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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 |
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FORM 8-K
CURRENT REPORT |
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Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934 |
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Date of Report: December 3, 2008 (Date of earliest event reported) |
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Umpqua Holdings Corporation (Exact Name of Registrant as Specified in Its Charter) |
| OREGON | 000-25597 | 93-1261319 | ||
| (State or Other Jurisdiction of | (Commission File | (I.R.S. Employer | ||
| Incorporation or Organization) | Number) | Identification Number) |
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One SW Columbia, Suite 1200 Portland, Oregon 97258 (address of Principal Executive Offices) (Zip Code)
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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.
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(b) , (e) |
On December 4, 2008, Umpqua Holdings Corporation issued a press release announcing that David Edson, Executive Vice President of Umpqua and President of Umpqua Bank/Commercial Banking, is retiring March 2, 2009. Pursuant to the terms of his Employment Agreement, Mr. Edson will execute a Release of Claims upon termination of employment and he has entered into a Separation Agreement and Release of Claims that provides for twelve monthly payments following termination equal to his base monthly salary of $31,250 plus $1,000 per month for twelve months to assist with health insurance payments. Umpqua is not obligated to make the payments unless Mr. Edson complies with confidentiality, non-solicitation and non-competition covenants following his retirement.
| Item 9.01 | Financial Statements and Exhibits. | |||
| (a) | Not applicable. | |||
| (b) | Not applicable. | |||
| (c) | Not applicable. | |||
| (d) | Exhibits. | |||
| 99.1 Press Release | ||||
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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.
| UMPQUA HOLDINGS CORPORATION | ||
| (Registrant) | ||
| Dated: December 4, 2008 | By: /s/ Steven L. Philpott | |
| Steven L. Philpott | ||
| Executive Vice President/General Counsel | ||