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): October 11, 2007
FIRSTCITY FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware |
| 033-19694 |
| 76-0243729 |
(State of incorporation) |
| (Commission File No.) |
| (IRS Employer Identification No.) |
6400 Imperial Drive
Waco, Texas 76712
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (254) 761-2800
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 1 - Registrant’s Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
On October 11, 2007, the Compensation Committee of the Registrant granted incentive stock options to certain of the executive officers of the Registrant under the FirstCity Financial Corporation 2006 Stock Option and Award Plan (the “2006 Plan”). Each option granted under the 2006 Plan is required to be set forth in writing pursuant to the form of option agreement required by the Plan. The form of option award agreement for non-employee directors under the 2006 Plan is included as Exhibit 10.1 to this Report and is incorporated herein by reference. The form of option award agreement under the 2006 Plan for employees, including employee directors, is included as Exhibit 10.2 to this Report and is incorporated herein by reference.
The options received by the executive officers listed below have a Grant Date of October 11, 2007, will vest in equal parts over four years beginning on October 11, 2008, will terminate upon the expiration of ten years from the Grant Date, and have an exercise price of $9.85, the closing price of the common stock of FirstCity Financial Corporation on the Grant Date.
Each of the following executive officers was granted an option to purchase the number of shares of the Registrant’s common stock under the 2006 Plan as is set forth for that executive officer:
2006 Stock Option and Award Plan
Employee |
| Number of Shares |
|
|
|
|
|
J. Bryan Baker |
| 8,000 |
|
Terry R. DeWitt |
| 8,000 |
|
Joe S. Greak |
| 8,000 |
|
James C. Holmes |
| 8,000 |
|
Richard Vander Woude |
| 8,000 |
|
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1* Form of Option Award Agreement for Non-Employee Directors under the FirstCity Financial Corporation 2006 Stock Option and Award Plan.
10.2* Form of Option Award Agreement for Employees under the FirstCity Financial Corporation 2006 Stock Option and Award Plan.
10.3 2006 Stock Option and Award Plan (incorporated herein by reference to Appendix A of the Company’s Schedule 14A, Definitive Proxy Statement, dated June 26, 2006).
* Filed herewith
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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.
| FIRSTCITY FINANCIAL CORPORATION | ||
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Date: October 17, 2007 | By: | /s/ J. Bryan Baker |
|
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| J. Bryan Baker | |
|
| Senior Vice President and Chief Financial Officer |
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EXHIBIT INDEX
10.1* Form of Option Award Agreement for Non-Employee Directors under the FirstCity Financial Corporation 2006 Stock Option and Award Plan.
10.2* Form of Option Award Agreement for Employees under the FirstCity Financial Corporation 2006 Stock Option and Award Plan.
10.3 2006 Stock Option and Award Plan (incorporated herein by reference to Appendix A of the Company’s Schedule 14A, Definitive Proxy Statement, dated June 26, 2006).
* Filed herewith
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