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): November 16, 2021
Oak Valley Bancorp
(Exact name of Registrant as Specified in its Charter)
| California | | 001-34142 | | 26-2326676 |
(State or Other Jurisdiction of
Incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification
Number) |
125 N. Third Ave.
Oakdale, CA 95361
(Address of Principal Executive Offices including Zip Code)
(209) 848-2265
(Registrant’s Telephone Number, including Area Code)
Not Applicable
(Former Name or Former Address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | OVLY | The Nasdaq Stock Market, LLC |
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))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
| (c) | Appointment of Richard A. McCarty to as President and Chief Operating Officer |
On November 16, 2021, the Board of Directors (the “Board”) of Oak Valley Bancorp (the “Company”) appointed Richard A. McCarty as President and Chief Operating Officer effective on January 1, 2022. Mr. McCarty, age 50, has held his current position of Senior Executive Vice President and Chief Operating Officer since 2017. Mr. McCarty previously held the positions of Chief Administrative Officer from 2008 to 2017, and Chief Financial Officer from 2000 to 2016. The title of President is currently held by Christopher M. Courtney, President and Chief Executive Officer, whose title will change to Chief Executive Officer effective on January 1, 2022.
There are no arrangements or understandings between Mr. McCarty and any other person, pursuant to which Mr. McCarty was appointed as the President. In connection with the foregoing, no material plan, contract or arrangement between the Company and Mr. McCarty have been entered into or materially amended, and the employment agreement dated March 19, 2021 between the Company and Mr. McCarty, a copy of which is filed as exhibit 10.4 to the annual report on Form 10-K filed on March 31, 2021 and incorporated herein by reference, remains in effect.
Further information about Mr. McCarty’s appointment is contained in the press release issued by the Company, a copy of which is attached hereto as exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number | | Exhibit Title or Description |
| | | |
| 99.1 | | |
| 104 | | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
| | OAK VALLEY BANCORP |
| | | |
| | | |
| Date: November 19, 2021 | By: | /s/ Jeffrey A. Gall |
| | | Jeffrey A. Gall Senior Vice President and Chief Financial Officer |
