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CVCY > SEC Filings for CVCY > Form 8-K on 18-Jul-2014All Recent SEC Filings




Entry into a Material Definitive Agreement, Change in Directors

Item 1.01 Entry into a material definitive agreement.

On July 16, 2014, the Executive and Directors Resource Committee (the Committee) of the Board of Directors of Central Valley Community Bancorp (Company) recommended to the Board of Directors (Board), and the Board approved, the grant of restricted stock awards to all the directors and executives listed below. A total of 31,000 shares of restricted stock were granted with a grant date of July 16, 2014. The closing market price of the Company's common stock on the grant date was $12.95 per share. The restrictions will lapse annually at the rate of 20% per year over a five-year period, subject to 100% accelerated vesting upon a change of control of the Company. Each recipient of an award of restricted stock will enter into a restricted stock award agreement under the Company's 2005 Omnibus Incentive Plan, a form of which is filed as Exhibit 99.1 to this Form 8-K.

                                                                        Award Granted
Daniel N. Cunningham, Chairman of the Board                                    3,000
Sidney B. Cox, Director                                                        3,000
Edwin S. Darden, Jr., Director                                                 3,000
Daniel J. Doyle, Director, President and CEO                                   3,000
Frank T. ("Tommy") Elliott, IV, Director                                       3,000
Steven D. McDonald, Director                                                   3,000
Louis C. McMurray, Director                                                    3,000
William S. Smittcamp, Director                                                 3,000
Joseph B. Weirick, Director                                                    3,000
David A. Kinross, Executive Vice President and CFO                             1,000
Gary Quisenberry, Executive Vice President, Commercial and Business
Banking                                                                        1,000
Lydia Shaw, Executive Vice President, Consumer and Retail Banking              1,000
Thomas L. Sommer, Executive Vice President, Credit Administrator               1,000
Total                                                                         31,000

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

The disclosures contained at Item 1.01 are hereby incorporated by reference.

Item 9.01 (d) EXHIBITS

99.1 Form of Restrictive Stock Option Award Agreement for Central Valley Community Bancorp 2005 Omnibus Incentive Plan.

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.

Central Valley Community Bancorp

Date: July 18, 2014 By: /s/ Daniel J. Doyle Name: Daniel J. Doyle Title: President and Chief Executive Officer

(principal executive officer)

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