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) November 6, 2008 (October 17, 2008)

Pennsylvania Commerce Bancorp, Inc.
(Exact name of registrant as specified in its charter)

Pennsylvania
000-50961
25-1834776
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)

3801 Paxton Street, Harrisburg, Pennsylvania
17111
(Address of principal executive offices)
(Zip Code)


Registrant’s telephone number, including area code
800-653-6104
 

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:

[ ] 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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On October 17, 2008, the Board of Directors of Pennsylvania Commerce Bancorp, Inc. (the “Company”) ratified the following compensation changes, effective November 3, 2008, that had been approved by the Company’s Compensation Committee:


Base salary amounts and cash bonuses for the Company’s Chief Executive Officer, Chief Financial Officer and other Named Executive Officers:

Name
Title
 
Base Salary
   
Cash Bonus
 
Gary L. Nalbandian
Chairman, President and Chief Executive Officer
 
$
495,000
   
$
-0-
 
Mark A. Zody
Executive Vice President and Chief Financial Officer
 
$
240,000
   
$
12,000
 
Rory G. Ritrievi
Executive Vice President and Chief Lending Officer
 
$
265,000
   
$
12,000
 
James R. Ridd
Senior Vice President and Chief Credit Officer
 
$
180,000
   
$
6,000
 
D. Scott Huggins
Senior Vice President and Chief Risk Officer
 
$
180,000
   
$
6,000
 
 





 
 
 


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.
 
 
 
Pennsylvania Commerce Bancorp, Inc.
 
-----------------------------------------------
 
(Registrant)
   
   
Date: November 6, 2008
/s/ Mark A. Zody
 
-----------------------------------------------
 
Mark A. Zody
 
Chief Financial Officer
 
 
 
 
 
 
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