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): May 22, 2008
ECB BANCORP, INC.
(Exact name of registrant as specified in its charter)
| | | | |
| North Carolina | | 000-24753 | | 56-2090738 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
| | |
Post Office Box 337 Engelhard, North Carolina | | 27824 |
| (Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (252) 925-9411
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 with Certain officers. |
On May 22, 2008, our Compensation Committee approved the grant of awards under our 2008 Omnibus Equity Plan to our named executive officers as described in the following table:
| | | | | | | | | |
Name and Title | | Type of Award | | Number
of
Shares | | Option
Exercise
Price | | Other Terms |
| | | | |
Arthur H. Keeney III
Chief Executive Officer | | Restricted stock award | | 2,500 | | | N/A | | Vests on 03/31/09 |
| | | | |
J. Dorson White, Jr.
Executive Vice President and Chief Operating Officer | | Incentive stock option | | 3,000 | | $ | 24.50 | | Exercisable as to 1/3 of the shares each May 22, beginning 05/22/11 |
| | | | |
T. Olin Davis
Senior Vice President and Chief Credit Officer | | Incentive stock option | | 2,500 | | $ | 24.50 | | Exercisable as to 1/3 of the shares each May 22, beginning 05/22/11 |
| | | | |
Gary M. Adams
Chief Financial Officer | | Incentive stock option | | 600 | | $ | 24.50 | | Exercisable as to 1/3 of the shares each May 22, beginning 05/22/11 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, we have duly caused this Report to be signed on our behalf by the undersigned thereunto duly authorized.
| | | | |
| | ECB BANCORP, INC. |
| | (Registrant) |
| | |
| Date: May 29, 2008 | | By: | | /s/ Arthur H. Keeney III |
| | | | Arthur H. Keeney III |
| | | | Chief Executive Officer |
