UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

~~Pursuant~~PURSUANT toTO ~~Section~~SECTION 13 orOR 15(d)

ofOF ~~The~~THE ~~Securities~~SECURITIES ~~Exchange~~EXCHANGE ~~Act~~ACT ofOF 1934

Date of Report: ~~April~~(Date ~~19,~~of ~~2021~~Earliest ~~(April~~Event ~~19, 2021~~Reported):

~~(Date~~April of21, ~~earliest~~2021 ~~event~~(April ~~reported~~16, 2021)

NIC Inc.

(Exact Name of Issuer as Specified in Charter)

Delaware	000-26621	52-2077581
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification Number)
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

25501 West Valley Parkway, Suite 300

Olathe, Kansas 66061

(Address of Principal Executive Offices)

(877) 234-3468

(Registrant’s ~~Telephone~~telephone ~~Number~~number, ~~Including~~including ~~Area~~area ~~Code~~code)

~~Not~~Check ~~Applicable~~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:

(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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 par value	EGOV	The Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):.

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~~Introductory ~~5.07 Submission of Matters to a Vote of Security Holders.~~Note

On April 1921, 2021, ~~NIC Inc.~~ (the “~~Company”~~Closing ~~or “NIC~~Date”), ~~held~~Topos aAcquisition, ~~special~~Inc. ~~meeting of its stockholders~~ (~~the~~ “~~Special~~Merger ~~Meeting~~Sub”), toa ~~vote~~Delaware oncorporation ~~the~~and ~~proposals~~wholly ~~described~~owned insubsidiary ~~the~~of ~~Company’s definitive~~Tyler ~~proxy~~Technologies, ~~statement~~Inc. (~~the~~ “~~Proxy Statement~~Parent”), a ~~filed~~Delaware ~~with~~corporation, ~~the~~merged ~~U.S.~~with ~~Securities~~ and ~~Exchange~~into ~~Commission~~NIC Inc. (the “~~SEC~~Company”), ona ~~March~~Delaware 17corporation, ~~2021. As~~with ~~disclosed in~~ the ~~Proxy~~Company ~~Statement,~~continuing as of the ~~close~~surviving ofcorporation ~~business~~(the ~~on March 16~~“Merger”), ~~2021,~~pursuant to the ~~record~~previously ~~date~~announced ~~for~~Agreement ~~the~~and ~~Special~~Plan ~~Meeting,~~of ~~there were 67~~Merger,~~905,010~~ ~~shares~~dated as of ~~NIC’s~~February ~~common~~9, ~~stock~~2021 ~~issued~~(the ~~and~~“Merger Agreement”), ~~outstanding~~by and ~~entitled~~among tothe ~~vote~~Company, atParent ~~the~~and ~~Special~~Merger ~~Meeting~~Sub. AAs ~~total~~a ofresult ~~54,002,374 shares~~ of ~~NIC’s common~~the ~~stock~~Merger, ~~representing approximately 79.5% of~~ the ~~shares~~Company ~~issued~~became ~~and~~a ~~outstanding~~wholly-owned ~~and~~subsidiary ~~entitled~~of toParent. The ~~vote,~~Company and ~~constituting~~Parent apreviously ~~quorum,~~announced ~~were~~entry ~~represented~~into inthe ~~person~~Merger orAgreement byon ~~valid~~February 10, ~~proxies at the Special Meeting~~2021. The ~~final~~Merger ~~voting~~Agreement ~~results~~was ~~for~~adopted ~~each~~by of the ~~proposals~~ ~~submitted~~Company’s ~~to a vote of~~ stockholders at ~~the~~a ~~Special~~special ~~Meeting~~meeting ~~are~~held ason ~~follows:~~April 19, 2021.

For		Against		Abstained
52,675,185		1,232,505		94,684

Item 1.02

Termination of a Material Definitive Agreement.

~~Proposal~~The ~~2: NIC’s~~information ~~stockholders~~set ~~approved~~forth ~~the proposal to approve, on a non-binding advisory basis, specified compensation that may be paid or become payable to NIC’s named executive officers~~ in ~~connection with~~ the ~~Merger~~Introductory ~~and~~Note ~~contemplated~~is byincorporated ~~the Merger Agreement. Proposal 2 was approved~~ by ~~the~~reference ~~votes~~into ~~set~~this ~~forth~~Item ~~in the table below:~~1.02.

For		Against		Abstained
50,042,288		3,339,722		620,364

In connection with the completion of the Merger (as described further under Item 2.01), on April 19, 2021 that certain Amended and Restated Credit Agreement, dated as of August 6, 2014 between the Company, as borrower, and Bank of America, N.A., as bank and letter of credit issuer, as amended by Amendment No. 1 dated as of July 9, 2015, Amendment No. 2 dated as of December 14, 2015, Amendment No. 3 dated as of April 28, 2017 and Amendment No. 4 dated as of May 1, 2019 (as further amended, modified, extended, restated, replaced, or supplemented, the “Credit Agreement”), was terminated, one outstanding letter of credit was cash collateralized, all commitments under the Credit Agreement were terminated, all guarantees were terminated and any security interests or liens (excluding liens granted to cash collateralize such letter of credit) granted to the lender were terminated. Other than such cash collateralized letter of credit, there were no loans outstanding under the Credit Agreement.

~~Proposal 3: In~~Item connection with the Special Meeting, NIC also solicited proxies with respect to a proposal to approve one or more adjournments of the Special Meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve the proposal to adopt the Merger Agreement2. ~~Because~~01 ~~there~~Completion ~~were sufficient votes represented at the time~~ of ~~the~~Acquisition ~~Special Meeting to approve the proposal to adopt the Merger Agreement, the proposal to approve one~~ or ~~more~~Disposition ~~adjournments~~ of ~~the Special Meeting was moot and was not presented for approval by NIC’s stockholders at the Special Meeting~~Assets.

The information set forth under the Introductory Note is incorporated by reference into this Item 82.01 ~~Other Events~~.

OnPursuant ~~April~~to 19the terms of the Merger Agreement, ~~2021~~at the effective time of the Merger (the “Effective Time”), each outstanding share of Common Stock, par value $0.0001 per share, of the Company ~~issued~~(“NIC aCommon ~~press~~Stock”), ~~release~~other ~~announcing~~than ~~the~~(i) ~~results~~shares of NIC Common Stock owned directly or indirectly by the ~~Special~~Company, ~~Meeting. A~~Parent ~~copy~~or any of their respective subsidiaries immediately prior to the ~~press~~Effective ~~release~~Time, ~~is attached~~(ii) ~~hereto~~shares of NIC Common Stock as ~~Exhibit~~to ~~99.1~~which dissenters’ rights have been properly perfected, and (iii) ~~incorporated~~shares ~~herein~~of byNIC ~~reference~~Common Stock subject to unvested NIC restricted stock awards, was converted into the right to receive $34.00 in cash, without interest (the “Merger Consideration”).

Pursuant to the Merger Agreement, at the Effective Time, (i) each vested restricted stock award was converted into the right to receive the Merger Consideration with respect to each share of NIC Common Stock subject to such awards, less applicable withholding of taxes and other authorized deductions, (ii) each outstanding unvested performance-based restricted stock award automatically vested in full, in accordance with the terms of its award agreement, and was converted into the right to receive the Merger Consideration with respect to such number of shares of NIC Common Stock subject to such awards, less applicable withholding of taxes and other authorized deductions, and (iii) each outstanding unvested time-based restricted stock award was assumed by Parent and converted into corresponding awards relating to Parent’s common stock under Parent’s equity compensation plan on the same terms and conditions, including with respect to vesting, except that the number of shares of restricted Parent common stock shall equal the product (rounded to the nearest whole share) of the number of shares of NIC Common Stock subject to the assumed award multiplied by the Restricted Stock Conversion Ratio, which is 0.0769. The “Restricted Stock Conversion Ratio” means the quotient, rounded (with simple rounding) to the fourth decimal place, obtained by dividing (i) the Merger Consideration by (ii) the volume weighted average closing sale price of one share of Parent common stock as reported on the NYSE for the ten consecutive trading days ending on April 20, 2021, the trading day immediately preceding the Closing Date.

In connection with the Merger, Parent paid approximately $2.3 billion in cash as the aggregate Merger Consideration.

The foregoing description of the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement, a copy of which is filed as Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on February 10, 2021 and is incorporated by reference herein.

~~Forward-Looking~~Item ~~Statements~~3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

~~This~~The ~~Current~~information ~~Report~~set onforth Form 8-K contains “forward-looking statements” within the meaning of the U.S. federal securities laws. Such statements include statements concerning anticipated future events and expectations that are not historical facts. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,” “positions,” “plan,” “predict,” “project,” “forecast,” “guidance,” “goal,” “objective,” “prospects,” “possible” or “potential,” by future conditional verbs such as “assume,” “will,” “would,” “should,” “could” or “may,” or by variations of such words or by similar expressions or the negative thereof. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without limitation: (1) risks related to the consummation of the transaction, including the risks that (a) the transaction may not be consummated within the anticipated time period, or at all, and (b) other conditions to the consummation of the transaction under the Merger Agreement may not be satisfied; (2) the effects that any termination of the Merger Agreement may have on NIC or its business, including the risks that NIC’s stock price may decline significantly if the transaction is not completed; (3) the effects that the announcement or pendency of the merger may have on NIC and its business, including the risks that as a result (a) NIC’s business, operating results or stock price may suffer, (b) NIC’s current plans and operations may be disrupted, (c) NIC’s ability to retain or recruit key employees may be adversely affected, (d) NIC’s business relationships (including, customers and suppliers) may be adversely affected, or (e) NIC’s management’s or employees’ attention may be diverted from other important matters; (4) the effect of limitations that the Merger Agreement places on NIC’s ability to operate its business, return capital to stockholders or engage in ~~alternative transactions; (5)~~ the ~~nature,~~Introductory ~~cost~~Note and outcome of pending and future litigation and other legal proceedings, including any such proceedings related to the merger and instituted against NIC and others; (6) the risk that the merger and related transactions may involve unexpected costs, liabilities or delays; (7) other economic, business, competitive, legal, regulatory, and/or tax factors; and (8) other factors described under ~~the heading “Risk Factors” in Part I,~~ Item ~~1A of NIC’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as updated or supplemented by subsequent reports that NIC has filed or files with the U~~2.S.01 Securities and Exchange Commission. Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. NIC does not assume any obligation to publicly update any forward-looking statement after it is ~~made,~~incorporated ~~whether~~by asreference ainto ~~result~~this ofItem ~~new information, future events or otherwise, except as required by law~~3.01.

On the Closing Date, in connection with the completion of the Merger, the Company notified the Nasdaq Global Select Market (“Nasdaq”) that each outstanding share of NIC Common Stock (except as described in Item 2.01) was converted into the right to receive the Merger Consideration pursuant to the Merger Agreement as set forth under Item 2.01. Nasdaq halted trading of NIC Common Stock [prior to the opening of Nasdaq on the Closing Date] and filed a Notification of Removal from Listing and/or Registration on Form 25 with the SEC to remove the Common Stock from listing on Nasdaq and to deregister NIC Common Stock pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Additionally, the Company intends to file with the SEC a Certification and Notice of Termination of Registration on Form 15 requesting the termination of registration of NIC Common Stock under Section 12(g) of the Exchange Act and the suspension of the Company’s reporting obligations under Sections 13 and 15(d) of the Exchange Act.

Item 3.03

Material Modification to Rights of Security Holders.

The information set forth in the Introductory Note and under Items 2.01, 3.01 and 5.03 is incorporated by reference into this Item 3.03.

In connection with the completion of the Merger, at the Effective Time, each outstanding share of NIC Common Stock (except as described in Item 2.01) was converted into the right to receive the Merger Consideration pursuant to the Merger Agreement as set forth under Item 2.01, and holders of such NIC Common Stock ceased to have any rights as stockholders of the Company, except as provided in the Merger Agreement or by applicable law.

Item 5.01

Changes in Control of Registrant.

The information set forth in the Introductory Note and under Items 2.01 and 5.02 is incorporated by reference into this Item 5.01.

As a result of the Merger, a change in control of the Company occurred, and the Company is now a wholly-owned subsidiary of Parent.

Item 5.02

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

The information set forth in the Introductory Note and under Item 2.01 is incorporated by reference into this Item 5.02.

Directors

In connection with the completion of the Merger, at the Effective Time, each of the Company’s directors immediately prior to the Effective Time (Harry Herington, Art N. Burtscher, Venmal (Raji) Arasu, C. Brad Henry, Sylvester James, Jr., Alexander C. Kemper, William M. Lyons, Anthony Scott, Jayaprakash Vijayan and Pete Wilson) ceased to be directors of the Company. These departures were in connection with the Merger and not due to any disagreement with the Company on any matter. As of the Effective Time, H. Lynn Moore, Jr., who was the sole director of Merger Sub immediately prior to the Effective Time, became the sole director of the Company.

Officers

With the completion of the acquisition, the Company’s Chief Executive Officer and board member Harry H. Herington is retiring from the organization. On April 16, 2021, Parent entered into a separation of employment agreement, dated as of April 21, 2021, with Mr. Herington (the “Separation Agreement”), pursuant to which Mr. Herington’s employment with the Company shall terminate effective as of 11:59 p.m. Eastern Time on the Closing Date. Pursuant to the Separation Agreement, Mr. Herington is entitled to a one-time lump sum cash payment of $1,550,000, which is in lieu of any remaining entitlements Mr. Herington may have under his employment agreement. The Separation Agreement also contains certain post-employment restrictive covenants, including non-solicitation, non-competition and non-disparagement covenants, and incorporates other covenants to which Mr. Herington is already subject. All payments pursuant to the Separation Agreement are subject to Mr. Herington’s release of claims contained therein.

The above-referenced description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Separation Agreement, which is attached hereto as Exhibit 10.1 and incorporated by reference into this Item 5.02.

In connection with the completion of the Merger, at the Effective Time, each of the Company’s officers immediately prior to the Effective Time ceased to be officers of the Company, and the officers of Merger Sub immediately prior to the Effective Time became the officers of the Company.

Item 5.03

Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

At the Effective Time, the amended and restated certificate of incorporation of the Company, as in effect immediately prior to the Effective Time, was amended and restated in its entirety. A copy of such amended and restated certificate of incorporation is attached hereto as Exhibit 3.1 and is incorporated by reference into this Item 5.03.

At the Effective Time, the amended and restated bylaws of the Company, as amended to date, as in effect immediately prior to the Effective Time, were amended and restated in their entirety. A copy of such amended and restated bylaws is attached hereto as Exhibit 3.2 and is incorporated by reference into this Item 5.03.

Item 8.01

Other Events.

On the Closing Date, the Company and Parent issued a joint press release announcing the completion of the Merger. A copy of such press release is attached hereto as Exhibit 99.1 and incorporated by reference into this Item 8.01.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.	Description	~~Description~~
99.1		Press Release, dated April 19, 2021.
2.1*	Agreement and Plan of Merger, dated as of February 9, 2021, by and among NIC Inc., Topos Acquisition, Inc. and Tyler Technologies, Inc. (incorporated by reference to Exhibit 2.1 to Current Report on Form 8-K filed with the SEC on February 10, 2021).
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)
3.1	Amended and Restated Certificate of Incorporation of NIC Inc.
3.2	Amended and Restated Bylaws of NIC Inc.
10.1	Separation of Employment Agreement, dated as of April 21, 2021, by and between Tyler Technologies, Inc. and Harry H Herington.
99.1	Press Release, dated April 21, 2021.

3* Schedules and similar attachments have been omitted pursuant to item 601(b)(2) of Regulation S-K. The Company hereby undertakes to furnish supplemental copies of any of the omitted schedules and similar attachments upon request by the SEC.

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.

	NIC INC.
Date: April 19, 2021	By:	/s/ Stephen M. Kovzan
Date: April 21, 2021	By:	/s/ Brian K. Miller
		Stephen M. Kovzan
		Brian K. Miller
		Chief Financial Officer
		Vice President and Treasurer

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