# EDGAR Filing Document

**Accession Number:** 0000849145
**File Stem:** 0000950170-23-009182
**Filing Date:** 2023-3
**Character Count:** 13188
**Document Hash:** a02e3a42f2c6d9c9876d3fad93417f55
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-23-009182.hdr.sgml**: 20230322

**ACCESSION NUMBER**: 0000950170-23-009182

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230317

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230322

**DATE AS OF CHANGE**: 20230322

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Heritage Global Inc.
- **CENTRAL INDEX KEY:** 0000849145
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **IRS NUMBER:** 592291344
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39471
- **FILM NUMBER:** 23753115

**BUSINESS ADDRESS:**
- **STREET 1:** 12625 HIGH BLUFF DRIVE
- **STREET 2:** SUITE 305
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130
- **BUSINESS PHONE:** 858-847-0655

**MAIL ADDRESS:**
- **STREET 1:** 12625 HIGH BLUFF DRIVE
- **STREET 2:** SUITE 305
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Counsel RB Capital Inc.
- **DATE OF NAME CHANGE:** 20110121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** C2 Global Technologies Inc
- **DATE OF NAME CHANGE:** 20050812

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ACCERIS COMMUNICATIONS INC
- **DATE OF NAME CHANGE:** 20040220

?xml version="1.0" encoding="ASCII"? 8-K

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549** 

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**FORM** 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of The Securities Exchange Act of 1934**

**Date of Report (date of earliest event reported): March 22, 2023 (**March 17, 2023**)**

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![img161565868_0.jpg](img161565868_0.jpg)

HERITAGE GLOBAL INC.

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| Florida | 001-39471 | 59-2291344 |
| **(State or other jurisdiction**<br>**of incorporation)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification No.)** |

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| | |
|:---|:---|
| 12625 High Bluff Drive**,** Suite 305**,** San Diego**,** California  | 92130 |
| **(Address of principal executive offices)** | **(Zip Code)** |

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**Registrant's telephone number, including area code: (**858**)** 847-0656

**Not Applicable**

**(Former Name or Former Address, if Changed Since Last Report)** 

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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 (l7 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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| | |
|:---|:---|
| &nbsp;&nbsp;Title of each class | &nbsp;&nbsp;Name of each exchange on which registered |
| &nbsp;&nbsp;Common Stock, $0.01 Par Value<br> &nbsp;&nbsp;HGBL | &nbsp;&nbsp;Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On March 17, 2023, the Board, with the recommendation of the Corporate Governance Committee of the Board, appointed William (Bill) Burnham to fill a vacancy, effective April 1, 2023, as a Class II director of the Company. Mr. Burnham was also appointed to the Audit Committee of the Board. As a Class II director, Mr. Burnham's term is scheduled to expire at the Company's 2023 annual meeting of shareholders, subject to the election and qualification of his successor or his earlier death, resignation, disqualification or removal.

Mr. Burnham has extensive investing and capital markets experience as an institutional investor, venture capitalist and public equity analyst. Mr. Burnham is currently the Managing Member of Inductive Capital LP, a technology focused investment fund which he founded in 2006. Prior to Inductive, Mr. Burnham was a venture capital investor at both SOFTBANK Capital Partners and Mobius Venture Capital and prior to that a senior equity research analyst at Credit Suisse First Boston, Deutsche Morgan Grenfell, and Piper Jaffray. Over the course of his investment career Mr. Burnham has served on a numerous public and private company boards in both the United States and Canada. He currently serves as a Director of TrustCloud Inc. and is a Board Advisor to Abine Inc. Prior to his investing career, Mr. Burnham was a Senior Associate at the management consulting firm of Booz, Allen & Hamilton. He attended Washington University where he graduated Summa Cum Laude, Phi Beta Kappa.

Mr. Burnham will be entitled to receive a $25,000 annual retainer for service as a Board member as well as a $5,000 supplemental annual retainer as a member of the Audit Committee of the Board. In addition, in connection with his appointment to the Board, Mr. Burnham will receive a restricted stock award of 15,000 shares of the Company's common stock. The shares subject to such restricted stock award will vest on the first anniversary of the grant.

Mr. Burnham is not a party to any arrangement or understanding with any person pursuant to which he was elected a director of the Company. There are no family relationships between Mr. Burnham and any director, executive officer, or any person nominated or chosen by the Company to become a director or executive officer. Mr. Burnham is not a party to any transaction requiring disclosure pursuant to Item 404(a) of Regulation S-K.

**Item 7.01 Regulation FD Disclosure.**

On March 22, 2023, Heritage Global Inc. issued a press release. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 hereto) is being "furnished" and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of Section 18, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing. The information included in this Current Report on Form 8-K under this Item 7.01 (including Exhibit 99.1 hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

**Item 9.01 Financial Statements and Exhibits.**

**(d) Exhibits:**

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| | |
|:---|:---|
| **No.** | **Description** |
| 99.1 | [<u>Press Release, dated March 22, 2023, issued by Heritage Global Inc.</u>](hgbl-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (formatted in Inline eXtensible Business Reporting Language) |

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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.

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| | | |
|:---|:---|:---|
|  | **HERITAGE GLOBAL INC.** | **HERITAGE GLOBAL INC.** |
| &nbsp;&nbsp;Date: March 22, 2023 | By: | /s/ Ross Dove |
|  |  | Name: Ross Dove |
|  |  | Title: Chief Executive Officer |

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## Ex-99

**Exhibit 99.1**

**Heritage Global Announces Appointment of Bill Burnham to Board of Directors**

SAN DIEGO, California (March 22, 2023) — Heritage Global Inc. (NASDAQ: HGBL) ("Heritage Global," "HG" or "the Company"), an asset services company specializing in financial and industrial asset transactions, today announced the appointment of William ("Bill") Burnham to its Board of Directors.

Mr. Burnham brings more than 20 years of extensive investment and capital markets experience as an institutional investor, venture capitalist and public equity analyst. As the Founder and Managing Partner of Inductive Capital, Mr. Burnham currently oversees a global portfolio of technology-related public equity investments. Prior to founding Inductive Capital in 2006, he was a venture capital investor at SOFTBANK Capital Partners, a $1.5BN late-stage investment fund, and Mobius Venture Capital, a $1.25BN early-stage fund. Earlier in his career, Mr. Burnham served as an equity research analyst at Credit Suisse First Boston, Deutsche Morgan Grenfell, and Piper Jaffray.

Mr. Burnham has served on numerous public and private company boards in the United States and Canada. He currently serves as a Director of TrustCloud Inc., a software platform that uses AI and API-based automation to unify both sales and security workflows, and as a Board Advisor to Abine Inc., a cloud-based identity security SaaS platform.

Heritage Global's Chief Executive Officer Ross Dove commented, "We warmly welcome Bill to our Board, and expect that his extensive public company and capital markets experience as well as his proven success building businesses will add remarkable value. Heritage has a tremendous opportunity to accelerate growth in both our Industrial Assets and Financial Assets businesses and I look forward to working with Bill as we execute our strategy to capture the full potential of the current economic climate, which is helping drive strong demand for our capabilities around industrial asset disposal and debt brokerage. This is an exciting time for our Company and we look forward to Bill's contributions."

Mr. Burnham commented, "I am thrilled to join the team at Heritage Global at this time of dynamic growth. I look forward to lending my experience and guidance to help further Heritage's leadership position in the markets it serves."

**About Heritage Global Inc**

**<u>Heritage Global Inc.</u> ("HG")** values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, and charged-off account receivable portfolios through its two business units: Industrial Assets and Financial Assets.

**Forward-Looking Statements**

This communication includes forward-looking statements based on our current expectations and projections about future events. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. While the Company believes the forward-looking statements contained in this communication are accurate, these forward-looking statements represent the Company's beliefs only as of the date of this communication, and there are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements, including variability in magnitude and timing of asset liquidation transactions, the impact of changes in the U.S. national and global economies, and interest rate and foreign exchange rate sensitivity, as well as other factors beyond the Company's control. Unless required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. For more details on factors that could affect these expectations, please see our filings with the Securities and Exchange Commission.

**Investor Relations Contact:**

John Nesbett/Jennifer Belodeau<br>IMS Investor Relations<br>203/972.9200<br><u>InvestorRelations@hginc.com</u> <br>

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