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 30, 2007
First Busey Corporation
(Exact name of registrant as specified in its charter)
| |
|
|
|
|
Nevada
(State or other jurisdiction
of incorporation)
|
|
0-15959
(Commission File Number)
|
|
37-1078406
(I.R.S. Employer Identification No.) |
201 W. Main St.
Urbana, IL 61801
(Address of principal executive offices) (Zip code)
(217) 365-4513
(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):
| o |
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
| o |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
| o |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
| |
| o |
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement
Effective January 30, 2007, the Registrant’s Board of Directors approved the fiscal year 2007
compensation to executive officers in the following amounts set forth below opposite the name of
such officer:
| |
|
|
|
|
Officer
|
|
2007 Cash Compensation
|
|
|
|
Barbara J. Harrington
|
|
$ |
160,000 |
|
David D. Mills
|
|
$ |
185,000 |
|
Douglas C. Mills
|
|
$ |
225,000 |
|
Lee H. O’Neill
|
|
$ |
220,000 |
|
Edwin A. Scharlau
|
|
$ |
180,000 |
|
Effective January 30, 2007, this Registrant’s Board of Directors approved 2006 cash bonus
payments to executive officers in the following amounts set forth below opposite the name of such
officer:
| |
|
|
|
|
Officer
|
|
Cash Bonus Payment
|
|
|
|
Barbara J. Harrington
|
|
$ |
22,325 |
|
David D. Mills
|
|
$ |
51,875 |
|
Douglas C. Mills
|
|
$ |
100,000 |
|
Lee H. O’Neill
|
|
$ |
31,000 |
|
Edwin A. Scharlau
|
|
$ |
33,750 |
|
The foregoing includes cash payments made pursuant to the Registrant’s Management and
Associate Dividend Program, based on the fiscal year 2006 earnings per share goal determined by the
Compensation Committee at the beginning of 2006 and achieved by the Registrant.
Signature
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.
| |
|
|
|
|
| Date: February 1, 2007 |
First Busey Corporation
|
|
| |
By: |
/s/ Barbara J. Harrington
|
|
| |
|
Name: |
Barbara J. Harrington |
|
| |
|
Title: |
Chief Financial Officer |
|
-2-