Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 19, 2020
Preferred Bank
(Exact name of registrant as specified in its charter)
California
33539
95-4340199
(State or other jurisdiction
(FDIC Certificate No.)
(I.R.S. Employee
of incorporation or organization)
Identification No.)
601 S. Figueroa Street, 48th Floor, Los Angeles, California
90017
(Address of principal executive offices)
(Zip code)
(213) 891-1188
(Registrant's telephone number including area code)
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 obligations 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))
70034301.1
Item 8.01 Other Events.
Preferred Bank (the "Bank") announced today that Li Yu, Chairman and Chief Executive Officer of the Bank, entered into a pre-arranged stock trading plan (the "10b5-1 Plan") to sell a limited amount of the Bank's shares of common stock, no par value, for personal financial management purposes. The 10b5-1 Plan is designed to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the Bank's insider trading policies regarding stock transactions.
The 10b5-1 Plan allows for the sale of a maximum of 80,000 shares of common stock over the life of the Plan. The 10b5-1 Plan provides for sales of specified daily share amounts at market price, subject to certain limitations including a specified minimum market price. Subject to such minimum market price limits, sales pursuant to the 10b5-1 Plan are expected to begin as early as February 19, 2020, and end once all designated shares are sold. The 10b5-1 Plan may terminate sooner in accordance with its terms.
Transactions made under the 10b5-1 Plan will be disclosed publicly through Form 4 filings with the Federal Deposit Insurance Corporation. Except as may be required by law, the Bank does not undertake to report on specific Rule 10b5-1pre-planned stock trading plans of Bank officers, nor to report modifications or terminations of the aforementioned 10b5-1 Plan or the Plan of any other individual.
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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 thereunto duly authorized.
Preferred Bank
Dated: February 19, 2020
By: /s/ Edward J. Czajka
Edward J. Czajka
Executive Vice President
Chief Financial Officer
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Preferred Bank published this content on 19 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2020 08:16:03 UTC
Preferred Bank is an independent commercial bank focusing primarily on the California market. The Bank provides a range of financial services. The Bank offers a range of deposit and loan products and services to both commercial and consumer customers. The Bank provides personalized deposit services as well as real estate finance, commercial loans and trade finance to small and mid-sized businesses, entrepreneurs, real estate developers, professionals, and high net worth individuals. The Bank conducts its banking business from its main office in Los Angeles, California, and through 11 full-service branch banking offices in California (Alhambra, Century City, City of Industry, Torrance, Arcadia, Irvine, Diamond Bar, Pico Rivera, Tarzana, and San Francisco) and one branch in Flushing, New York. In addition, the Bank operates a loan production office in the Houston, Texas suburb of Sugar Land. Its business activities come from the mainstream markets of Southern and Northern California.
PREFERRED BANK 
