Eagle Bancorp Inc - Current report filing (8-K)
January 23 2008 - 3:44PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):
January 16,
2008
Eagle Bancorp, Inc.
(Exact
name of registrant as specified in its charter)
Maryland
|
|
0-25923
|
|
52-2061461
|
(State or other jurisdiction
of incorporation)
|
|
(Commission file number)
|
|
(IRS Employer
Number)
|
7815 Woodmont Avenue, Bethesda,
Maryland 20814
(Address
of Principal Executive Offices) (Zip Code)
Registrants
telephone number, including area code:
301.986.1800
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 (See General Instruction A.2. below):
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 5.02.
Departure of Directors or Principal Officers;
Election of Directors; Appointment of Principal Officers Compensatory
Arrangements of Certain Officers
(e)
On
January 16, 2006, the Compensation Committee of the Board of Directors of
Eagle Bancorp, Inc. (the Company) authorized the payment of the annual
cash bonuses, and the award of options under the Companys 2006 Stock Plan, to
the Companys named executive officers, as set forth in the table below. The committee also authorized increases in
base compensation of 3% - 5% to the amounts set forth below, effective January 1,
2008, for each named executive officer except Mr. Paul, whose base salary
is unchanged.
Name
|
|
Title
|
|
Cash Bonus
|
|
Options
Awarded
|
|
Base Salary
|
|
Michael T. Flynn
|
|
President District of
Columbia Region
|
|
$
|
5,000
|
|
3,000
|
|
$
|
243,101
|
|
Martha
Foulon-Tonat
|
|
EVP & Chief
Lending Officer
|
|
$
|
12,500
|
|
4,500
|
|
$
|
243,101
|
|
James H.
Langmead
|
|
EVP and CFO
|
|
$
|
20,000
|
|
5,000
|
|
$
|
243,101
|
|
Thomas D. Murphy
|
|
President Montgomery
County Region
|
|
$
|
12,500
|
|
4,000
|
|
$
|
243,101
|
|
Susan G. Riel
|
|
EVP & COO -
EagleBank
|
|
$
|
27,500
|
|
5,000
|
|
$
|
243,101
|
|
Ronald D. Paul
|
|
President &
CEO
|
|
|
|
25,000
|
|
$
|
350,000
|
|
The
Board of Directors also approved on January 16, 2008, the award of an
aggregate of 21,500 options to purchase common stock to Mr. Paul in his
capacity as a director and to the non-employee directors of the Company other
than Mr. Abel, as set forth in the table below, and an additional 12,500
options to the ten non-employee directors who serve only on the Board of
Directors of EagleBank.
Name
|
|
Options Awarded
|
|
Leslie
Alperstein
|
|
2,000
|
|
Dudley Dworken
|
|
3,250
|
|
Harvey Goodman
|
|
3,250
|
|
Philip Margolius
|
|
3,250
|
|
Ronald D. Paul
|
|
3,250
|
|
Donald Rogers
|
|
3,250
|
|
Leland Weinstein
|
|
3,250
|
|
All
options granted to named executive officers and directors have an exercise price
of $13.0543 per share, and are subject to the terms of the 2006 Stock Plan.
Options granted to the Companys named executive officers have a ten year term
from the date of grant, and options granted to Mr. Paul in his capacity as a
director and to directors have a five year term from the date of grant. All options, other than those granted to Mr. Paul
as a named executive officer, vest in three installments, commencing on the
date of grant. Mr. Pauls options vest as follows: 4,167 in 2013; 7,660 in 2014; 7,660 in 2015,
and 5,513 in 2016.
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.
|
EAGLE
BANCORP, INC.
|
|
|
|
|
|
|
|
By:
|
/s/
Ronald D. Paul
|
|
|
|
Ronald D. Paul,
President, Chief Executive
|
|
|
Officer
|
|
|
|
Dated:
January 23, 2008
|
|
|
2
Eagle Bancorp (NASDAQ:EGBN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Eagle Bancorp (NASDAQ:EGBN)
Historical Stock Chart
From Jul 2023 to Jul 2024