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CUNB > SEC Filings for CUNB > Form 8-K on 7-Feb-2014All Recent SEC Filings

Show all filings for CU BANCORP

Form 8-K for CU BANCORP


Change in Directors or Principal Officers, Financial Statements and Exhibits

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:

                                                                             Amount of Cash
Name               Position                                                    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:

                                                                 Amount of Shares        Per Share Value of        Aggregate Value
                                                                    of Common               Common Stock              of Common
                                                                 Stock Subject to            Subject to            Stock Subject to
                                                                 Restricted Stock         Restricted Stock         Restricted Stock
Name                                Position                          Award                    Award                    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.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 2013 California United Bank Executive Performance Cash Incentive Plan

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