UNITED STATES
|
|||
SECURITIES AND EXCHANGE COMMISSION
|
|||
Washington, D.C. 20549
|
|||
FORM 10-K/A
|
|||
(Amendment No. 1)
|
|||
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)
|
|||
OF THE SECURITIES EXCHANGE ACT OF 1934
|
|||
For the fiscal year ended: December 31, 2009
|
|||
Peoples Bancorp of North Carolina, Inc.
|
|||
(Exact Name of Registrant as Specified in Its Charter)
|
|||
North Carolina
|
|||
(State or Other Jurisdiction of Incorporation)
|
|||
000-27205
|
56-2132396
|
||
(Commission File No.)
|
(IRS Employer Identification No.)
|
||
518 West C Street, Newton, North Carolina
|
28658
|
||
(Address of Principal Executive Offices)
|
(Zip Code)
|
||
(828) 464-5620
|
|||
(Registrant’s Telephone Number, Including Area Code)
|
|||
Securities Registered Pursuant to Section 12(b) of the Act: None
|
|||
Securities Registered Pursuant to Section 12(g) of the Act:
|
|||
Common Stock, no par value
|
|||
(title of class)
|
|||
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
|
Yes
|
o |
No
|
x |
Yes
|
o |
No
|
x |
Yes
|
x |
No
|
o |
Indicate by check mark if disclosure of delinquent filers in response to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x
|
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company.
|
Large Accelerate Filer
|
o |
Accelerated Filer
|
o |
Non-Accelerated Filer
|
o | Smaller Reporting Company | x |
Yes
|
o |
No
|
x |
State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked prices of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter. $27,086,476 based on the closing price of such common stock on June 30, 2009, which was $6.15 per share.
|
ITEM 12.
|
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
|
Plan Category
|
Number of securities to
be issued upon exercise
of outstanding option,
warrants and rights (1),
(2)
|
Weighted-average
exercise price of
outstanding options,
warrants and rights
(3)
|
Number of securities remaining
available for future issuance under
equity compensation plans
(excluding securities reflected in
column (a)) (4)
|
(a)
|
(b)
|
(c)
|
|
Equity compensation plans
approved by security holders
|
176,212
|
$8.04
|
360,000
|
Equity compensation plans not
approved by security holders
|
-
|
-
|
-
|
Total
|
176,212
|
$8.04
|
360,000
|
(1) Includes 176,212 stock options issued under the 1999 Omnibus Plan, which are fully vested as of December 31, 2009. Of the outstanding stock options, options to purchase a total of 19,391 options were granted on September 25, 2000; 63,544 options were granted on October 30, 2001; 7,510 options were granted on December 18, 2001; 72,966 options were granted on December 17, 2002; 3,630 options were granted on May 6, 2004; and 2,421 options were granted on December 16, 2004.
|
|||
(2) Includes 3,000 shares of restricted stock granted on September 20, 2007, 1,750 shares granted on March 20, 2008 and 2,000 shares granted on November 20, 2008 under the 1999 Omnibus Plan. These restricted stock grants cliff vest three years after issuance.
|
|||
(3) The exercise prices for the grants of stock options under the 1999 Omnibus Plan on September 25, 2000; October 30, 2001; December 18, 2001; December 17, 2002; May 6, 2004 and December 16, 2004 are: $6.99; $8.78; $8.10; $7.77; $10.31; and $10.57, respectively. All prices and shares have been adjusted for the 10% stock dividends paid March 16, 2005 and June 16, 2006 and the three-for-two stock split paid June 15, 2007. The exercise price used for the grants of restricted stock is $4.95, the closing price for the Company’s stock on December 31, 2009.
|
|||
(4) Reflects shares authorized under the February 19, 2009 Omnibus Stock Ownership and Long Term Incentive Plan. No shares have been issued under this plan as of December 31, 2009.
|
(3)
|
The following exhibits are included in this amendment.
|
Exhibit (31)(a)
|
Certification of principal executive officer pursuant to section 302 of the Sarbanes-
|
|
Oxley Act of 2002
|
||
Exhibit (31)(b)
|
Certification of principal financial officer pursuant to section 302 of the Sarbanes-
|
|
Oxley Act of 2002
|
||
Exhibit (32)
|
Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
|
|
906 of the Sarbanes-Oxley Act of 2002
|
SIGNATURES
|
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
PEOPLES BANCORP OF NORTH CAROLINA,
|
|||
INC. | |||
(Registrant) | |||
By:
|
/s/ Tony W. Wolfe
|
||
Tony W. Wolfe
|
|||
President and Chief Executive Officer
|
|||
Date: December 16, 2010 |