# EDGAR Filing Document

**Accession Number:** 0000797465
**File Stem:** 0001437749-23-002379
**Filing Date:** 2023-2
**Character Count:** 6342
**Document Hash:** a35014e30a5104345da83d24737449df
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-002379.hdr.sgml**: 20230202

**ACCESSION NUMBER**: 0001437749-23-002379

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230126

**ITEM INFORMATION**: Termination of a Material Definitive Agreement

**FILED AS OF DATE**: 20230202

**DATE AS OF CHANGE**: 20230202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HG Holdings, Inc.
- **CENTRAL INDEX KEY:** 0000797465
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 541272589
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34964
- **FILM NUMBER:** 23581537

**BUSINESS ADDRESS:**
- **STREET 1:** 2115 E. 7TH STREET, SUITE 101
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28211
- **BUSINESS PHONE:** 252-355-4610

**MAIL ADDRESS:**
- **STREET 1:** 2115 E. 7TH STREET, SUITE 101
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28211

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STANLEY FURNITURE CO INC.
- **DATE OF NAME CHANGE:** 20060315

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STANLEY FURNITURE CO INC/
- **DATE OF NAME CHANGE:** 19930908

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STANLEY FURNITURE CO INC
- **DATE OF NAME CHANGE:** 19930908

stly20230202b_8k.htm

**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): **January 26, 2023**

------

**HG Holdings, Inc.**

(Exact name of registrant as specified in its charter)

------

---

| | | |
|:---|:---|:---|
| **<u>Delaware</u>**  | **<u>No. **<u>0-14938</u>**</u>** | **<u>54-1272589</u>** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **2115 E. 7<sup>th</sup> Street, Suite 101**<br> **<u>**<u>Charlotte</u>**, **<u>North Carolina</u>**</u>** | **<u>28204</u>** |
| (Address of principal executive offices) | (Zip Code) |
| **Registrant**'**s telephone number, including area code: (**252**) **355-4610** | **Registrant**'**s telephone number, including area code: (**252**) **355-4610** |
| **<u>Not Applicable</u>**<br> **(Former name or address, if changed since last report)** | **<u>Not Applicable</u>**<br> **(Former name or 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 (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))

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

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| **None** | **N/A** | **N/A** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

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. ☐

------

---

| | |
|:---|:---|
| **Item 1.02** | **Termination of a Material Definitive Agreement.** |

---

On January 26, 2023, the United States Bankruptcy Court in the Southern District of Florida, Ft. Lauderdale Division, entered an order (the "<u>Order</u>") granting a motion from the debtors (including FNU, as defined below) pursuant to Section 365(a) of the Bankruptcy Code authorizing such debtors to reject that certain Management Advisory Services Agreement dated and effective as of July 1, 2022 (the "<u>Advisory Services Agreement</u>") between a wholly-owned subsidiary of HG Holdings, Inc. (the "<u>Company</u>"), HG Managing Agency, LLC, a North Carolina limited liability company ("<u>HGMA</u>") and FedNat Underwriters, Inc. ("<u>FNU</u>"). Based on the Order, the Advisory Services Agreement is deemed rejected as of December 12, 2022.

The description of the Advisory Services Agreement and the relationships between the Company, its affiliates and the parties to the Advisory Services Agreement contained in the Company's Current Report on Form 8-K filed on July 7, 2022 is hereby incorporated by reference hereto.

As background, on December 11, 2022, FedNat Holding Company ("FedNat") and certain of its wholly owned subsidiaries, including FNU, filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Florida for the stated reason to maximize value for all stakeholders. As part of the Chapter 11 process, based on its voluntary petitions, FedNat said it will evaluate all strategic alternatives to maximize value for stakeholders, whether that be a reorganization of its business or a sale of its assets.

Effective with the rejection of the Advisory Services Agreement, the Company will no longer earn compensation for the remaining duration of the agreement. The Company is exploring all measurers regarding the recovery of any lost compensation.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | HG HOLDINGS, INC. | HG HOLDINGS, INC. |
| Date: February 2, 2023  | By:  | /s/ Justin H. Edenfield |
|  |  | Justin H. Edenfield |
|  |  | Principal Financial and Accounting Officer |

---