plbc20150225_8k.htm

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):       February 27, 2015

 

Plumas Bancorp 

 


(Exact name of registrant as specified in its charter)

 

California 

 

000-49883

 

75-2987096

(State or other jurisdiction
of incorporation)

 

(Commission
File Number)

 

(I.R.S. Employer
Identification No.)

 

 

 

35 S. Lindan Avenue, Quincy, CA 

 

95971

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code       (530)283-7305

 

Not Applicable

 


Former name or former address, if changed since last report

 

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))

  


 

 
 

 

 

TABLE OF CONTENTS

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

   
   
 

 

SIGNATURES


  

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

2014 Executive Officer Bonus Payments

 

   During 2014, the Company established a non-equity incentive plan (the “2014 NEI”) for its officer level employees. Under the 2014 NEI, an allocation of 50% of pretax income in excess of budgeted pretax income is payable to eligible employees up to a maximum of $500,000 for all eligible employees, exclusive of the CEO. The CEO’s allocation is based on 10% of pretax income in excess of budgeted pretax income up to a maximum of $100,000. For 2014, the entire $600,000 was earned. No individual officer’s payments under the 2014 NEI exceeded $20,000 with the exception of Mr. Andrew J. Ryback, President and Chief Executive Officer of Plumas Bank and Plumas Bancorp. On February 27, 2015, a payment of $100,000 was made to Mr. Ryback.

 

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.

 

 

 

Plumas Bancorp
(Registrant)

 

 

 

 

 

February 27, 2015 

 

By: 

 

/s/  Richard L. Belstock

 

 

 

 


 

 

 

 

 

Name: Richard L. Belstock
Title: Chief Financial Officer