Randy Harp
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Date: August 15, 2002 Randy Harp, Chief Operating Officer