Form 8-K

-----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, HGq19B1jAxNOW18GPbnmhAF+MoC4HC/sa+Xn4qsMEtfqDoXYvia2T3vkgAJKgWRl GOQELVqy+WokKAZJPmEf6Q== 0001193125-07-002305.txt : 20070105 0001193125-07-002305.hdr.sgml : 20070105 20070105172524 ACCESSION NUMBER: 0001193125-07-002305 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070101 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers FILED AS OF DATE: 20070105 DATE AS OF CHANGE: 20070105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COLONY BANKCORP INC CENTRAL INDEX KEY: 0000711669 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 581492391 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12436 FILM NUMBER: 07515185 BUSINESS ADDRESS: STREET 1: 115 SOUTH GRANT STREET STREET 2: . CITY: FITZGERALD STATE: GA ZIP: 31750 BUSINESS PHONE: 229-426-6000 MAIL ADDRESS: STREET 1: 115 SOUTH GRANT STREET STREET 2: . CITY: FITZGERALD STATE: GA ZIP: 31750 8-K 1 d8k.htm FORM 8-K Form 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): January 1, 2007

COLONY BANKCORP, INC.

(Exact name of registrant as specified in its charter)

Georgia

000-12436

58-1492391

(State or other jurisdiction

of incorporation)

(Commission File No.)

(IRS Employer
I.D. No.)

115 South Grant Street, Fitzgerald, Georgia 31750

(Address of principal executive offices)

(229) 426-6000

Registrant’s Telephone Number, including area code

Not applicable

(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 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e)	The Independent Directors Compensation Committee of Colony Bankcorp, Inc. (the “Company”) has approved salary increases, bonus awards, and stock grant awards for certain of its named executive officers. The following table shows the approved corporation increases and awards:


Name	2006 Bonus Salary ($)	2007 Base Salary ($)	2006 Bonus Awards ($)	Stock Grant Awards (#)
Name	2006 Bonus Salary ($)	2007 Base Salary ($)	2006 Bonus Awards ($)	Stock Grant Awards (#)
Al Ross President & CEO Colony Bankcorp, Inc.	180,000.00	205,000.00	40,000.00	2,500

Terry Hester CFO Colony Bankcorp, Inc.	140,000.00	155,000.00	26,000.00	800

Walter Patten President and CEO Colony Bank Worth	155,000.00	160,000.00	30,000.00	750

Will Sims President and CEO Colony Bank Ashburn	145,000.00	152,500.00	28,500.00	750

Mike Miller President and CEO Colony Bank Southeast	132,500.00	140,000.00	40,000.00	750

Larry Stevenson President and CEO Colony Bank of Dodge County	132,500.00	140,000.00	25,000.00	750

The salary increases are effective January 1, 2007, and the bonus awards will be paid on January 11, 2007. The stock award grants have a three-year vesting requirement beginning January 2, 2007 and an officer forfeits all shares if within the three year period termination of employment occurs. The value per share on the date of the grant was $17.70.

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.


		COLONY BANKCORP, INC.

Date:	January 5, 2007	By:	/s/ Terry L. Hester
			Terry L. Hester
			Executive Vice-President and
			Chief Financial Officer

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