UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 24, 2013
JACKSONVILLE BANCORP, INC.
(Exact name of registrant as specified in its charter)
| Florida | 000-30248 | 59-3472981 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
| 100 North Laura Street, Suite 1000 | ||
| Jacksonville, FL | 32202 | |
| (Address of principal executive offices) | (Zip Code) |
(904) 421-3040
(Registrant’s telephone number, including area code)
(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 (see General Instruction A.2. below):
| ¨ | 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
As previously disclosed by Jacksonville Bancorp, Inc. (the “Company”), under the executive employment agreement dated July 30, 2012, as amended on December 31, 2012, for Stephen C. Green, the Company’s former President and Chief Executive Officer, and as a result of the closing of the Company’s private placement in December 2012, Mr. Green was entitled to an option award for the purchase of 2 million shares of the Company’s common stock. Under the employment agreement, the option award would have vested over a two-year period after the grant date. Effective June 24, 2013, Mr. Green was granted an option to purchase 2 million shares of the Company’s common stock at a purchase price of $0.50 per share, which was fully vested upon the date of grant. As a result of Mr. Green’s resignation as President and Chief Executive Officer on June 24, 2013, the option to purchase common stock will be cancelled unless it is exercised on or before September 22, 2013, 90 days after Mr. Green’s resignation.
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.
| JACKSONVILLE BANCORP, INC. | ||
| By: | /s/ Valerie A. Kendall | |
| Name: | Valerie A. Kendall | |
| Title: | Executive Vice President and Chief Financial Officer | |
| Date: | July 31, 2013 | |