8-K

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): April 4, 2016

First Business Financial Services, Inc.

(Exact name of registrant as specified in its charter)

Wisconsin	1-34095	39-1576570
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

401 Charmany Drive, Madison, Wisconsin 53719

(Address of principal executive offices, including zip code)

(608) 238-8008

(Registrant’s telephone number)

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-(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 April 8, 2016, First Business Financial Services, Inc. (the “Company”) announced that its Board of Directors (the “Board”) has appointed David R. Seiler to serve as the Company’s Chief Operating Officer, effective on or about April 18, 2016.

Mr. Seiler, age 51, has nearly 25 years of financial services experience including his previous position as Managing Director (formerly Senior Vice President/Manager) of the Correspondent Banking Division with BMO Harris Bank, N.A. in Milwaukee, Wisconsin which he held from 2007 to 2016. Prior to that, he held the position of Senior Vice President/Team Leader, Correspondent Real Estate Division from 2005 to 2007 and Vice President, Relationship Manager, Commercial Real Estate from 2002 to 2005.

Mr. Seiler’s base salary will be $250,000. Mr. Seiler will be eligible to participate in the Company’s Annual Incentive Bonus Program with a targeted payout range of 35%, the Company’s 401(k) Plan and the Company’s 2012 Equity Incentive Plan. Following the relocation of his family residence to the Madison, Wisconsin area, Mr. Seiler will also be eligible to receive an equity grant of $125,000 of restricted stock and to enter into an Executive Change in Control Agreement with the Company. The equity grant will vest in four equal installments; 25% on each subsequent anniversary date.

The foregoing description of the terms of Mr. Seiler’s employment arrangement is qualified in its entirety by reference to the full text of the Offer Letter between the Company and Mr. Seiler, which is filed as Exhibit 99.1 to this Current Report on Form 8-K, and is incorporated herein by reference.

A copy of the press release announcing the appointment of Mr. Seiler is attached as Exhibit 99.2 to this Current Report on Form 8-K, and is incorporated herein by reference.

Item 9.01.    Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits. The following exhibits are filed herewith:

(99.1) Offer Letter between the Company and David R. Seiler.

(99.2) Press Release of First Business Financial Services, Inc. dated April 8, 2016.

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.

	FIRST BUSINESS FINANCIAL SERVICES, INC.
Date: April 8, 2016	By: /s/ Barbara M. Conley
	Barbara M. Conley
	General Counsel

FIRST BUSINESS FINANCIAL SERVICES, INC.

Exhibit Index to Current Report on Form 8-K

Exhibit

Number

99.1        Offer Letter between the Company and David R. Seiler.

99.2        Press Release of First Business Financial Services, Inc., dated April 8, 2016.

EX-99.1

First Business March 23, 2015 David R. Seiler W136 N6553 Cobblestone Drive Menomonee Falls, WI 53051 Dear Dave: We are pleased to confirm our offer of employment with First Business Financial Services, Inc. The terms noted in this letter supersede any we have discussed previously. If the conditions set out below are acceptable to you, please sign this letter and return it to me by March 30, 2016. Starting Date: On or before April 18, 2016 Title: Chief Operating Officer Supervisor: Corey Chambas, President & CEO Starting Salary: $250,000/year Equity Program: You will receive $125,000 of restricted stock of First Business Financial Services, Inc., issued at the next scheduled quarterly issue date following the relocation of your residence to the Madison area. The stock will vest over four years in equal installments; 25% on each subsequent anniversary date. The restricted stock agreement contains non-solicitation of client and protection of leadership pool provisions. As an executive officer, you will be eligible for annual equity grants, with a total value of 25% of our base salary. The company and the executive must be performing at an acceptable level for grants to be made. Annual Incentive Bonus Program: You will be eligible for the board approved Annual Incentive Bonus Program. Your bonus will be calculated as a percentage of base compensation (pro-rated in 2016 based on your hire date) and ranges from 0% - 75%, with a targeted payout of 35%. Payment is based on company and individual performance. Change In Control Severance Agreement: You will be provided a Change-in-Control Severance Agreement upon relocating your residence to the Madison area. Relocation Package: You will receive a relocation package valued at approximately $27,000. First Business Financial Services, Inc. www.firstbusiness.com 401 Charmany Drive, Madison, WI 53719 608.238.8008

David R. Seiler Page 2 March 23, 2016 Vehicle Allowance: You will receive a vehicle allowance of $350/month. Business mileage is reimbursed at the IRS approved rate. Vacation: Five weeks (25 days) per calendar year. Sick Time: Accrues at 1/2 day per month. Sick time can be accumulated to a maximum of 66 days. 401(k) Plan: First Business provides a 401(k) plan that allows employees to save for a secure retirement. This program allows participants to make pre-tax contributions to their 401(k) retirement savings account starting the first of the month following 30 days of employment. After six months of employment, First Business will match employee deferrals dollar for dollar up to 3%. An after-tax Roth provision is also provided through this plan. An additional annual discretionary employer contribution is made to eligible participants after one year of employment. The amount is based on the company's performance and is targeted at 4%. Disability Insurance: Group short-term and long-term disability insurance will be provided Life Insurance: Two times base salary You will also be eligible to participate in the employee benefit programs available to employees as provided for in the employee handbook. As you know, employment is at will and subject to the terms and conditions outlined in our employee handbook and employment policies as amended from time to time. This letter is not an employment contract. This offer is subject to satisfactory results of a criminal background check, reference checking, a controlled substance test, and verification of your highest level of education. This offer is also subject to First Business Financial Services, Inc. board approval. Dave, we look forward to working with you and know you will be a valuable asset to our team. Please indicate your acceptance of the terms of this offer by signing below and returning a copy to me. Sincerely, Corey Corey Chambas President & Chief Executive Officer Acknowledged and agreed to by: /s/ David R. Seiler 3/25/2016 David R. Seiler Date First Business Financial Services, Inc. www.firstbusiness.com 401 Charmany Drive, Madison, WI 53719 608.238.8008

EX-99.2

Press Release

CONTACT:

Barbara M. Conley

Senior Vice President and General Counsel

First Business Financial Services, Inc.

608-232-5902

bconley@firstbusiness.com

First Business Names David Seiler to Serve as Chief Operating Officer of the $1.7 Billion Bank Holding Company

MADISON, WI - April 8, 2016 (GLOBE NEWSWIRE) - First Business Financial Services, Inc. (“First Business”) (NASDAQ: FBIZ), today announced the appointment of David R. Seiler as Chief Operating Officer, effective on or about April 18, 2016.

Seiler brings to First Business nearly 25 years of financial services experience with leading commercial banking firms in Milwaukee, Wisconsin. Most recently, he served as Managing Director of the Correspondent Banking Division of BMO Harris Bank.

“Dave’s deep banking experience and expertise are an ideal fit for the new Chief Operating Officer role at First Business, and he will provide valuable leadership which became necessary due to our growth and expansion across business lines and geographies,” said Corey Chambas, President and Chief Executive Officer. “Dave has established an impressive track record of successful leadership in credit administration, relationship management, treasury management, commercial real estate lending, and correspondent banking. Dave has managed teams with offices not only in Wisconsin, but also in the Minnesota, St. Louis, and Kansas City markets. We are thrilled to have him join our growing organization.”

Seiler received a bachelor's degree in Marketing and Business Administration and a master’s degree in Real Estate Appraisal and Investment Analysis from the University of Wisconsin - Madison.

About First Business Financial Services, Inc.

First Business Financial Services is a Wisconsin-based bank holding company, focused on the unique needs of businesses, business executives and high net worth individuals. First Business offers commercial banking, specialty finance and private wealth management solutions, and because of its niche focus, is able to provide its clients with unmatched expertise, accessibility and responsiveness. For additional information, visit www.firstbusiness.com or call 608-238-8008.

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