FORM
8-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the
Securities Act of 1934
Date
of
Report (Date of earliest event reported) July 19,
2006
ACROSS
AMERICA REAL ESTATE CORP.
(Exact
Name of Small Business Issuer as specified in its charter)
|
Colorado
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000-50764
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20-0003432
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
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1660
Seventeenth Street, Suite 450, Denver, Colorado 80202
(Address
of principal executive offices including zip code)
(303)
893-1003
(Registrant's
telephone number, including area code)
________________________________
(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))
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the
Securities Act of 1934
References
in this document to "us," "we," or "the Company" refer to Across America Real
Estate Corp. and its subsidiaries.
Item
5.02 Departure of Principal Officer; Appointment of New Principal
Officer
Effective
August 7, 2006, Ms. Ann L. Schmitt has been elected by our Board of Directors
as
the new President and Chief Executive Officer. She succeeds Mr. Alexander V.
Lagerborg, who will become our Vice President of Marketing and Sales. Mr.
Lagerborg remains on our Board of Directors.
Most
recently, Ms. Schmitt was President of Aimbridge Lending, a private company
and
the country’s second largest auto loan originator and processing company for
small to midsized financial institutions, serving 16 major U.S. markets. Prior
to that, she led global risk solutions and management at MasterCard
International. Ms. Schmitt has also had senior leadership positions with
Citibank, US Bank, and Dove Consulting.
Under
our
employment arrangement with Ms. Schmitt, she will be paid a salary of $235,000
per annum, which includes a one-time bonus of $80,000, payable by the end of
the
first quarter of 2007. She will also receive a stock option to acquire 250,000
shares at the then-current market price with a four year vesting, with 62,500
options vesting each year on the anniversary of her employment. Annually,
thereafter, 50,000 to 200,000 options will be granted based upon performance,
with a target of 100,000 options at 100% of the plan.
She
will
also participate in our Company health and dental plan and life and disability
insurance program. Finally, she will receive monthly parking and a health club
membership.
Item
7.01 Regulation FD Disclosure
Ann
L. Schmitt Named CEO of Across America Real Estate
DENVER,
COLORADO, July 19th, 2006 - Across America Real Estate Corp. (AARD.OB)
today announced the appointment of Ms. Ann L. Schmitt to the role of President
and Chief Executive Officer for the Company. Ms. Schmitt brings more than 20
years experience in key leadership roles within the financial services industry.
Ms. Schmitt succeeds Mr. Alexander V. Lagerborg, who will continue his focus
on
client relationships in his new role as Across America’s Vice President of Sales
and Marketing. Mr. Lagerborg remains on our Board of Directors.
Most
recently, Ms. Schmitt was President of Aimbridge Lending, the country’s second
largest auto loan originator and processing company for small to midsized
financial institutions, serving 16 major U.S. markets. Prior to that, she led
global risk solutions and management at MasterCard International. Ms. Schmitt
has also had senior leadership positions with Citibank, US Bank, and Dove
Consulting.
“Ann
Schmitt has succeeded in this situation before, so she is an excellent choice
to
take the strong foundation that Across America has built to date and scale
the
Company up for greater achievements in the near future”, said Across America
Director, Eric Balzer. “Her success in managing a multi-billion dollar company
gives us great confidence that Ann’s guidance and leadership will take Across
America to the next level and beyond.”
Newly
appointed CEO, Ann Schmitt added, “The Across America group has done a good job
getting the Company to profitability and establishing a platform for growth.
I
look forward to leveraging my background in significantly scaling financial
services businesses and executing the growth plans to lead them to even greater
success.”
About
Across America Real Estate Corp.
Based
in
Denver, Colorado, Across America Real Estate Corp. (AARD.OB) partners with
national retailers and their developers to provide 100% project funding for
rapid retail expansion. The Company operates in the niche that is the single
pad
small box retail market in the commercial real estate industry. Across America
strives to create financing solutions for increasing retail productivity and
profit. Please visit us at our
website.
For
more
information please contact:
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Ann
L. Schmitt
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James
W. Creamer III
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Across
America Real Estate
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Across
America Real Estate
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303.893.1003
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303.893.1003
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aschmitt@aard.us
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jcreamer@aard.us
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The
statements included in this press release concerning predictions of economic
performance and management's plans and objectives constitute forward- looking
statements made pursuant to the safe harbor provisions of Section 21E of
the
Securities Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. These statements involve risks and uncertainties
that
could cause actual results to differ materially from the forward-looking
statements. Factors which could cause or contribute to such differences include,
but are not limited to, factors detailed in AARD's Securities and Exchange
Commission filings; completion of due diligence and certain other pre-closing
conditions for all incomplete transactions; economic downturns affecting
the
operations of AARD, its subsidiaries or proposed
transactions; the inability to initiate or complete any transaction;
adverse financial performance by AARD or any of its
subsidiaries; adverse equity market conditions and declines in the value
of AARD common stock; and the unavailability of financing to complete
management's plans and objectives. The forward-looking statements contained
in
this press release speak only as of the date hereof and AARD disclaims any
intent or obligation to update these forward-looking
statements.
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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Date:
July 19, 2006
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Across
America Real Estate Corp
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By:
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/s/
Alexander V. Lagerborg
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Alexander
V. Lagerborg
Chief
Executive Officer
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