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 27, 2014

 

HERITAGE COMMERCE CORP
(Exact name of registrant as specified in its charter)

 

 

California

 

000-23877

 

77-0469558

(State or other jurisdiction of
incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

150 Almaden Boulevard, San Jose, CA

 

95113

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:  (408) 947-6900

 

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):

 

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

 

On February 27, 2014, the Board of Directors of Heritage Commerce Corp (the “Company”) upon recommendation of its Compensation Committee approved increases in the salaries of the Registrant’s executive officers as follows:

 

 

Name

 

Prior
Salary

 

New
Salary

 

 

 

 

 

 

 

Walter T. Kaczmarek
Chief Executive Officer and President

 

$360,400

 

$371,212

 

 

 

 

 

 

 

Lawrence D. McGovern
Executive Vice President
and Chief Financial Officer

 

$254,762

 

$262,750

 

 

 

 

 

 

 

Michael Benito
Executive Vice President/Banking Division

 

$237,705

 

$247,200

 

 

 

 

 

 

 

Dan T. Kawamoto
Executive Vice President
and Chief Administrative Officer

 

$254,616

 

$259,700

 

 

 

 

 

 

 

David Porter
Executive Vice President
and Chief Credit Officer

 

$255,000

 

$262,650

 

 

The new salaries take effect April 1, 2014.

 

Item 8.01        Other Events.

 

The Company will hold its Annual Shareholders Meeting on May 22, 2014.

 

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 thereunto duly authorized.

 

 

HERITAGE COMMERCE CORP

 

 

 

 

DATED: February 27, 2014

By:

/s/ Walter T. Kaczmarek

 

 

 

Walter T. Kaczmarek

 

 

Chief Executive Officer and President