Ohio
(State
or other jurisdiction
of
incorporation)
|
0-12379
(Commission
File Number)
|
31-1042001
(IRS
Employer
Identification
No.)
|
4000
Smith Road, Suite 400
Cincinnati,
Ohio
(Address
of principal executive offices)
|
45209
(Zip
Code)
|
·
|
Claude
E. Davis, President & CEO
|
·
|
C.
Douglas Lefferson, EVP & Chief Operating
Officer
|
·
|
J.
Franklin Hall, EVP & Chief Financial
Officer
|
·
|
Gregory
A. Gehlmann, SVP & General
Counsel
|
·
|
Samuel
J. Munafo, EVP - Banking Markets
|
·
|
Mr.
Davis’ target total compensation for 2009 is expected to decrease by
approximately 14% when compared to his actual total compensation in
2008.
|
·
|
There
was no increase in the base salaries of Named Executive Officers
Lefferson, Hall, Gehlmann, and
Munafo.
|
·
|
Target
total compensation for 2009 for the Named Executive Officers, excluding
Mr. Davis, is not expected to change from their actual total compensation
in 2008.
|
·
|
The
Named Executive Officers will not be eligible to participate in the 2009
Short-Term Incentive Plan of the Company (“STIP”) due to recent
legislation prohibiting cash bonuses to the top five compensated
executives of those institutions participating in the Capital Purchase
Plan (“CPP”) as describe later
herein.
|
·
|
Due
to the Company’s participation in the CPP, no options were issued to the
Named Executive Officers and only restricted stock was
granted.
|
·
|
Restricted stock vests over a 4-year period, but cannot fully vest as long as the Company is in the CPP. |
Number
of
|
|||||||||||||||||||||||
Short-
|
Shares
|
Value
of
|
|||||||||||||||||||||
Term
|
Number
of
|
Value
of
|
Underlying
|
Stock
|
|||||||||||||||||||
Incentive
|
Shares
of
|
Shares
of
|
Stock
|
Option
|
|||||||||||||||||||
Named
Executive Officer
|
Base
|
Target
|
Restricted
|
Restricted
|
Option
|
Grant
|
|||||||||||||||||
and Principal
Position_____________
|
Salary (1)
|
Percentage(2)
|
Stock (3)
|
Stock (4)
|
Grant (5)
|
__(5)__
|
|||||||||||||||||
Claude
E. Davis
President
& Chief Executive Officer
|
$ |
595,000
|
n/a
|
40,451
|
$
|
465,996
|
0
|
0
|
|||||||||||||||
C.
Douglas Lefferson
Executive
Vice President & Chief Operating Officer
|
285,000
|
n/a
|
15,993
|
184,239
|
0
|
0
|
|||||||||||||||||
J.
Franklin Hall
Executive
Vice President & Chief Financial Officer
|
260,000
|
n/a
|
13,486
|
155,359
|
0
|
0
|
|||||||||||||||||
Gregory
A. Gehlmann
Senior
Vice President & General Counsel
|
260,000
|
n/a
|
13,366
|
153,976
|
0
|
0
|
|||||||||||||||||
Samuel
J. Munafo
Executive
Vice President, Banking Markets
|
250,000
|
n/a
|
12,296
|
141,650
|
0
|
0
|
(1)
|
Reflects
no increase from 2008 base salaries, except for Mr. Davis.
|
||
(2)
|
Named
Executive Officers currently are not eligible to participate in the STIP
in 2009.
|
||
(3)
|
Restricted
stock vests equally over four years beginning April 13, 2010.
|
||
(4)
|
The
value of the restricted stock awards is based upon the closing price of
the Company’s common shares as of April 13, 2009, which was $11.52
per share.
|
||
(5)
|
No
options were granted to the Named Executive Officers.
|
||
Form
8-K
|
First
Financial Bancorp.
|
FIRST
FINANCIAL BANCORP.
|
|||
|
By:
|
/s/ J. Franklin Hall | |
J.
Franklin Hall
|
|||
Executive
Vice President and
Chief
Financial Officer
|
|||