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
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Date of Report (Date of earliest event reported): |
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December 28, 2010 |
FIRST EQUITY PROPERTIES, INC.
(Exact Name of Registrant as Specified in its Charter)
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Nevada
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000-11777
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95-6799846 |
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(State or other
jurisdiction of incorporation)
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(Commission
File No.)
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(I.R.S. Employer
Identification No.) |
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1800 Valley View Lane, Suite 300 |
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Dallas, Texas
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75234 |
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(Address of principal executive offices)
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(Zip Code) |
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Registrants telephone number, including area code |
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469-522-4200 |
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02. |
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Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers |
(a) and (b) Effective December 28, 2010, Louis J. Corna resigned as a Director, Vice President
and Secretary of First Equity Properties, Inc. (the Registrant or the Company or FEPI). Mr.
Corna had no disagreement with the Registrant on any matter relating to the Registrants
operations, policies or practices. Mr. Corna was appointed as a Director and Vice President of the
Registrant June 1, 2004 and Secretary January 14, 2005.
(c) On December 29, 2010, the Board of Directors of FEPI appointed Steven A.
Shelley,
age 28, Vice President and Secretary of the Company. Mr. Shelley has been employed by Prime Income
Asset Management LLC,a Nevada limited liability company, for more than five years. He is (since
May 2006) a Vice President of Prime Income Asset Management LLC and a Vice President of American
Realty Investors, Inc. (ARL), a Nevada corporation which has its common stock listed on the New
York Stock Exchange, Inc. (NYSE) and of Transcontinental Realty Investors, Inc. (TCI), a Nevada
corporation which has its common stock listed on the NYSE and of Income Opportunity Realty
Investors, Inc. (IOT), a Nevada corporation which has its common stock listed on the American
Stock Exchange LLC (AMEX).
(d) On December 29, 2010, the sole remaining member of the Board of Directors
elected
Steven A. Shelley as a director to fill a vacancy on the Board of Directors. See subpart (c) above
for a description of Mr. Shelleys current and past employment and positions with other publicly
held entities.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly-caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto
duly-authorized.
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Dated: December 29, 2010 |
FIRST EQUITY PROPERTIES, INC.
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By: |
/s/ Gene S. Bertcher
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Gene S. Bertcher, Vice President and Treasurer |
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