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):
December 2
1
, 201
8
EMBASSY BANCORP, INC.
(Exact name of registrant as specified in its charter)
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Pennsylvania
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000-
53528
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26-3339011
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(State or other jurisdiction
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(Commission File Number)
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(IRS Employer
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of incorporation)
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Identification No.)
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100 Gateway Drive, Suite 100
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Bethlehem, PA
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18017
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code:
(610) 882-8800
Not Applicable
(Former name or former address, if changed since last report)
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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:
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☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02
Compensatory Arrangements of Certain Officers
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On
December 2
1
,
201
8
,
Embassy Bank for the Lehigh Valley (the “Bank”), the primary operating subsidiary of Embassy Bancorp, Inc. (the “Company”), entered into an amendment (the “Amendment”) to each of the supplemental executive retirement plan agreements between the Bank and Judith A. Hunsicker, Chief Financial Officer, and James R. Bartholomew,
Senior
Executive Vice President,
respectively, of the Company and the Bank. Additionally, in lieu of an increase in the amounts payable under his existing supplemental executive retirement plan agreements, the Company issued to David M. Lobach, Jr., Chairman, President and Chief Executive Officer of the Company and the Bank,
eight thousand eight hundred fifty
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five
(
8,855
)
shares of restricted stock pursuant to the Company’s 2010 Stock Incentive Plan, all as more fully described below.
Supplemental Retirement Plan Agreements
The Amendments provide solely for an increase in the amount of the annual benefit payable under the Agreements, as set forth in the table.
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Name
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Agreement
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Prior Annual Benefit
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New Annual Benefit
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Judith A. Hunsicker
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Supplemental Executive Retirement Plan Agreement dated December 23, 2015
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$
38,268
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$
61,013
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James R. Bartholomew
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Supplemental Executive Retirement Plan Agreement dated December 23, 2015
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$
24,198
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$
39,198
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The foregoing description of the Amendments is qualified in its entirety by reference to the actual Amendments filed herewith as Exhibits 10.1
and 10.2
, which are incorporated herein by reference. The material terms of the Agreements were previously described in Item 5.02 of the Company’s Current Report on Form 8-K filed on
December 29, 2015
, which description is incorporated herein by reference.
Grant of Restricted Stock
On December 2
1
, 201
8
, the Company issued to Mr. Lobach
eight thousand eight hundred fifty
-
five (8,855)
shares of restricted stock pursuant to the Company’s 2010 Stock Incentive Plan. On December 2
1
, 201
8
, the shares had an aggregate fair market value
of
$133,666.23
. The shares were issued in lieu of a periodic increase in the benefits payable under the existing supplemental executive retirement plan agreements between the Bank and Mr. Lobach.
Item 9.01.
Financial Statements and Exhibits.
(d)
Exhibits
Exhibit No
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Description
10.1
Amendment No.
3
to Supplemental Executive Retirement Plan Agreement between Embassy Bank for the Lehigh Valley and Judith A.
Hunsicker
dated
December 2
1
, 201
8
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10.2
Amendment No.
3
to Supplemental Executive Retirement Plan Agreement between Embassy Bank for the Lehigh Valley and James R.
Bartholomew
dated
December 2
1
, 201
8
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SIGNATURE
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.
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Embassy Bancorp, Inc.
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Date: December 2
1
, 201
8
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By:
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/s / Judith A. Hunsicker
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Name:
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Judith A. Hunsicker
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Title:
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First Executive Officer
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Chief Operating and Financial Officer
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EXHIBIT INDEX
Exhibit No.
Description
10.1
Amendment No.
3
to Supplemental Executive Retirement Plan Agreement between Embassy Bank for the Lehigh Valley and Judith
A.
Hunsicker
dated December 2
1
, 201
8
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10.2
Amendment No.
3
to Supplemental Executive Retirement Plan Agreement between Embassy Bank for the Lehigh Valley and James R.
Bartholomew
dated December 2
1
, 201
8
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