form8k2110.htm
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): February 1, 2010 (January 27,
2010)
______________
BANCORP
RHODE ISLAND, INC.
(Exact
name of registrant as specified in its charter)
______________
Rhode
Island
(State or
other jurisdiction of incorporation)
|
333-33182
|
05-0509802
|
|
(Commission
File Number)
|
(IRS
Employer Identification Number)
|
One
Turks Head Place, Providence, Rhode Island 02903
(Address
of principal executive offices)
(401)
456-5000
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Item
5.02. Compensatory Arrangements of Certain
Officers
On
January 27, 2010, the Board of Directors of Bancorp Rhode Island, Inc. (the
“Company”) accepted the recommendation of the Compensation Committee to award
discretionary cash bonuses to the Chief Executive Officer, the Chief Financial
Officer, the Chief Lending Officer and the Chief Information Officer in amounts
equal to 50% of the executive’s target award under the Company’s Executive Cash
Incentive Plan. The aggregate after-tax cost to the Company of the
bonuses awarded to these four executives was approximately
$185,000.
Item
9.01. Financial Statements and Exhibits
(c) Exhibits
Exhibit
No. Exhibit
None
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANCORP RHODE ISLAND,
INC.
By: /s/ Linda H.
Simmons
______________________________
Linda H.
Simmons
Chief Financial
Officer
Date: February
1, 2010