UNITED STATES SECURITIES AND EXCHANGE COMMISSION
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 23, 2005
YARDVILLE NATIONAL BANCORP
NEW JERSEY | 0-26086 | 22-2670267 | |||||||||
(State or Other Jurisdiction of | (Commission File Number) | (I.R.S. Employer | |||||||||
Incorporation or Organization) | Identification Number) |
2465 KUSER ROAD, HAMILTON, NEW JERSEY 08690
(609) 585-5100
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 1.01 Entry into a Material Definitive Agreement.
On February 23, 2005, Registrant’s Board of Directors, following the actions of its Organization and Compensation Committee, approved bonus compensation for 2004 and base salary increases for the executive officers named below, and the following table sets forth opposite the names of such executive officers, the amounts of the bonus compensation and the new annual base salaries, which will be effective retroactively to January 28, 2005:
Executive Officer | 2004 Bonus | Annual Base Salary | ||||||
Patrick M. Ryan President & CEO | $ | 277,869 | $ | 460,000 | ||||
Jay G. Destribats Chairman of the Board | $ | 185,246 | $ | 270,000 | (1) | |||
F. Kevin Tylus SEVP/Chief Operating Officer | $ | 46,312 | $ | 315,000 | ||||
Stephen F. Carman EVP/Chief Financial Officer | $ | 35,000 | $ | 202,000 | ||||
Timothy J. Losch EVP/Chief Market Dev. & Community Relations Officer | $ | 27,500 | $ | 178,000 | ||||
Stephen R. Walker EVP/Chief Information Officer | $ | 27,500 | $ | 178,000 |
(1) | Mr. Destribats’s annual base salary was not increased. |
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.
YARDVILLE NATIONAL BANCORP | ||||
Date: February 28, 2005 | By: | Stephen F. Carman Stephen F. Carman Vice President and Treasurer |