Unassociated Document
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 9, 2006
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, California
|
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):
□ 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
1.01 - Entry
Into A Material Definitive Agreement
Commencing
in January 2006, the outside directors of Heritage Commerce Corp will, receive
a
monthly retainer of $2,000 per month. In addition, each outside director will
receive $800 per Committee meeting attended in person and $400 for each
Committee meeting attended by telephone. Each Committee chair will receive
in
addition a $2,500 annual retainer.
The
outside directors will be entitled to bi-annual grants of 6,000 to 8,000 stock
options as determined by the Company's Compensation Committee. The options
will
be granted pursuant to the Company's 2004 Stock Option Plan.
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.
DATED:
January 9, 2006 HERITAGE
COMMERCE CORP
By:
/s/
Lawrence D. McGovern
Lawrence D.
McGovern
Executive
Vice President and Chief Financial Officer