(State or other jurisdiction of
incorporation or organization)
(Commission file number)
(I.R.S. employer identification number)
701 North Haven Avenue, Ontario, California
(Address of principal executive offices)
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[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR230.425)
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Item 1.01 Entry into a Material Definitive Agreement
The Compensation Committee of the Board of Directors of CVB Financial Corporation (the Committee) approved the Discretionary Performance Compensation Plan for 2006. The Performance Plan provides for bonus compensation based on the achievement of certain performance goals. On January 19, 2007, the Committee met to review goals in the Performance Plan and determined that the goals were met. Based on the Performance Plan, the named executive officers of the CVB Financial Corporation will receive the following 2006 bonus amounts payable in February 2007 as follows:
Named Executive Officer Amount of 2006 Cash Bonus
Edward J. Biebrich, Jr. $ 106,000
Jay W. Coleman $ 106,000
Edward J. Mylett, Jr. $ 98,000
R. Scott Racusin $ 90,000
D. Linn Wiley $ 466,125
Mr. Myers joined the Company August 1, 2006 as Director and President, Chief Executive Officer upon the retirement of Mr. Wiley. Mr. Wiley remains on the board as Vice Chairman.
Item 2.02 Results of Operations and Financial Condition
On January 19, 2007, CVB Financial Corp. issued a press release setting forth its fourth quarter ending December 31, 2006 earnings. A copy of this press release is attached hereto as Exhibit 99.1, incorporated herein by reference. This press release includes certain non-GAAP financial measures. A reconciliation of these measures to the most comparable GAAP measures is included as part of Exhibit 99.1.
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.
CVB FINANCIAL CORP.
|Date: January 22, 2007||By: /s/ Edward J. Biebrich, Jr.|
Edward J. Biebrich, Jr.,
Executive Vice President and
Chief Financial Officer
99.1 Press Release, dated January 18, 2007