Attached files
| file | filename |
|---|---|
| EX-99.1 - EX-99.1 - CU Bancorp | d673272dex991.htm |
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): February 3, 2014
CU BANCORP
(Exact name of registrant as specified in its charter)
| California | 001-35683 | 90-0779788 | ||
| (State or other jurisdiction of incorporation) |
Commission File Number |
(I.R.S. Employer Identification No.) | ||
| 15821 Ventura Boulevard, Suite 100- Encino, CA | 91436 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (818) 257-7700
(Former name or former address, if change since last report)
Check the appropriate box below if the Form 8-K filing is 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.
Cash Incentives Pursuant to Plan
On February 3, 2014, the CU Bancorp Compensation, Nominating and Corporate Governance Committee (“Compensation Committee”) awarded cash incentives to named executive officers that will be paid during March 2014. The awards were made pursuant to the 2013 California United Bank Executive Performance Cash Incentive Plan, which provides guidelines for eligibility for and amount of awards based on a combination of Company performance and individual achievement, target categories and discretionary components. Awards are subject to the Compensation Committee’s discretion.
The cash incentives granted are as follows:
| Name |
Position |
Amount of Cash Incentive |
||||
| Anne A. Williams | Executive Vice President, Chief Operating Officer, Chief Credit Officer | $ | 120,000.00 | |||
| Karen Schoenbaum | Executive Vice President, Chief Financial Officer | $ | 92,000.00 | |||
| Anita Y. Wolman | Executive Vice President, Chief Administrative Officer, General Counsel, Corporate Secretary | $ | 100,000.00 | |||
Restricted Stock Award
On February 3, 2014, the Compensation, Nominating and Corporate Governance Committee of the Board of Directors (the “Compensation Committee”) of CU Bancorp (the “Company”) made a bonus restricted stock award of the Company’s common stock pursuant to the Company’s 2007 Equity and Incentive Plan to the following named executive officer in lieu of payments under the Cash Incentive Plan:
| Name |
Position | Amount of Shares of Common Stock Subject to Restricted Stock Award |
Per Share Value of Common Stock Subject to Restricted Stock Award |
Aggregate Value of Common Stock Subject to Restricted Stock Award | ||||
| David I. Rainer |
Chairman, Chief Executive Officer, President |
13,000 shares | $17.27 | $224,510.00 |
The restricted stock vests on December 15, 2014.
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Item 9.01 Financial Statements and Exhibits
| (d) | Exhibits |
| 99.1 | 2013 California United Bank Executive Performance Cash Incentive Plan | |
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SIGNATURE
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.
| CU Bancorp | ||||||
| Dated: February 7, 2014 | By: | /s/ Anita Y. Wolman | ||||
| Anita Y. Wolman | ||||||
| Executive Vice President and General Counsel | ||||||
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Exhibit Index
| Exhibit No. |
Description | |
| 99.1 | 2013 California United Bank Executive Performance Cash Incentive Plan | |
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