Current Report Filing (8-k)
July 06 2020 - 4:16PM
Edgar (US Regulatory)
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): June 30, 2020
DIME COMMUNITY BANCSHARES, INC.
(Exact name of the registrant as specified in its charter)
(718) 782-6200
(Registrant’s telephone number)
N/A
(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:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR
§240.12b-2).
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. □
Dime Community Bank, the wholly owned subsidiary of Dime Community Bancshares, Inc., reports that the last day of employment of Robert S. Volino, was June 30, 2020. Mr. Volino was previously Senior Executive Vice
President and Chief Operating Officer of Dime Community Bancshares, Inc. and Dime Community Bank.
Dime Community Bancshares, Inc. and Mr. Volino have terminated the Change in Control Employment Agreement dated February 1, 2019, which provided for certain severance payments, and Dime Community
Bank and Mr. Volino entered into an Agreement and General Release (the “Agreement”), pursuant to which Dime Community Bank will pay Mr. Volino $1,335,000 of transition pay, $493,017, in lieu of bonus pay and $574,051, representing the value of 41,810
previously granted awards of shares of Dime Community Bancshares, Inc. common stock (“DCOM”) based on the DCOM closing price on June 30, 2020. The Agreement includes non-disparagement and non-solicitation provisions and a full release of claims by
Mr. Volino.
The foregoing summary is qualified in its entirety by the full text of the Agreement. A copy of the Agreement is enclosed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01 Financial Statements
and Exhibits.
(d) Exhibits
Exhibit Description
SIGNATURE
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.
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