SECURITIES AND EXCHANGE COMMISSION
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) |
(Commission file number) |
(I.R.S. employer identification number) |
701 North Haven Avenue, Ontario, California (Address of principal executive offices) |
91764 (Zip Code) |
Registrant’s telephone number, including area code: (909) 980-4030
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.):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(d) On March 21, 2008, the Compensation Committee of CVB Financial Corp. (“CVB”) approved new annual salaries for CVB’s executive officers (the “Executive Officers”). The annual salaries are as follows: Christopher D. Myers, President and Chief Executive Officer, $555,000; Edward J. Biebrich, Jr., Executive Vice President and Chief Financial Officer, $285,000; Jay W. Coleman, Executive Vice President, Sales Division, $275,000; Edward J. Mylett, Jr., Executive Vice President, Credit Management Division, $275,000; and Chris A. Walters, Executive Vice President, CitizensTrust, $240,000. A schedule reflecting these salaries is attached hereto as Exhibit 10.1.
Item 9.01
Financial Statements
and Exhibits.
(a)
Financial Statements
Not Applicable
(b)
Pro Forma Financial Information
Not Applicable
(c)
Shell Company Transactions
Not Applicable
(d)
Exhibits
10.1
Schedule of Base Salaries of Named Executive Officers of the Registrant
for 2008
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.
CVB FINANCIAL CORP.
(Registrant)
| Date: March 24, 2008 | By: /s/ Edward J. Biebrich, Jr. Edward J. Biebrich, Jr., Executive Vice President and Chief Financial Officer |
EXHIBIT 10.1
BASE SALARIES OF NAMED EXECUTIVE OFFICERS OF THE REGISTRANT
As of March 21, 2008, the Compensation Committee of CVB Financial Corp. has set the following base salaries (on an annual basis) for our named executive officers:
Christopher D. Myers
$ 555,000
President, Chief Executive Officer
Edward J. Biebrich, Jr.
$ 285,000
Executive Vice President, Chief Financial Officer
Jay W. Coleman
$ 275,000
Executive Vice President, Sales Division
Edward J. Mylett, Jr.
$ 275,000
Executive Vice President, Credit Management Division
Chris A. Walters
$ 240,000
Executive Vice President, CitizensTrust
Each of the named executive officers will be eligible to receive a discretionary bonus for 2008 pursuant to the CVB Financial Corporation (“CVB”) Discretionary Performance Compensation Plan.
In addition, each of the named executive officers receives the right to use a bank owned automobile. CVB also pays the country club dues for Messrs. Myers, Coleman and Mylett.
Like all employees of CVB, each of the named executive officers is also eligible to receive an allocation pursuant to CVB’s 401(k) and Profit Sharing Plan.
Each of the named executive officers is also eligible to participate in the CVB 2000 Stock Option Plan.