"Form 8-K"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 8, 2005 (December 5, 2005)
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BANCORP RHODE ISLAND, INC.
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(Exact name of registrant as specified in its charter)
Rhode Island
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(State or other jurisdiction of incorporation)
333-33182 05-0509802
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(Commission File Number) (IRS Employer Identification Number)
One Turks Head Place, Providence, Rhode Island 02903
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(Address of principal executive offices)
(401) 456-5000
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
ITEM 1.01. ENTRY INTO MATERIAL DEFINITIVE AGREEMENT
On December 5, 2005, the Compensation Committee (the "Committee") of the Board
of Directors of Bancorp Rhode Island, Inc. (the "Registrant") approved an
increase in the maximum annual bonus opportunity under the Registrant's
Executive Cash Bonus Policy available to James V. DeRentis, Chief Business
Officer of Bank Rhode Island (the "Bank"), a wholly owned subsidiary of the
Registrant, from 40% of his base salary to 50%. This modification was made in
connection with the promotion of Mr. DeRentis to Chief Business Officer of the
Bank.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit No. Exhibit
None.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
BANCORP RHODE ISLAND, INC.
By: /s/ Linda H. Simmons
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Linda H. Simmons
Treasurer and Chief Financial Officer
Date: December 8, 2005