8 K Restrictive Stock Grant 7 16 2014


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): July 16, 2014
 
CENTRAL VALLEY COMMUNITY BANCORP
(Exact Name of Registrant as Specified in Charter)
 
 
 
 
 
 
 
California
 
000-31977
 
77-0539125
(State or Other
Jurisdiction of Incorporation)
 
(Commission File Number)
 
(IRS Employer
Identification No.)
 
 
 
 
 
7100 N. Financial Dr., Suite 101, Fresno, CA
 
93720
(Address of Principal Executive Offices)
 
(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 1.01 Entry into a material definitive agreement.
 
On July 16, 2014, the Executive and Directors Resource Committee (the Committee) of the Board of Directors of Central Valley Community Bancorp (Company) recommended to the Board of Directors (Board), and the Board approved, the grant of restricted stock awards to all the directors and executives listed below.  A total of 31,000 shares of restricted stock were granted with a grant date of July 16, 2014. The closing market price of the Company’s common stock on the grant date was $12.95 per share. The restrictions will lapse annually at the rate of 20% per year over a five-year period, subject to 100% accelerated vesting upon a change of control of the Company. Each recipient of an award of restricted stock will enter into a restricted stock award agreement under the Company’s 2005 Omnibus Incentive Plan, a form of which is filed as Exhibit 99.1 to this Form 8-K.

 
 
 
Restricted Stock Award Granted
Daniel N. Cunningham, Chairman of the Board
 
3,000

Sidney B. Cox, Director
 
3,000

Edwin S. Darden, Jr., Director
 
3,000

Daniel J. Doyle, Director, President and CEO
 
3,000

Frank T. (“Tommy”) Elliott, IV, Director
 
3,000

Steven D. McDonald, Director
 
3,000

Louis C. McMurray, Director
 
3,000

William S. Smittcamp, Director
 
3,000

Joseph B. Weirick, Director
 
3,000

David A. Kinross, Executive Vice President and CFO
 
1,000

Gary Quisenberry, Executive Vice President, Commercial and Business Banking
 
1,000

Lydia Shaw, Executive Vice President, Consumer and Retail Banking
 
1,000

Thomas L. Sommer, Executive Vice President, Credit Administrator
 
1,000

Total
 
31,000

 
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The disclosures contained at Item 1.01 are hereby incorporated by reference.
 
Item 9.01 (d) EXHIBITS
 
99.1                           Form of Restrictive Stock Option Award Agreement for Central Valley Community Bancorp 2005 Omnibus Incentive Plan.
 
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.
 
 
 
 
 
 
 
 
Central Valley Community Bancorp
 
 
 
Date: July 18, 2014
 
By:
/s/ Daniel J. Doyle
 
 
Name: Daniel J. Doyle
 
 
Title: President and Chief Executive Officer (principal executive officer)