UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report: July 5, 2005
(Date of
earliest event reported)
DCAP
GROUP, INC.
(Exact
Name of Registrant as Specified in Charter)
|
Delaware |
|
0-1665 |
|
36-2476480 |
|
(State
or Other Jurisdiction
of
Incorporation) |
|
(Commission
File No.) |
|
(IRS
Employer Identification
Number) |
|
1158
Broadway, Hewlett, NY |
11557 |
|
(Address
of Principal Executive Offices) |
(Zip
Code) |
Registrant's
telephone number, including area code: (516)
374-7600
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 Principal Officers; Election of Directors; Appointment of
Principal Officers.
On July
11, 2005, David A. Lyons accepted his appointment as a director of DCAP Group,
Inc. (the “Company”). Mr. Lyons was also appointed to the Audit Committee,
Nominating Committee, Compensation Committee and Insurance Committee of the
Board.
Since
2004, Mr. Lyons has been a principal of Den Corporate Advisors, LLC, a
consulting firm focused on business, financing, and merger and acquisition
strategies for public and private companies. Since 2002, Mr. Lyons has also
served as a managing partner of the Nacio Investment Group, whose holdings
include Nacio Systems, Inc., a managed hosting company that provides outsourced
infrastructure and communication services for mid-size businesses. Prior to
forming the Nacio Investment Group, Mr. Lyons served as Vice President of
Acquisitions for Expanets, Inc., a national provider of converged communications
solutions. Previously, he was Chief Executive Officer of Amnex, Inc. and held
various executive management positions at Walker Telephone Systems, Inc. and
Inter-tel, Inc. Mr. Lyons serves on the Board of Directors of GoAmerica, Inc.,
whose securities are traded on Nasdaq.
Item
1.01. Entry
into a Material Definitive Agreement.
On July
5, 2005, the Board of Directors of the Company approved the recommendation of
its Compensation Committee to pay a $100,000 bonus to Barry Goldstein, its Chief
Executive Officer. Mr. Goldstein’s entitlement to the full bonus amount is
conditioned upon his continued employment until June 30, 2006.
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.
| |
DCAP
GROUP, INC. |
|
July
13, 2005 |
By: /s/ Barry B.
Goldstein
Barry
B. Goldstein
President |