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BUSE > SEC Filings for BUSE > Form 8-K on 2-Jan-2014All Recent SEC Filings

Show all filings for FIRST BUSEY CORP /NV/



Change in Directors or Principal Officers

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

On January 1, 2014, on the recommendation of its Nominating and Corporate Governance Committee, the board of directors (the "Board") of First Busey Corporation (the "Company") increased the number of directors constituting the full Board from ten to eleven and appointed Dr. Phyllis M. Wise as a director to fill the resultant vacancy, with such appointment effective immediately. Dr. Wise's term will expire at the 2014 annual meeting of stockholders. Dr. Wise, who holds a bachelor's degree in biology from Swarthmore College and a doctorate degree in zoology from the University of Michigan, has served as Chancellor of the University of Illinois at its Urbana-Champaign campus and Vice President of the University of Illinois since 2011. She holds memberships in the American Academy of Arts and Sciences and the Institute of Medicine of the National Academies and is a fellow in the American Association for the Advancement of Science. Dr. Wise has also served on the board of directors of Nike, Inc. since 2009. The Board has not yet determined to which committees of the Board, if any, Dr. Wise will be appointed to serve.

Dr. Wise does not have a direct or indirect material interest in any transaction with the Company or Busey Bank, the Company's wholly-owned subsidiary, required to be disclosed pursuant to Item 404(a) of Regulation S-K. There is also no arrangement or understanding between Dr. Wise and any other person pursuant to which Dr. Wise was selected as a director.

As with each of the Company's other non-employee directors, Dr. Wise will be entitled to receive a base retainer of $20,000 per year, as well as a grant of restricted stock units.

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