Attached files
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| EX-10.1 - EXHIBIT 10.1 - PRUDENTIAL BANCORP, INC. | exh101.htm |
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported)
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November 13, 2015
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Prudential Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
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Pennsylvania
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000-55084
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46-2935427
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(State or other jurisdiction
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(Commission File Number)
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(IRS Employer
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of incorporation)
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Identification No.)
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1834 West Oregon Avenue, Philadelphia, Pennsylvania
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19145
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(Address of principal executive offices)
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(Zip Code)
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Registrant's telephone number, including area code
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(215) 755-1500
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Not Applicable
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(Former name or former address, if changed since last report)
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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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Not applicable.
(e) Effective as of November 13, 2015, Jack E. Rothkopf, the Senior Vice President, Chief Financial Officer and Treasurer of Prudential Savings Bank (the "Bank"), the wholly owned subsidiary of Prudential Bancorp, Inc. (the "Company"), and the Company, agreed to voluntarily reduce his annual base salary by 10% for a period of one year commencing December 1, 2015 as part of an expense reduction plan that senior management of the Company has developed and is being implemented in light of the Company's recent core operating results and management's and the Board's commitment to return the Company to its historical level of profitability. Such reduction is reflected in Amendment No. 1 (the "Amendment") to Mr. Rothkopf's amended and restated employment agreement (the "Amended Employment Agreement") dated June 17, 2015. The Amendment was approved by the Compensation Committee of the Board of Directors of the Bank. No other changes were made to the Amended Employment Agreement.
The foregoing description is qualified in its entirety by reference to the Amendment to the Amended Employment Agreement, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
(f) Not applicable.
Item 9.01 Financial Statements and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
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(d) Exhibits
The following exhibit is included herewith.
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Exhibit Number
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Description
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10.1
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Amendment No. 1 dated as of November 13, 2015 to the Amended and Restated Employment Agreement between Prudential Savings Bank and Jack E. Rothkopf dated June 17, 2015
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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 thereunto duly authorized.
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PRUDENTIAL BANCORP, INC.
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Date: November 17, 2015
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By:
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/s/Jack E. Rothkopf
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Jack E. Rothkopf
Senior Vice President, Chief Financial
Officer and Treasurer
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4
INDEX TO EXHIBITS
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Exhibit Number
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Description
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10.1
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Amendment No. 1 dated as of November 13, 2015 to the Amended and Restated Employment Agreement between Prudential Savings Bank and Jack E. Rothkopf dated June 17, 2015
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