PRIME MERIDIAN HOLDING COMPANY Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
The amendment to the 2015 Plan authorizes the plan administrator to establish,
on a case-by-case basis, restricted stock award terms to permit any form of
vesting upon termination of the grantee's employment. The Board of Directors
believes this will enable PMHG to retain and recruit management by being able to
offer more flexibly structured restricted stock awards. In connection with this
amendment, PMHG also amended President, Chief Executive Officer, and Vice
Chair's
The amendment to the Directors' Plan provides that grantees will: (i) receive any dividends paid on shares of PMHG common stock held in the Directors' Plan and; (ii) be permitted to vote such shares on any matters coming before PMHG's shareholders. PMHG also adopted non-substantive amendments to the Directors' Plan relating to plan administration.
The foregoing summary of such amendments and agreements does not purport to be complete and is qualified in its entirety by reference to the agreements and amendments, which are attached as exhibits to this Form 8-K and which are incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
10.1 Amended and Restated 2015 Stock Incentive Compensation Plan, dated as
of
10.2 Amendment to Restricted Stock Awards for
10.3 Amended and Restated Directors' Compensation Plan, dated as of
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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