UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported)
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July 9, 2014
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Home Federal Bancorp, Inc. of Louisiana
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(Exact name of registrant as specified in its charter)
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Louisiana
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001-35019
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02-0815311
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(State or other jurisdiction
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(Commission File Number)
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(IRS Employer
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of incorporation)
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Identification No.)
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624 Market Street, Shreveport, Louisiana
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71101
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code
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(318) 222-1145
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Not Applicable
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(Former name or former address, if changed since last report)
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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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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(a)
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Not applicable.
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(b)
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Not applicable.
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(c)
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Not applicable.
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(d)
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The following exhibit is included with this Report:
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Exhibit Number | Description | ||
10.1 | Employment Offer Letter accepted by Glen W. Brown on April 9, 2014 | ||
99.1 | Press release, dated July 9, 2014 |
HOME FEDERAL BANCORP, INC. OF LOUISIANA
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Date: July 9, 2014
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By:
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/s/Clyde D. Patterson |
Clyde D. Patterson
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Executive Vice President and
Chief Financial Officer
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Exhibit Number | Description | ||
10.1 | Employment Offer Letter accepted by Glen W. Brown on April 9, 2014 | ||
99.1 | Press release, dated July 9, 2014 |
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Stock Award:
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Within 30 business days of your start date, you will be granted a restricted stock award covering 3,500 shares of the Company’s common stock (the “Stock Award”), subject to approval by the Compensation Committee of our Board of Directors. The Stock Award will vest in equal annual installments over a 5-year period, with the first 20% of the shares subject to the Stock Award vesting on the first anniversary of the date of grant. All vesting is subject to you remaining employed with the Bank and the Company through the relevant vesting dates.
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Stock Option:
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Within 30 business days of your start date, you will be granted a stock option to purchase 10,500 shares of the Company’s common stock (the “Option”) subject to approval by the Compensation Committee of our Board of Directors. The Option will be priced at the closing price on the NASDAQ on the date of the grant. 20% of the shares subject to this Option shall vest on the one year anniversary of the date of grant. Thereafter, 20% of the shares subject to the Option shall vest on each anniversary of the date of grant; so as to be 100% vested on the five year anniversary of the date of grant. All vesting is subject to you remaining employed with the Bank and the Company through the relevant vesting dates.
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Incentive:
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You are guaranteed a $15,000, incentive bonus in 2014. Any bonus in subsequent years would be based on your annual performance review.
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Change of Control:
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You will be entitled to enter into a change in control agreement that will provide if your employment is terminated as a result of a change in control, as
defined
in the agreement, you will receive a one-time severance payment equal to 12 months of your then-current base salary, subject to annual renewal by the Compensation Committee of our Board of Directors.
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Relocation
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The Bank will reimburse you for certain documented expenses to help defray the cost of your personal move and relocation. Temporary housing is covered up to $5,000, paid in monthly installments of $1,000. Your expense for transporting furnishings and personal belongings, within your current household, is covered up to $5,000. The Bank will cover up to a maximum of $5,000 for invoiced expenses incurred in selling your primary residence. The Bank will also reimburse your expenses of up to $1,000, for you and your family to visit the area. Certain conditions apply to each of these benefits.
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Vacation:
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2 weeks (10 days) in 2014, 3 weeks (15 days) per year beginning January 1, 2015. Employees are eligible for paid vacation leave after 90 days of employment.
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Sick Leave:
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12 days per year, cumulative to a maximum of 30 days. Employees are eligible for paid sick leave after 90 days of employment.
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Benefits:
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Eligible to contribute to the Home Federal Bank 401(k) plan on the 1
st
day of the month following 90 days of employment. Eligible for Safe Harbor matching contributions following one (1) year of employment. Home Federal matches 100% on the first 6% you contribute to your 401(k) savings account.
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Eligible for Home Federal Bank ESOP plan following one (1) year of employment.
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Group health, dental, and vision coverage available on 1st day of the month following 30 days of employment.
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STD, LTD, AD&D, and Life Insurance coverage provided on 1st day of month following 30 days of employment.
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Contact:
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Home Federal Bancorp, Inc. of Louisiana
James R. Barlow, President and Chief Operating Officer
Dawn F. Williams, Vice President
318.841.1170
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