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: October 17, 2008
(Date of earliest event reported)
Hornbeck Offshore Services, Inc.
(Exact Name of Registrant as Specified in Its Charter)
| Delaware | 001-32108 | 72-1375844 | ||
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||
| 103 Northpark Boulevard, Suite 300 Covington, LA | 70433 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
(985) 727-2000
(Registrant’s Telephone Number, Including Area Code)
N/A
(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 (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)) |
Item 8.01 Other Events.
On October 17, 2008, Hornbeck Offshore Services, Inc. (the Company), a Delaware corporation, announced that 4,520 shares of Hornbeck Offshore common stock owned by its Chief Operating Officer, Carl G. Annessa, were recently sold pursuant to an involuntary margin call affected by Mr. Annessa’s broker. Following the sale, Mr. Annessa still beneficially owns or has rights to approximately 235,000 shares of Company stock, including previously granted vested and unvested stock-based compensation. However, only about 44,000 of those shares remain pledged. Given the recent volatility in the capital markets, it is possible that additional involuntary sales by Mr. Annessa’s broker could occur. No other officers or directors of Hornbeck Offshore have any Company common stock pledged against margin loans.
A copy of the press release is attached hereto as Exhibit 99.1, is incorporated herein by reference, and is hereby filed.
Item 9.01 – Financial Statements and Exhibits
| (c) | Exhibits. |
| 99.1 | Press Release, dated October 17, 2008 |
2
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 thereunto duly authorized.
| Hornbeck Offshore Services, Inc. | ||||
| Date: October 17, 2008 | By: | /s/ James O. Harp, Jr. | ||
| James O. Harp, Jr. | ||||
| Executive Vice President and Chief Financial Officer | ||||
Exhibit 99.1
| NEWS RELEASE 08-013 |
Contacts: | Jim Harp, CFO | ||||
| Hornbeck Offshore Services | ||||||
| 985-727-6802 | ||||||
| For Immediate Release | Ken Dennard, Managing Partner | |||||
| DRG&E / 713-529-6600 |
HORNBECK OFFSHORE REPORTS
INVOLUNTARY SALE OF COO’s COMMON STOCK
No Other Officers or Directors Affected
October 17, 2008 — Covington, Louisiana — Hornbeck Offshore Services, Inc. (NYSE:HOS) today announced that 4,520 shares of Hornbeck Offshore common stock owned by its Chief Operating Officer, Carl G. Annessa, were recently sold pursuant to an involuntary margin call affected by Mr. Annessa’s broker. Following the sale, Mr. Annessa still beneficially owns or has rights to approximately 235,000 shares of Company stock, including previously granted vested and unvested stock-based compensation. However, only about 44,000 of those shares remain pledged. Given the recent volatility in the capital markets, it is possible that additional involuntary sales by Mr. Annessa’s broker could occur. No other officers or directors of Hornbeck Offshore have any Company common stock pledged against margin loans.
Mr. Annessa commented, “I am extremely disappointed to have been forced to sell any of my shares of Hornbeck Offshore stock at such a low price and am actively taking steps to eliminate the margin balance with my broker. These involuntary sales in no way reflect my view of the Company’s financial position or future outlook. I am as confident as ever in the long-term strength of Hornbeck Offshore.”
Hornbeck Offshore Services, Inc. is a leading provider of technologically advanced, new generation offshore supply vessels in the U.S. Gulf of Mexico and in select other domestic and international markets, and is a leading short-haul transporter of petroleum products through its coastwise fleet of ocean-going tugs and tank barges in the northeastern U.S., the domestic Gulf of Mexico, the Great Lakes and in Puerto Rico. Hornbeck Offshore currently owns a fleet of over 80 vessels primarily serving the energy industry.
| 103 Northpark Boulevard, Suite 300 |
Phone: (985) 727-2000 | |
| Covington, Louisiana 70433 |
Fax: (985) 727-2006 |