-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Q4+SluZ70RDIsKNNth7m31etJglhhNfS8+Tg1omJ0avrUi9ukvEe/JXROMSoha9U RIuSGTAoDReVhORsU9oh1w== 0000950159-11-000141.txt : 20110224 0000950159-11-000141.hdr.sgml : 20110224 20110224145612 ACCESSION NUMBER: 0000950159-11-000141 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110218 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20110224 DATE AS OF CHANGE: 20110224 FILER: COMPANY DATA: COMPANY CONFORMED NAME: METRO BANCORP, INC. CENTRAL INDEX KEY: 0001085706 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 251834776 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50961 FILM NUMBER: 11635810 BUSINESS ADDRESS: STREET 1: 3801 PAXTON STREET CITY: HARRISBURG STATE: PA ZIP: 17111 BUSINESS PHONE: 7174126301 MAIL ADDRESS: STREET 1: 3801 PAXTON STREET CITY: HARRISBURG STATE: PA ZIP: 17111 FORMER COMPANY: FORMER CONFORMED NAME: PENNSYLVANIA COMMERCE BANCORP INC DATE OF NAME CHANGE: 19990504 8-K 1 metro8k.htm METRO BANCORP, INC. FORM 8-K metro8k.htm
 
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)
February 24, 2011 (February 18, 2011)

Metro Bancorp, Inc.
(Exact name of registrant as specified in its charter)

Pennsylvania
  
000-50961
  
25-1834776
(State or other jurisdiction of incorporation)
  
(Commission File Number)
  
(IRS Employer Identification No.)

3801 Paxton Street, Harrisburg, Pennsylvania
  
17111
(Address of principal executive offices)
  
(Zip Code)

Registrant’s telephone number, including area code
800-653-6104

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:

[ ]  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 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On February 18, 2011, the Board of Directors of Metro Bancorp, Inc. (the “Company”) ratified the following items approved by the Company’s Compensation Committee:

● 2010 cash bonus and stock option grants for the Company’s Chief Executive Officer, Chief Financial Officer and Named Executive Officers:

Name
Title
Cash Bonus
Stock Options Grants1
Gary L. Nalbandian
Chairman, President and Chief Executive Officer
$60,000
50,000
Mark A. Zody
Executive Vice President and Chief Financial Officer
$40,000
30,000
Peter M. Musumeci, Jr.
Executive Vice President and  Senior Loan Officer
$0
20,000
Mark A. Ritter
Executive Vice President and Chief Operating Officer
$25,000
15,000
James R. Ridd
Senior Vice President and Chief Credit Officer
$6,000
5,000
1 Grants made pursuant to the Company’s 2006 Employee Stock Option Plan at an exercise price of $12.05, the market price on the date of grant.


● 2011 base salaries for the Company’s Chief Executive Officer, Chief Financial Officer and Named Executive Officers:

Name
Title
Base Salary
Gary L. Nalbandian
Chairman, President and Chief Executive Officer
$595,000
Mark A. Zody
Executive Vice President and Chief Financial Officer
$290,000
Peter M. Musumeci, Jr.
Executive Vice President and Senior Loan Officer
$300,000
Mark A. Ritter
Executive Vice President and Chief Operating Officer
$250,000
James R. Ridd
Senior Vice President and Chief Credit Officer
$190,000




 
 
 




 
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.
 

 
 
Metro Bancorp, Inc.
 
-----------------------------------------------
 
(Registrant)
   
   
Date: February 24, 2011
/s/ Mark A. Zody
 
-----------------------------------------------
 
Mark A. Zody
 
Chief Financial Officer

 
 
 
 
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