HBCP Home Bancorp
Filed: 20 May 21, 4:56pm
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|Date of Report (Date of earliest event reported)||May 20, 2021|
|Home Bancorp, Inc.|
|(Exact name of registrant as specified in its charter)|
|(State or other jurisdiction of incorporation)||(Commission File Number)||(IRS Employer Identification No.)|
|503 Kaliste Saloom Road, Lafayette, Louisiana||70508|
|(Address of principal executive offices)||(Zip Code)|
|Registrant’s telephone number, including area code||(337) 237-1960|
|(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))|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading symbol(s)||Name of each exchange on which registered|
|Common Stock||HBCP||Nasdaq Stock Market|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
|Item 5.02||Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.|
(e.)On May 20, 2021, the Boards of Home Bancorp, Inc. ("the Company") and Home Bank, N. A. ("the Bank") acted to extend the term of the existing employment agreements between the Company and John W. Bordelon and the Bank and each of John W. Bordelon, Jason P. Freyou and Darren E. Guidry. Amendments to each of the employment agreements were entered into in order to extend the terms of the agreements to May 20, 2024, in the case of Mr. Bordelon, and May 20, 2023, in the case of the other executive officers.
In addition, on May 20, 2021, the Board of the Bank enter into an employment agreement between the Bank and David T. Kirkley, the Bank's Executive Vice President and Chief Financial Officer. The terms of the employment agreement with Mr. Kirkley are substantially identical to the existing employment agreements with the Bank's other executive vice presidents.
•The employment agreement with Mr. Kirkley has a term expiring on May 20, 2023. At least annually, the Board of Directors of the Bank will consider whether to renew and extend the term of the agreement. Any such renewal or extension of the agreement will be reflected in an amendment or supplement to such agreement.
•The employment agreement between the Bank and Mr. Kirkley is terminable with or without cause by the Bank. The employment agreement provides that in the event of a termination of employment by the Bank other than due to cause, disability, death, retirement or in connection with a change in control of the Company or the Bank or in the event of a voluntary termination by the officer for “good reason” (which includes a change in the officer’s position, salary or duties without his consent), Mr. Kirkley would be entitled to (1) an amount of cash severance which is equal to one times the amount of his base salary as of the date of termination and (2) continued participation in certain employee benefit plans of Bank, including medical and dental plans, until the earlier of 12 months or the date he receives substantially similar benefits from full-time employment with another employer. In the event of termination of employment concurrently with or following a change in control of the Company or the Bank, including a voluntary termination for good reason, as defined, Mr. Kirkley would be entitled to (1) an amount of cash severance which is equal to two times the sum of his base salary as of the date of termination plus his prior year’s bonus and (2) continued participation in certain employee benefit plans, including medical and dental plans, until the earlier of 24 months or the date he receives substantially similar benefits from another employer upon his full-time employment. In the event his employment is terminated due to cause, death, disability or retirement, he will have no rights under the employment agreement to any compensation or benefits following the date of termination. The employment agreement with Mr. Kirkley provides that in the event any of the payments to be made thereunder or otherwise upon termination of employment are deemed to constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code (the “Code”), payments and benefits received thereunder shall be reduced by the minimum amount necessary to result in no portion of the payments and benefits being non-deductible by the Bank for federal income tax purposes.
No other changes were made to the employment agreements.
The foregoing description is qualified in its entirety by reference to the amendments to the employment agreements, copies of which are attached as exhibits to this Current Report on Form 8-K and are incorporated herein by reference.
|Item 9.01||Financial Statements and Exhibits|
The following exhibits are filed herewith.
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.
|HOME BANCORP, INC.|
|Date: May 20, 2021||By:||/s/ John W. Bordelon|
|John W. Bordelon|
|President and Chief Executive Officer|