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
| Date of Report (Date of Earliest Event Reported): | November 15, 2006 |
H&E Equipment Services, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| Delaware | 000-51759 | 81-0553291 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 11100 Mead Road, Suite 200, Baton Rouge, Louisiana | 70816 | |
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_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
| Registrant’s telephone number, including area code: | (225) 298-5200 |
Not Applicable
______________________________________________
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:
[ ] 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.
(d) On November 15, 2006, the Board of Directors of H&E Equipment Services, Inc. (the "Company"), upon recommendation of the Corporate Governance and Nominating Committee, appointed Paul N. Arnold, Chairman and Chief Executive Officer of Cort Business Services, Inc., as a director of the Company.
The Board of Directors is currently evaluating the committee(s) of the Board of Directors that Mr. Arnold will join. Mr. Arnold will be entitled to receive the same compensation for service as a director as is applicable to the Company's other non-employee directors. As a non-employee director, Mr. Arnold will be entitled to receive a quarterly retainer of $5,000 and meeting fees of $2,000 per board meeting attended and $1,000 per board conference call attended. Pursuant to the Company's 2006 Stock-Based Incentive Compensation Plan, Mr. Arnold is eligible to, and expected to, receive an annual grant of 1,500 stock options beginning in fiscal 2007 which will vest in three equal parts over a three year perio
d.
In connection with the appointment of Mr. Arnold to the Board of Directors, the Company issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this press release shall not be deemed to be incorporated by reference into the Company's filings under the Securities Act of 1933, as amended, except as set forth with respect thereto in any filing.
Item 9.01 Financial Statements and Exhibits.
(d) Press release by H&E Equipment Services, Inc., dated November 20, 2006, announcing the appointment of Paul N. Arnold to the Company's Board of Directors.
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.
| H&E Equipment Services, Inc. | ||||
| November 20, 2006 | By: |
/s/ Leslie S. Magee
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| Name: Leslie S. Magee | ||||
| Title: Chief Financial Officer | ||||
Exhibit Index
| Exhibit No. | Description | |
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99.1
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Press release by H&E Equipment Services, Inc., dated November 20, 2006, announcing the appointment of Paul N. Arnold to the Company's Board of Directors. |
News Release
Exhibit 99.1
Contacts:
Leslie S. Magee
Chief Financial Officer
225-298-5261
lmagee@he-equipment.com
Kevin S. Inda
Corporate Communications, Inc.
407-566-1180
kevin.Inda@cci-ir.com
H&E EQUIPMENT SERVICES ANNOUNCES THE APPOINTMENT OF
PAUL N. ARNOLD TO ITS BOARD OF DIRECTORS
BATON ROUGE, La. — (November 20, 2006) - H&E Equipment Services, Inc. (NASDAQ: HEES) announced that Paul N. Arnold has become a member of the Company’s Board of Directors, effective immediately.
Mr. Arnold has served as a director of Town Sports International Holdings, Inc., an owner and operator of health clubs in the Northeast and mid-Atlantic regions of the United States, since April 1997 and as non-executive Chairman of the Board of Directors since May 2006. Mr. Arnold has served as Chairman and Chief Executive Officer of Cort Business Services, Inc., a Berkshire Hathaway company, since 2000. From 1992 to 2000, Mr. Arnold served as President, Chief Executive Officer and Director of Cort Business Services. Prior to 1992, Mr. Arnold held various positions over a 24-year period within Cort Furniture Rental, a division of Mohasco Industries.
“We are very pleased that Paul Arnold has joined our Board. Paul has a very distinguished business career and we look forward to his involvement with our Company,” said John Engquist, H&E Equipment Services’ president and chief executive officer.
About H&E Equipment Services
The Company is one of the largest integrated equipment services companies in the United States with 47 full-service facilities throughout the Intermountain, Southwest, Gulf Coast, West Coast and Southeast regions of the United States. H&E Inc. is focused on heavy construction and industrial equipment and rents, sells and provides parts and service support for four core categories of specialized equipment: (1) hi-lift or aerial platform equipment; (2) cranes; (3) earthmoving equipment; and (4) industrial lift trucks. By providing equipment rental, sales, and on-site parts, repair and maintenance functions under one roof, the Company is a one-stop provider for its customers’ varied equipment needs. This full service approach provides the Company with multiple points of customer contact, enabling it to maintain a high quality rental fleet, as well as an effective distribution channel for fleet disposal and provides cross-selling opportunities among its new and used equipment sales, rental, parts sales and service operations.
Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the federal securities laws. Statements about our beliefs and expectations and statements containing the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results that differ materially from those contained in any forward-looking statement. Factors include, but are not limited to, the following: (1) general economic conditions and construction activity in the markets where we operate in North America; (2) relationships with new equipment suppliers; (3) increased maintenance and repair costs; (4) our substantial leverage; (5) the risks associated with the expansion of our business; (6) our possible inability to integrate any businesses we acquire; (7) competitive pressures; (8) compliance with laws and regulations, including those relating to environmental matters; and (9) other factors discussed in our public filings, including the risk factors included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2005 and in the Company’s Quarterly Report on Form 10-Q for the three month period ended June 30, 2006. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the SEC, we are under no obligation to publicly update or revise any forward-looking statements after the date of this release.
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