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): June 29, 2012
Eastern Virginia Bankshares, Inc.
(Exact name of registrant as specified in its charter)
| | | | |
| Virginia | | 000-23565 | | 54-1866052 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | | | |
| 330 Hospital Road, Tappahannock, Virginia | | 22560 |
| (Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (804) 443-8400
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 June 29, 2012 (the “Grant Date”), the executive officers of Eastern Virginia Bankshares, Inc. (the “Company”) received grants of TARP-compliant restricted stock under the Company’s 2007 Equity Compensation Plan (the “2007 Plan”) in the following amounts:
| | | | |
Executive | | Number of
shares of
restricted stock | |
Joe A. Shearin | | | 12,000 | |
Joseph H. James, Jr. | | | 6,000 | |
J. Adam Sothen | | | 4,000 | |
Douglas R. Taylor | | | 4,000 | |
James S. Thomas | | | 4,000 | |
Ann-Cabell Williams | | | 4,000 | |
The grants were approved by the Compensation Committee of the Company’s Board of Directors and, subject to earlier forfeiture or accelerated vesting under circumstances described in the award agreement, provide for time-based installment vesting over five years from the Grant Date. The grants are subject to the terms of the 2007 Plan and the terms of the award agreement, a form of which is filed herewith as Exhibit 10.13 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| | |
Exhibit
No. | | Description |
| |
| 10.13 | | Form of TARP-compliant Restricted Stock Agreement under Eastern Virginia Bankshares, Inc. 2007 Equity Compensation Plan |
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.
| | | | |
| | EASTERN VIRGINIA BANKSHARES, INC. |
| | |
| Date: July 6, 2012 | | | | |
| | |
| | By: | | /s/ J. Adam Sothen |
| | J. Adam Sothen |
| | Executive Vice President & Chief Financial Officer |
