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): March ~~January 14~~23, 2022

NOVATION COMPANIES, INC.

(Exact name of registrant as specified in its charter)

Maryland		000-22897		74-2830661
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

9229 Ward Parkway, Suite 340, Kansas City, MO 64114

(Address of principal executive offices) (Zip Code)

(816) 237-7000

(Registrant’s telephone number, including area code)

Not Applicable

(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))

Securities registered pursuant to Section 12(b) of the Act: None

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 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On ~~January~~March 1423, 2022, David W. Pointer tendered his resignation as ~~Chief~~a ~~Executive~~member ~~Officer~~of the Board of Directors (the “Board”) of Novation Companies, Inc. (the "Company") effective ~~immediately~~March 31, 2022. Mr. Pointer, ~~had~~the ~~served~~former inChief ~~his~~Executive ~~role~~Officer of the Company, had served as ~~Chief~~a ~~Executive~~member ~~Officer~~of the Board since March 27, 2018. ~~Mr.~~ ~~Pointer~~His ~~has~~decision ~~also~~was ~~been~~based on personal reasons and not a ~~member~~result of ~~the~~any ~~Company’s~~disagreement ~~Board~~between ofhim ~~Directors~~and (the ~~“Board”)~~Company ~~since~~on ~~that~~any ~~time~~matter ~~and~~relating to ~~will~~the ~~remain~~Company’s onoperations, ~~the~~policies, ~~Board~~personnel or practices.

On ~~January~~March 1825, 2022, ~~the~~Mark ~~Company~~Hampton tendered ~~appointed~~his ~~Michael~~resignation ~~Wyse~~ as Chief ~~Restructuring~~Executive Officer. Inof ~~that~~Healthcare ~~role~~Staffing, MrInc. ~~Wyse will explore strategic alternatives for the Company~~, ~~including~~ the ~~potential sale of the~~ Company’s wholly- owned subsidiary, ~~Healthcare Staffing, Inc.~~ (“HCS”)., effective ~~The Board determined to appoint a Chief Restructuring Officer~~ as ~~a result~~ of ~~declining~~March ~~revenue~~31, at2022. ~~HCS~~Mr. ~~during~~Hampton ~~2021,~~served ~~caused~~ in ~~part~~his byrole ~~the~~as ~~loss~~Chief ofExecutive ~~two~~Officer ~~CSB customers, one~~ of ~~which~~HCS ~~was~~since ~~significant, as disclosed in the Company’s Quarterly Report on Form 10-Q for the quarter ending~~ June 3025, 2021~~, previously filed with the Securities and Exchange Commission~~. ~~HCS also recently received a contract termination notice from another significant CSB customer, which will be effective in the next two months.~~

~~Michael~~On ~~Wyse~~March 28, ~~age 45~~2022, ~~has~~Carolyn K. ~~served~~Campbell astendered ~~the~~her ~~Founder~~resignation &as ~~Managing~~Chief ~~Partner~~Financial Officer of ~~Wyse~~the ~~Advisors~~Company ~~LLC~~effective ~~(“WALLC”),~~as aof ~~consulting~~April ~~firm~~15, ~~since 2015~~2022. ~~Through WALLC, Mr~~Ms. ~~Wyse~~Campbell ~~has~~served ~~advised~~in her ~~numerous~~role ~~companies,~~as ~~bringing~~Chief ~~comprehensive~~Financial ~~solutions~~Officer tosince ~~complex~~August ~~situations~~9, ~~including through serving as an interim officer and/or director~~2017.

~~Mr.~~As previously reported on January 20, 2022, Michael Wyse’s, ~~services~~the ~~are~~Chief ~~being~~Restructuring ~~provided~~Officer of the Company, is providing services to the Company bythrough an engagement letter with Wyse Advisors LLC (“WALLC”) for an engagement fee of $20,000, ~~due upon signing the engagement letter and~~ 5% of the Gross Proceeds of HCS assets, inclusive of accounts receivable monetization, and 4% of the gross proceeds for the monetization of Novation assets and any other assets of the Company (the “Success Fee”).

~~Mr.~~On ~~Wyse~~March ~~does not have any family relationship with any director~~30, ~~executive officer~~2022, ~~or person nominated or chosen by~~ the Company amended tothe ~~become~~engagement aletter ~~director~~to orprovide ~~executive~~that ~~officer.~~WALLC ~~There~~shall ~~are~~receive noa ~~related~~monthly ~~party~~fee ~~transactions~~of ~~involving~~$30,000 ~~Mr.~~to ~~Wyse~~be ~~that~~credited ~~are~~against ~~reportable~~the ~~under~~Success ~~Item 404(a) of Regulation S-K~~Fee.

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.

	NOVATION COMPANIES, INC.	~~NOVATION COMPANIES, INC.~~
Date: January 20, 2022		/s/ Carolyn K. Campbell
Date: April 7, 2022	/s/ Michael Wyse
		Name: Carolyn K. Campbell Title: Chief Financial Officer
	Name: Michael Wyse Title: Chief Restructuring Officer

Filing Compare · NOVATION COMPANIES, INC.