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):January 25, 2007
PROVIDENT FINANCIAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware | 000-28304 | 33-0704889 |
(State or other jurisdiction | (Commission | (I.R.S. Employer |
3756 Central Avenue, Riverside, California | 92506 |
(Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code:(951) 686-6060
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 | ||
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
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Item 1.01 Entry into a Material Definitive Agreement.
The information included in Item 5.02 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01 of this Current Report on Form 8-K.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
(c) On January 23, 2007, Provident Savings Bank, F.S.B. ("Bank"), the wholly owned subsidiary of Provident Financial Holdings, Inc. ("Corporation"), appointed Donavon P. Ternes to the position of Executive Vice President. Mr. Ternes will continue to serve as the Chief Financial Officer and Corporate Secretary of the Corporation and Bank.
Mr. Ternes' compensation arrangement with the Bank provides that he will be entitled to an annual base salary of $210,000 and eligible to receive an annual bonus with a baseline target of 38% of his annual base salary. Mr. Ternes' other compensation and benefit arrangements remain unchanged except for those that are calculated in accordance with Mr. Ternes' new base salary, which the Company, for the purposes of this disclosure, has deemed immaterial.
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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: January 25, 2007 | PROVIDENT FINANCIAL HOLDINGS, INC. |
| /s/ Craig G. Blunden | |
| Craig G. Blunden | |
| Chairman, President & CEO. | |
| (Principal Executive Officer) |
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