UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
December 1, 2004
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(Date of earliest event reported)
Date of Report
Access National Corporation
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(Exact name of registrant as specified in its charter)
Virginia 000-49929 82-0545425
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1800 Robert Fulton Drive, Suite 300, Reston, VA 20191
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(Address of principal executive offices) (Zip Code)
(703) 871-2100
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(Registrant's telephone number, including area code)
n/a
(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 (see General Instruction A.2. below):
|_| 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))
Item 1.02 Termination of a Material Definitive Agreement
As previously announced, Michael Rebibo, former President of Access
National Mortgage Corporation and Senior Vice President of Access National Bank,
ceased employment with Access National Mortgage Corporation and Access National
Bank as of December 1, 2004. Mr. Rebibo's departure effectively terminated as of
December 1, 2004 the employment agreement dated as of June 15, 1999 between Mr.
Rebibo, Mortgage Investment Corporation, Inc. (now Access National Mortgage
Corporation) and Access National Bank. A copy of this employment agreement was
previously filed with the SEC as Exhibit 10.4 to the Form 10-KSB filed by Access
National Corporation on March 31, 2003 and contains additional information
regarding the terms of Mr. Rebibo's employment.
Neither Access National Mortgage Corporation, Access National Bank, nor
their parent company Access National Corporation will incur any early
termination penalties in connection with the termination of the employment
agreement.
As of December 1, 2004, Rebibo beneficially owned 430,183 shares of
Access National Corporation's common stock, which represented 10.48% of
outstanding common stock, as determined in accordance with the beneficial
ownership provisions of Rule 13d-3 of the Securities Exchange Act of 1934.
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.
ACCESS NATIONAL CORPORATION
(Registrant)
Date: December 7, 2004 By:
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Name: Michael W. Clarke
Title: President & Chief
Executive Officer