First Bancorp (NASDAQ:FBNC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 6, 2017, First Bancorp (the “Company”), the holding company for First Bank, entered into the Second Amendment of the Employment Agreement by and between the Company and its Chief Executive Officer, Richard H. Moore (the “Second Amendment”). The Second Amendment, which was approved by the Company’s Compensation Committee and Board of Directors, modifies the annual long-term incentive awards of restricted stock that the Committee may grant, in its discretion.
The foregoing description of the Second Amendment is qualified in its entirety by reference to the full text of the Second Amendment, a copy of which is filed as Exhibit 10.1 to this Report and is incorporated herein by reference.
Item 5.03 Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year
On February 6, 2018, the Board of Directors of the Company adopted Amended and Restated Bylaws. The primary modifications effected were to include enhanced remote shareholder participation provisions available under applicable North Carolina corporate law; to clarify the duties and responsibilities of executive officers; to add provisions of applicable North Carolina corporate law pertaining to the creation of Board committees and limitations upon the authority of such committees; to remove provisions no longer relevant or not effective under applicable North Carolina corporate law; and, to group related provisions organizationally in a more consistent fashion.
The foregoing description of the Amended and Restated Bylaws is qualified in its entirety by reference to the full text of the Amended and Restated Bylaws, a copy of which is filed as Exhibit 3.1 to this Report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
FIRST BANCORP /NC/ ExhibitEX-3.1 2 ex3-1.htm EX-3.1 Exhibit 3.1 AMENDED AND RESTATED BYLAWS OF FIRST BANCORP INDEX TO AMENDED AND RESTATED BYLAWS of FIRST BANCORP ARTICLE 1. Offices 1 Section 1. Principal and Registered Office 1 Section 2. Other Offices 1 ARTICLE 2. Meetings of Shareholders 1 Section 1. Place of Meeting 1 Section 2. Annual Meeting 1 Section 3. Substitute Annual Meeting 2 Section 4. Special Meetings 2 Section 5. Record Date; Notice of Meetings 2 Section 6. Quorum 3 Section 7. Conduct of Business 3 Section 8. Shareholders’ List 3 Section 9. Voting of Shares 3 Section 10. Proxies 4 ARTICLE 3. Board of Directors 4 Section 1. General Powers 4 Section 2. Number,…To view the full exhibit click here
About First Bancorp (NASDAQ:FBNC)
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Company engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Company offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers. In addition, the Company offers Internet banking, mobile banking, cash management and bank-by-phone capabilities to its customers. The Company also offers a mobile check deposit feature for its mobile banking customers that allows them to deposit checks through their smartphone. The Company offers remote deposit capture for its business customers. The Company conducts business from approximately 90 branches. The Bank’s subsidiaries include First Bank Insurance Services, Inc. (First Bank Insurance) and First Troy SPE, LLC.
