Maryland
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001-34893
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27-3100949
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(State or Other Jurisdiction
of Incorporation)
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(Commission File No.)
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(I.R.S. Employer
Identification No.)
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2640 Monroeville Boulevard, Monroeville, Pennsylvania
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15146
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(Address of Principal Executive Offices)
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(Zip Code)
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[ ]
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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(a)
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Financial statements of businesses acquired. Not Applicable.
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(b)
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Pro forma financial information. Not Applicable.
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(c)
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Shell company transactions: Not Applicable.
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(d)
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Exhibits.
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Exhibit No.
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Description
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10.1
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Form of stock option agreement with employees
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10.2
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Form of stock option agreement with outside directors
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10.3
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Form of restricted stock award agreement with employees
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10.4
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Form of restricted stock award agreement with outside directors
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STANDARD FINANCIAL CORP.
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DATE: July 25, 2012
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By:
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/s/ Timothy K. Zimmerman
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Timothy K. Zimmerman
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President and Chief Executive Officer
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Exhibit No.
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Description
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10.1
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Form of stock option agreement with employees
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10.2
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Form of stock option agreement with outside directors
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10.3
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Form of restricted stock award agreement with employees
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10.4
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Form of restricted stock award agreement with outside directors
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1.
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Name of Participant: _________________________
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2.
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Date of Grant: July 25, 2012
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3.
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Total number of shares of Company common stock, $0.01 par value per share, that may be acquired pursuant to this Option: ____________________
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●
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This is an Incentive Stock Option (“ISO”).
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4.
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Exercise price per share: $ __________
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5.
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Expiration Date of Option: July 24, 2022.
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6.
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Vesting Schedule. Except as otherwise provided in this Agreement, this Option first becomes exercisable, subject to the Option’s expiration date, in accordance with the vesting schedule specified herein.
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7.1
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Delivery of Notice of Exercise of Option. This Option will be exercised in whole or in part by the Participant’s delivery to the Company of written notice (the “Notice of Exercise of Option” attached hereto as Exhibit A) setting forth the number of shares with respect to which this Option is to be exercised, together with payment by cash or other means acceptable to the Committee, including:
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(i)
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by tendering shares of Common Stock valued at Fair Market Value (as defined in Section 8.1(r) of the Plan) as of the day of exercise;
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(ii)
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by irrevocably authorizing a third party, acceptable to the Committee, to sell shares of Common Stock (or a sufficient portion of the shares) acquired upon exercise of the Option and to remit to the Company a sufficient portion of the sale proceeds to pay the entire exercise price and any tax withholding resulting from such exercise;
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(iii)
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by a net settlement of the Option, using a portion of the shares obtained on exercise in payment of the exercise price of the Option;
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(iv)
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by personal, certified or cashier’s check;
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(v)
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by other property deemed acceptable by the Committee; or
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(vi)
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by any combination thereof.
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8.
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Delivery of Shares.
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9.
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Adjustment Provisions.
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10.
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Termination of Option and Accelerated Vesting.
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(i)
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Death. This Option will become exercisable as to all shares subject to an outstanding Award, whether or not then exercisable, in the event of the Participant’s Termination of Service by reason of the Participant’s death. This Option may thereafter be exercised by the Participant’s legal representative or beneficiaries for a period of one year from the date of death, subject to termination on the expiration date of this Option, if earlier.
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(ii)
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Disability. This Option will become exercisable as to all shares subject to an outstanding Award, whether or not then exercisable, in the event of the Participant’s Termination of Service by reason of the Participant’s Disability. This Option may thereafter be exercised for a period of one year from the date of such Termination of Service by reason of Disability, subject to termination on the Option’s expiration date, if earlier.
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(iii)
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Termination for Cause. If the Participant’s Termination of Service is for Cause, all Options that have not been exercised will expire and be forfeited.
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(iv)
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Change in Control. In the event of the Participant’s Involuntary Termination of Employment following a Change in Control, all Options held by the Participant, whether or not exercisable at such time, will become fully exercisable, subject to the expiration provisions otherwise applicable to the Option. A “Change in Control” will be deemed to have occurred as provided in Section 4.2 of the Plan.
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(v)
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Retirement. If the Participant’s Termination of Service is due to Retirement (as defined in Section 8.1(aa) of the Plan), this Option may be exercised, to the extent it was vested and exercisable at the time of such termination, for a period of one year following termination (and all Options that have not vested will expire and be forfeited on the date of Retirement).
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(vi)
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Other Termination. If the Participant’s Termination of Service is for any reason other than due to death, Disability or for Cause, this Option may thereafter be exercised, to the extent it was exercisable at the time of such termination, for a period of three months following termination, subject to termination on the Option’s expiration date, if earlier.
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(vii)
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Incentive Option Treatment. No Option will be eligible for treatment as an ISO in the event such Option is exercised more than three months following Termination of Service (except in the case of Termination of Service due to Disability). In order to obtain ISO treatment for Options exercised by heirs or devisees of the Participant, the Participant’s death must have occurred while the Participant was employed or within three months of Termination of Service.
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11.
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Miscellaneous.
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11.1
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No Option will confer upon the Participant any rights as a stockholder of the Company prior to the date on which the individual fulfills all conditions for receipt of such rights.
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11.2
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This Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant.
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11.3
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Except as otherwise provided by the Committee, ISOs under the Plan are not transferable except (1) as designated by the Participant by will or by the laws of descent and distribution, (2) to a trust established by the Participant, or (3) between spouses incident to a divorce or pursuant to a domestic relations order, provided, however, that in the case of a transfer described under (3), the Option will not qualify as an ISO as of the day of such transfer.
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11.4
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This Option will be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.
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11.5
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The granting of this Option does not confer upon the Participant any right to be retained in the employ of the Company or any subsidiary.
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STANDARD FINANCIAL CORP.
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By:
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Its:
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PARTICIPANT
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___
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Cash or personal, certified or cashier’s check in the sum of $_______, in full/partial payment of the purchase price.
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___
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Stock of the Company with a fair market value of $______ in full/partial payment of the purchase price.*
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___
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My check in the sum of $_______ and stock of the Company with a fair market value of $______, in full/partial payment of the purchase price.*
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___
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Please sell ______ shares from my Option shares through a broker in full/partial payment of the purchase price.
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___
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investment
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___
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resale or distribution
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Date: ____________, _____.
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_________________________________________
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1.
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Name of Participant: _________________________
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2.
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Date of Grant: July 25, 2012
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3.
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Total number of shares of Company common stock, $0.01 par value per share, that may be acquired pursuant to this Option: _______________
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●
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This is a Non-Qualified Stock Option.
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4.
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Exercise price per share: $ __________
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5.
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Expiration Date of Option: July 24, 2022.
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6.
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Vesting Schedule. Except as otherwise provided in this Agreement, this Option first becomes exercisable, subject to the Option’s expiration date, in accordance with the vesting schedule specified herein.
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7.1
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Delivery of Notice of Exercise of Option. This Option will be exercised in whole or in part by the Participant’s delivery to the Company of written notice (the “Notice of Exercise of Option” attached hereto as Exhibit A) setting forth the number of shares with respect to which this Option is to be exercised, together with payment by cash or other means acceptable to the Committee, including:
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(i)
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by tendering shares of Common Stock valued at Fair Market Value (as defined in Section 8.1(r) of the Plan) as of the day of exercise;
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(ii)
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by irrevocably authorizing a third party, acceptable to the Committee, to sell shares of Common Stock (or a sufficient portion of the shares) acquired upon exercise of the Option and to remit to the Company a sufficient portion of the sale proceeds to pay the entire exercise price and any tax withholding resulting from such exercise;
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(iii)
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by a net settlement of the Option, using a portion of the shares obtained on exercise in payment of the exercise price of the Option;
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(iv)
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by personal, certified or cashier’s check;
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(v)
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by other property deemed acceptable by the Committee; or
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(vi)
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by any combination thereof.
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8.
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Delivery of Shares.
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9.
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Adjustment Provisions.
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10.
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Termination of Option and Accelerated Vesting.
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(i)
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Death. This Option will become exercisable as to all shares subject to an outstanding Award, whether or not then exercisable, in the event of the Participant’s Termination of Service by reason of the Participant’s death. This Option may thereafter be exercised by the Participant’s legal representative or beneficiaries for a period of one year from the date of death, subject to termination on the expiration date of this Option, if earlier.
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(ii)
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Disability. This Option will become exercisable as to all shares subject to an outstanding Award, whether or not then exercisable, in the event of the Participant’s Termination of Service by reason of the Participant’s Disability. This Option may thereafter be exercised for a period of one year from the date of such Termination of Service by reason of Disability, subject to termination on the Option’s expiration date, if earlier.
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(iii)
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Termination for Cause. If the Participant’s Termination of Service is for Cause, all Options that have not been exercised will expire and be forfeited.
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(iv)
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A Change in Control. In the event of the Participant’s Termination of Service as a Director following a Change in Control, all Options held by the Participant, whether or not exercisable at such time, will become fully exercisable, subject to the expiration provisions otherwise applicable to the Option. A “Change in Control” will be deemed to have occurred as provided in Section 4.2 of the Plan.
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(v)
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Retirement. If the Participant’s Termination of Service is due to Retirement (as defined in Section 8.1(aa) of the Plan), this Option may be exercised, to the extent it was vested and exercisable at the time of such termination, for a period of one year following termination (and all Options that have not vested will expire and be forfeited on the date of Retirement).
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(vi)
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Other Termination. If the Participant’s Termination of Service is for any reason other than due to death, Disability or for Cause, this Option may thereafter be exercised, to the extent it was exercisable at the time of such termination, for a period of three months following termination, subject to termination on the Option’s expiration date, if earlier.
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11.
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Miscellaneous.
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11.1
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No Option will confer upon the Participant any rights as a stockholder of the Company prior to the date on which the individual fulfills all conditions for receipt of such rights.
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11.2
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This Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant.
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11.3
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In the discretion of the Committee, a non-qualified Option granted under the Plan may be transferable by the Participant, provided, however, that such transfers will be limited to Immediate Family Members of Participants, trusts and partnerships established for the primary benefit of such family members or to charitable organizations, and provided, further, that such transfers are not made for consideration to the Participant.
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11.4
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This Option will be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.
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11.5
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The granting of this Option does not confer upon the Participant any right to be retained in the service of the Company or any Subsidiary.
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STANDARD FINANCIAL CORP.
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By:
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Its:
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PARTICIPANT
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___
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Cash or personal, certified or cashier’s check in the sum of $_______, in full/partial payment of the purchase price.
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___
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Stock of the Company with a fair market value of $______ in full/partial payment of the purchase price.*
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___
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My check in the sum of $_______ and stock of the Company with a fair market value of $______, in full/partial payment of the purchase price.*
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___
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Please sell ______ shares from my Option shares through a broker in full/partial payment of the purchase price.
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___
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investment
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___
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resale or distribution
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Date: ____________, _____.
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_________________________________________
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1.
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Name of Participant _________________________
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2.
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Date of Grant: July 25, 2012
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3.
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Total number of shares of Company common stock, $0.01 par value per share, covered by the Restricted Stock Award: _______________
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4.
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Vesting Schedule. Except as otherwise provided in this Agreement, this Restricted Stock Award first becomes earned in accordance with the vesting schedule specified herein.
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5.
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Grant of Restricted Stock Award.
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6.
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Voting and Dividends.
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7.
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Delivery of Shares.
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8.
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Adjustment Provisions.
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9.
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Effect of Termination of Service on Restricted Stock Award.
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9.1
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This Restricted Stock Award will vest as follows:
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(i)
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Death. In the event of the Participant’s Termination of Service by reason of the Participant’s death, all Restricted Stock will vest as to all shares subject to an outstanding Award, whether or not fully vested, at the date of Termination of Service.
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(ii)
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Disability. In the event of the Participant’s Termination of Service by reason of Disability, all Restricted Stock will vest as to all shares subject to an outstanding Award, whether or not fully vested, at the date of Termination of Service.
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(iii)
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Termination for Cause. In the event of the Participant’s Service has been terminated for Cause, all Restricted Stock granted to a Participant that has not vested will expire and be forfeited.
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(iv)
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Change in Control. In the event of an Involuntary Termination of Employment following a Change in Control, all Restricted Stock Awards will vest as to all shares subject to an outstanding Award, whether or not fully vested, at the date of the Involuntary Termination of Employment. A “Change in Control” will be deemed to have occurred as provided in Section 4.2 of the Plan.
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(v)
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Other Termination. In the event of a Participant’s Termination of Service for any reason other than due to death, Disability, for Cause or following a Change in Control, all shares of Restricted Stock awarded to the Participant which have not vested as of the date of Termination of Service will expire and be forfeited.
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10.
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Miscellaneous.
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10.1
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This Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant.
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10.2
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Restricted Stock Awards are not transferable prior to the time such Awards vest in the Participant.
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10.3
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This Restricted Stock Award and this Agreement will be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.
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10.4
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This Restricted Stock Award and this Agreement are subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and, notwithstanding any of the provisions hereof, the Company will not be obligated to issue any shares of stock hereunder if the issuance of such shares would constitute a violation of any such law, regulation or order or any provision thereof.
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STANDARD FINANCIAL CORP.
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By:
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Its:
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PARTICIPANT
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1.
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Name of Participant: _________________________
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2.
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Date of Grant: July 25, 2012
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3.
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Total number of shares of Company common stock, $0.01 par value per share, covered by the Restricted Stock Award: _______________
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4.
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Vesting Schedule. Except as otherwise provided in this Agreement, this Restricted Stock Award first becomes earned in accordance with the vesting schedule specified herein.
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5.
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Grant of Restricted Stock Award.
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6.
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Voting and Dividends.
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7.
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Delivery of Shares.
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8.
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Adjustment Provisions.
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9.
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Effect of Termination of Service on Restricted Stock Award.
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9.1
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This Restricted Stock Award will vest as follows:
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(i)
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Death. In the event of the Participant’s Termination of Service by reason of the Participant’s death, all Restricted Stock will vest as to all shares subject to an outstanding Award, whether or not fully vested, at the date of Termination of Service.
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(ii)
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Disability. In the event of the Participant’s Termination of Service by reason of Disability, all Restricted Stock will vest as to all shares subject to an outstanding Award, whether or not fully vested, at the date of Termination of Service.
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(iii)
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Termination for Cause. In the event of the Participant’s Service has been terminated for Cause, all Restricted Stock granted to a Participant that has not vested will expire and be forfeited.
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(iv)
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Change in Control. In the event of a Termination of Service as a Director following a Change in Control, all Restricted Stock Awards will vest as to all shares subject to an outstanding Award, whether or not fully vested, at the date of the Involuntary Termination of Employment. A “Change in Control” will be deemed to have occurred as provided in Section 4.2 of the Plan.
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(v)
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Other Termination. In the event of a Participant Termination of Service for any reason other than due to death, Disability, for Cause or following a Change in Control, all shares of Restricted Stock awarded to the Participant which have not vested as of the date of Termination of Service will expire and be forfeited.
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10.
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Miscellaneous.
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10.1
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This Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant.
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10.2
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Restricted Stock Awards are not transferable prior to the time such Awards vest in the Participant.
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10.3
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This Restricted Stock Award will be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.
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10.4
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This Restricted Stock Award is subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and, notwithstanding any of the provisions hereof, the Company will not be obligated to issue any shares of stock hereunder if the issuance of such shares would constitute a violation of any such law, regulation or order or any provision thereof.
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STANDARD FINANCIAL CORP.
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By:
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Its:
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PARTICIPANT
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