- Current report filing (8-K)
26 Februar 2009 - 10:47PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 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)
February 26, 2009
(February 20, 2009)
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Pennsylvania
Commerce Bancorp, Inc.
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(Exact
name of registrant as specified in its charter)
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Pennsylvania
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000-50961
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25-1834776
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(State
or other jurisdiction ofincorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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3801
Paxton Street, Harrisburg, Pennsylvania
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17111
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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
800-653-6104
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N/A
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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:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[
] 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 Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
February 20, 2009, the Board of Directors of Pennsylvania Commerce Bancorp, Inc.
(the “Company”) ratified the following items approved by the Company’s
Compensation Committee:
●
2008 cash bonus and stock option
grants for the Company’s Chief Executive Officer, Chief Financial Officer and
Named Executive Officers:
Name
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Title
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Cash
Bonus
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Stock
Options Grants
1
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Gary
L. Nalbandian
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Chairman,
President and Chief Executive Officer
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$0
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32,000
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Mark
A. Zody
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Executive
Vice President and Chief Financial Officer
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$25,000
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12,000
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Mark
A. Ritter
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Executive
Vice President and Chief Operating Officer
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$10,000
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7,000
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D.
Scott Huggins
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Senior
Vice President and Chief Risk Officer
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$10,000
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4,000
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James
R. Ridd
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Senior
Vice President and Chief Credit Officer
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$6,000
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3,500
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1
Grants made pursuant to the
Company’s 2006 Employee Stock Option Plan at an exercise price of $16.17, the
market price on the date of grant
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●
2009 Base Salaries for the Company’s
Chief Executive Officer, Chief Financial Officer and Named Executive
Officers:
Name
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Title
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Base
Salary
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Gary
L. Nalbandian
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Chairman,
President and Chief Executive Officer
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$495,000
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Mark
A. Zody
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Executive
Vice President and Chief Financial Officer
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$252,000
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Mark
A. Ritter
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Executive
Vice President and Chief Operating Officer
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$220,000
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D.
Scott Huggins
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Senior
Vice President and Chief Risk Officer
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$190,000
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James
R. Ridd
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Senior
Vice President and Chief Credit Officer
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$184,000
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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 hereunto
duly authorized.
Date: February
26, 2009
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PENNSYLVANIA
COMMERCE BANCORP, INC.
(Registrant)
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/s/
Mark A. Zody
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-----------------------------------------------
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Mark
A. Zody
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Chief
Financial Officer
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