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 23, 2007
CENTRAL VALLEY COMMUNITY BANCORP
(Exact Name of Registrant as Specified in Charter)
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California |
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000-31977 |
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77-0539125 |
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(State or Other |
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(Commission File Number) |
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(IRS Employer |
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600 Pollasky Avenue, Clovis, California |
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93612 |
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(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (559) 298-1775
(Former Name or Former Address, if Changed Since Last Report) Not Applicable
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 (e) Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On April 23, 2007, the Executive and Directors’ Resources Committee (Compensation Committee) of the Board of Directors of Central Valley Community Bancorp recommended to the Board of Directors (Board) and the Board approved the grant of options to all the directors and senior managers listed below. The grant date of the options was April 23, 2007 and the options were granted at the fair market value on the grant date of $14.69 per share and will vest 20% per year over a five-year period. The options granted will expire ten years from the date of grant. Each recipient of an option grant will enter into a nonstatutory option agreement or incentive stock option agreement, as the case may be, in the form identified in the exhibits to this filing.
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Options granted |
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Nonstatutory |
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Incentive Stock |
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Daniel N. Cunningham, Chairman of the Board |
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5,000 |
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Sidney B. Cox, Director |
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5,000 |
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Edwin S. Darden, Jr., Director |
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5,000 |
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Daniel J. Doyle, Director, President and CEO |
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— |
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5,000 |
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Steven D. McDonald, Director |
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5,000 |
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Louis McMurray, Director |
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5,000 |
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Wanda L. Rogers, Director |
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5,000 |
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William Smittcamp, Director |
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5,000 |
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Joseph B. Weirick, Director |
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5,000 |
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Gary Quisenberry, Senior Vice President and Commercial Business Banking |
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2,500 |
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Thomas L. Sommer, Senior Vice President, Credit Administrator |
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2,500 |
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Shirley Wilburn, Senior Vice President Consumer and Retail Banking |
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2,500 |
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David A. Kinross, Senior Vice President and Chief Financial Officer |
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2,500 |
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Item 9.01 (d) EXHIBITS
99.1 Form of agreement CENTRAL VALLEY COMMUNITY BANCORP INCENTIVE STOCK OPTION AGREEMENT
99.2 Form of agreement CENTRAL VALLEY COMMUNITY BANCORP NONSTATUTORY STOCK OPTION AGREEMENT
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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Central Valley Community Bancorp |
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Date: April 24, 2007 |
By: |
/s/ Daniel J. Doyle |
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Name: Daniel J. Doyle |
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Title: President and Chief Executive Officer (principal executive officer) |
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