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): July 26, 2010
LEGACY BANCORP, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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000-51525
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20-3135053
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State of Other Jurisdiction
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Commission File Number
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I.R.S. Employer
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of Incorporation
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Identification Number
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99 North Street, Pittsfield, Massachusetts 01201
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code:
(413) 443-4421
Not Applicable
(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17CFR240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act(17CFR240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act(17CFR240.13e-4(c))
ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.
On July 26, 2010, the Boards of Directors of Legacy Bancorp, Inc. (the Company) and
Legacy Banks (the Bank), a wholly-owned subsidiary of the Company, voted to terminate the Banks
Employee Stock Ownership Plan (the Plan), effective August 1, 2010. As of June 30, 2010, the
Plan held 784,641 shares, or approximately 9% of the Companys total outstanding shares of common
stock, of which 549,792 shares are unallocated. The Bank will file a request for a favorable
determination letter with the Internal Revenue Service on the tax-qualified status of the Plan on
termination. On and after termination of the Plan, no further contributions will be made on the
outstanding Plan loan. Those payments previously made in the current Plan year will cause the
release of approximately 27,490 shares from the unallocated stock fund and those shares will be
allocated to participants for the year in which the Plan terminates.
In connection with the termination of the Plan and upon receipt of the favorable determination
letter from the Internal Revenue Service, the Plan Trustee will transfer approximately 522,302
shares to LB Funding Corp., a wholly-owned subsidiary of the Company, to satisfy the Plan loan.
Upon such transfer, the 522,302 shares will be treated as treasury stock. If the shares in the
unallocated stock fund are insufficient to repay the outstanding loan in full, the Company intends
to forgive the remaining balance, subject to Internal Revenue Service approval.