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): December 14, 2005
BCB BANCORP, INC.
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(Exact Name of Registrant as Specified in Charter)
New Jersey 0-50275 26-0065262
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(State or Other Jurisdiction) Commission File No.) (I.R.S. Employer
of Incorporation) Identification No.)
104-110 Avenue C, Bayonne, New Jersey 07002
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (201) 823-0700
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Not Applicable
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(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 (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry Into A Material Definitive Agreement
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On December 14, 2005, the Board of Directors of BCB Bancorp, Inc. (the
"Company") approved the accelerated vesting and exercisability of all unvested
and unexercisable stock options granted as a part of the 2003 and 2002 Stock
Option Plans of the Company held by directors, officers or employees on December
20, 2005. As a result, options to purchase 218,195 shares of common stock, which
would otherwise have vested and become exercisable from time to time over the
next three years, will become fully vested and immediately exercisable on
December 20, 2005. The number of shares and exercise prices of the options
subject to acceleration are unchanged. The accelerated options have exercise
prices that range from $5.29 to $11.84 per share. The accelerated options
include 194,964 options held by directors and executive officers and
23,231 options held by other employees.
The Company estimates that accelerating the vesting and exercisability of these
options will eliminate approximately $808,000 of compensation expense net of
income tax that would otherwise have been recorded in the Company's income
statements for future periods upon its adoption as of January 1, 2006, of FASB
Statement of Financial Accounting Standards No. 123R, Share-Based Payment.
SIGNATURES
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.
BCB BANCORP, INC.
DATE: December 19, 2005 By: /s/ Donald Mindiak
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Donald Mindiak
President and Chief Executive Officer