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 10, 2011

 

 

IBERIABANK CORPORATION

(Exact name of Registrant as Specified in Charter)

 

 

 

Louisiana   0-25756   72-1280718

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

200 West Congress Street, Lafayette, Louisiana 70501
(Address of Principal Executive Offices)

(337) 521-4003

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:

 

¨ 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))

 

 

 


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

On March 10, 2011, the Compensation Committee increased the annual salaries of the named executive officers as follows: Daryl G. Byrd, President and Chief Executive Officer — $820,000; Anthony J. Restel, Senior Executive Vice President and Chief Financial Officer — $395,000; Michael J. Brown, Vice Chairman and Chief Operating Officer — $530,000; John R. Davis, Senior Executive Vice President – Mergers and Acquisitions/Finance Investor Relations — $413,000; and Jefferson G. Parker, Vice Chairman and Managing Director of Brokerage, Trust and Wealth Management— $420,000. The salary increases are effective on March 21, 2011.

The Compensation Committee awarded discretionary bonuses to the named executive officers as follows: Mr. Byrd — $500,000; Mr. Restel — $200,000; Mr. Brown — $250,000; Mr. Davis — $200,000; and Mr. Parker — $200,000.

The Compensation Committee granted restricted stock awards to the named executive officers as follows:

 

Name

   Number of Shares or
Units of Stock
     Grant Date Fair
Value  of Awards
 

Daryl G. Byrd

     13,929       $ 775,000   

Anthony J. Restel

     4,152       $ 231,000   

Michael J. Brown

     4,718       $ 262,500   

John R. Davis

     4,152       $ 231,000   

Jefferson G. Parker

     3,460       $ 192,500   

The shares of restricted stock vest over five years in equal increments on the anniversary of the date of grant.

The Compensation Committee granted phantom stock awards to the named executive officers as follows:

 

Name

   Number of Shares or
Units of Stock
     Phantom Stock  Award
(Value)
 

Daryl G. Byrd

     6,964       $ 387,500   

Anthony J. Restel

     1,730       $ 96,250   

Michael J. Brown

     2,359       $ 131,250   

John R. Davis

     1,730       $ 96,250   

Jefferson G. Parker

     1,730       $ 96,250   


The value of the shares on the date of each of the awards was $55.64 per share. The phantom shares vest over five years in 25% increments commencing on the second anniversary of the date of grant.

The Compensation Committee granted stock options to the named executive officers as follows:

 

Name

   Number of
Shares
Underlying
Options
     Exercise
Price of
Option
Awards
 

Daryl G. Byrd

     23,585       $ 55.64   

Anthony J. Restel

     3,515       $ 55.64   

Michael J. Brown

     7,988       $ 55.64   

John R. Davis

     3,515       $ 55.64   

Jefferson G. Parker

     5,858       $ 55.64   

The stock options vest over five years in equal increments on the anniversary of the date of the grants.


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.

 

  IBERIABANK CORPORATION
DATE: March 16, 2011   By:  

/s/ Daryl G. Byrd

    Daryl G. Byrd
    President and Chief Executive Officer