UNITED COMMUNITY FINANCIAL CORP. (NASDAQ:UCFC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

0

UNITED COMMUNITY FINANCIAL CORP. (NASDAQ:UCFC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

(e) On March3, 2017, the Compensation Committee of United
Community Financial Corp. (UCFC or the Company) approved annual
incentive and long-term incentive awards to executive officers
under UCFCs 2015 Long Term Incentive Plan (the 2015 Plan)
approved by shareholders on April30, 2015. To document those
awards, the Company will enter into both a 2017 Long Term
Incentive Plan Award Agreement (the LTIP Agreement) and a 2017
Annual Incentive Award Agreement (the AIP Agreement) with each of
Messrs. Small, Garrity, Nohra and Esson and Mrs.Radis; the forms
of both are attached hereto as Exhibits10.1 and 10.2,
respectively.

Under the AIP Agreement the Target Award for Mr.Small is
$225,000, for Mr.Garrity $106,400, for Mr.Nohra $102,000, for
Mr.Esson $90,000 and for Mrs.Radis $90,000. If earned, depending
on continued service and Company performance, the award is paid
in cash. The calculation of the award earned in the 2017 fiscal
year performance period is determined by actual Company
performance against target performance in five performance
measures (weighted between 15-35%) as set forth in the AIP
Agreement and can be paid out at a potential payout of up to 150%
of the target level.

Under the LTIP Agreement, Mr.Small was granted 20,594 Performance
Share Units (PSUs), Mr.Garrity was granted 10,652 PSUs, Mr.Nohra
was granted 8,753 PSUs, Mr.Esson was granted 7,723 PSUs and
Mrs.Radis was granted 9,010 PSUs. The PSUs granted to each were
granted at a target level and, depending on Company performance,
the LTIP Agreement provides for a potential payout at 150% of the
target level. The LTIP Agreements provide potential long term
incentive compensation based on Company performance over a three
year performance period ending on December31, 2019. Each
performance share unit represents the right to receive one
Company common share. The common shares that may be earned depend
on continued service through the Compensation Committee
certification date shortly after the performance period and will
be determined based on the average base compensation over the
performance period and on Company performance in three separate
measures: (i)return on average equity versus peer group
performance – 33%; (ii) three year net income versus annual
budgeted net income over each of the three years 33%; and
(iii)three year total shareholder return versus peer group
performance 34%.

The summaries of the AIP Agreement and LTIP Agreement are
qualified in their entirety by reference to a copy of each which
is attached hereto as Exhibit 10.1 and Exhibit 10.2,
respectively, and incorporated by reference herein.

Section9 Financial Statements and Exhibits

Item9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number

Description

10.1 2017 Annual Incentive Award Agreement
10.2 2017 Long Term Incentive Award Agreement


About UNITED COMMUNITY FINANCIAL CORP. (NASDAQ:UCFC)

United Community Financial Corp. is a unitary thrift holding company for The Home Savings and Loan Company of Youngstown, Ohio (the Bank). The Bank operates through banking services segment. The Bank conducts its business through over 30 retail banking offices and loan production centers located throughout Ohio and western Pennsylvania. The Bank is engaged in the origination of mortgage loans, including construction loans on residential and nonresidential real estate located in Home Savings’ primary market area, which consists of Ashland, Columbiana, Cuyahoga, Erie, Franklin, Geauga, Huron, Lake, Mahoning, Portage, Richland, Stark, Summit and Trumbull Counties in Ohio and Allegheny and Beaver Counties in Pennsylvania. In addition to real estate lending, the Bank originates commercial loans and consumer loans.

UNITED COMMUNITY FINANCIAL CORP. (NASDAQ:UCFC) Recent Trading Information

UNITED COMMUNITY FINANCIAL CORP. (NASDAQ:UCFC) closed its last trading session down -0.02 at 8.52 with 48,211 shares trading hands.