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): April 6, 2007
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SIERRA
HEALTH SERVICES, INC.
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____________________________________________
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(Exact
name of registrant as specified in its charter)
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Nevada
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1-8865
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88-0200415
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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2724
North Tenaya Way
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Las
Vegas, Nevada 89128
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(Address
of principal executive offices including zip code)
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(702)
242-7000
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(Registrant's
telephone number, including area code)
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Not
Applicable
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(Former
name or former address, if changed since last report)
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____________________________________________________
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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):
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[
]
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))
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Item
1.01 Entry into a Material Definitive Agreement
Item
5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
Paul
H.
Palmer, senior vice president, chief financial officer and treasurer of Sierra
Health Services, Inc. stepped down from his current positions effective April
6,
2007. Mr. Palmer will remain with the company until his retirement on May
4, 2007. Mr. Palmer's intention to retire was announced on August 16,
2006.
Mr.
Palmer has been succeeded by Marc R. Briggs, the Company’s vice president of
finance and chief accounting officer. Mr. Briggs, 37, was named senior
vice president, chief financial officer and treasurer, effective April 6, 2007.
He joined Sierra in 2000 as assistant corporate controller, becoming corporate
controller in 2005. He was appointed vice president of finance and chief
accounting officer in 2006. Mr. Briggs is a Certified Public Accountant and
earned his bachelor's degree in accounting from the University of Utah and
an
M.B.A. from the University of Nevada Las Vegas.
The
Compensation Committee of the Board of Directors of
the
Company
has
approved an amended employment agreement with Mr. Briggs that expires on
December 31, 2009. The amended agreement provides for a base annual salary
of
$250,000, contains provisions for payment of two years’ salary and targeted
bonus upon a termination of employment or other events following a change in
control, and otherwise provides for payment of six months’ severance and other
normal separation compensation and benefits upon a termination of employment.
Mr. Briggs is eligible for employee fringe benefit programs, bonus plans, and
stock option plans as are made available to other employees of the Company
at
the same organizational level, and as approved by the Company’s Board of
Directors. The amended agreement has been filed as an exhibit to this Current
Report on Form 8-K.
Item
9.01 Financial Statements and Exhibits
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Exhibits
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Description
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10.1
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Employment
Agreement, between Sierra Health Services, Inc., a Nevada corporation,
and
Marc R. Briggs, effective as of April 6,
2007.
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SIGNATURES
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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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SIERRA
HEALTH SERVICES, INC.
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(Registrant)
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Date:
April 11, 2007
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/S/
FRANK E. COLLINS
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Frank
E. Collins
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Senior
Executive Vice President,
Legal
& Administration, and Secretary
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