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): September 15, 2010

 

CENTRAL VALLEY COMMUNITY BANCORP

(Exact Name of Registrant as Specified in Charter)

 

 

 

Registrant’s telephone number, including area code:  (559) 298-1775

 

(Former Name or Former Address, if Changed Since Last Report) Not Applicable

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 5.02 (e) Compensatory Arrangements of Certain Officers.

 

On September 15, 2010, the Executive and Directors Resource Committee (the Committee) of the Board of Directors of Central Valley Community Bancorp (Company) recommended to the Board of Directors (Board) and the Board approved the grant of options to all the directors and senior managers listed below.  The grant date of the options was September 15, 2010 and the options were granted at the fair market value on the grant date of $5.76 per share and will vest 20% per year over a five-year period.  The options granted will expire ten years from the date of grant.  Each recipient of an option grant will enter into a nonstatutory option agreement or an incentive stock option agreement, as the case may be, under the Company’s 2005 Omnibus Incentive Plan, a form of which is filed as Exhibit 99.1 to this Form 8-K.

 

		Options granted
		Nonstatutory		Incentive Stock Options
Daniel N. Cunningham, Chairman of the Board		5,000
Sidney B. Cox, Director		5,000
Edwin S. Darden, Jr., Director		5,000
Daniel J. Doyle, Director, President and CEO		—		5,000
Steven D. McDonald, Director		5,000
Louis McMurray, Director		5,000
William Smittcamp, Director		5,000
Joseph B. Weirick, Director		5,000
Gary Quisenberry, Senior Vice President, Commercial and Business Banking				2,500
Thomas L. Sommer, Senior Vice President, Credit Administrator				2,500
Lydia Shaw, Senior Vice President, Consumer and Retail Banking				2,500
David A. Kinross, Senior Vice President and CFO				2,500
Bryan R. Hyzdu, Senior Vice President, San Joaquin Region				2,500

 

Item 9.01 (d) EXHIBITS

 

99.1                           Form of Stock options award agreement for Central Valley Community Bancorp 2005 Omnibus Incentive Plan.

 

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.

 

		Central Valley Community Bancorp
Date: September 17, 2010		By:	/s/ Daniel J. Doyle
		Name: Daniel J. Doyle
		Title: President and Chief Executive Officer (principal executive officer)

 

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