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<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington, D.C.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; 20549</font></b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>FORM<font style="font-family:Times New Roman, Times, serif;font-size:18pt;">&nbsp;8-K</font></b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CURRENT REPORT<br>
<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Pursuant to Section&nbsp;13 or 15(d)&nbsp;of the<br>
Securities Exchange Act of 1934</font></b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Date of Report <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">(Date</font></b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b> of earliest event reported): </b><b>October 3, 2017</b></font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>Oak Valley Bancorp</b><br>
<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">(Exact name of Registrant as Specified in its Charter)&nbsp;</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>California</b></p>
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			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>001-34142</b></p>
			</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>26-2326676</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or Other Jurisdiction of<br>
			<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Incorporation)</font></p>
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			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission File Number)</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(I.R.S. Employer <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Identification<br>
			Number)</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
			<td style="vertical-align: top; width: 33%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>125 N. Third Ave. </b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Oakdale, CA</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>&nbsp;</b><b>95361</b></font></p>
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			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of Principal Executive</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Offices including Zip Code)</p>
			</td>
			<td style="vertical-align: top; width: 33%;">&nbsp;</td>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(209) 848-2265</b><br>
<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">(Registrant&rsquo;s Telephone Number, including Area Code)</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Not Applicable</b><br>
<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">(Former Name or Former Address, if changed since last report)</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Check the appropriate box below if the Form<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:&nbsp;</font></p>

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			<td style="width: 18pt; font-family: Times\ New\ Roman; font-size: 10pt;">&#9744;</td>
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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
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			<td style="width: 18pt; font-family: Times\ New\ Roman; font-size: 10pt;">&#9744;</td>
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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></p>
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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></p>
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<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</font></p>

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			<p style="font-family: Times\ New\ Roman, Times, serif; margin: 0pt 0pt 0pt 36pt; text-align: left; font-size: 10pt;">Emerging growth company &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <font style="font-size:10pt;font-family:Times New Roman, Times, serif;">&#9744;</font></p>
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<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&#9744;</font></p>

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			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><b>Item <font style="font-size:10pt;font-family:Times New Roman, Times, serif;">5.02.</font></b></p>
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			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><b><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></b></p>
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			<td style="width: 36pt; font-family: Times\ New\ Roman; font-size: 10pt;"><font style="font-family:Times New Roman;font-size:10pt;">(d)</font></td>
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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman, Times, serif;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><u><i>Appointment of Allison C. Lafferty to </i></u><u><i>the </i></u><u><i>Board of Directors</i></u></font></p>
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<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">On October 3, 2017, <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">effective immediately, the Board of Directors (the &ldquo;<b>Board</b>&rdquo;) of Oak Valley Bancorp (the &ldquo;<b>Company</b>&rdquo;) appointed Ms. Allison C. Lafferty as a member of the Board of Directors to the class of directors whose term expires at the 2020 Annual Meeting or until her successor is duly elected and qualified. <b> </b>Ms. Lafferty qualifies as an independent director within the meaning of the applicable NASDAQ Stock Market listing rules and expects to be a member of the Loan Committee, Compensation Committee, and Nominating Committee. </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Ms. Lafferty will receive the standard non-employee director compensation, which includes a monthly cash retainer of <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">$3,000 and a director retirement agreement, which will be pro-rated for her services as a director. A more complete description of a non-employee director&rsquo;s compensation is described under the heading &ldquo;Director Compensation&rdquo; in the Company&rsquo;s definitive proxy statement filed on May 8, 2017 with the SEC for the 2017 Annual Meeting. </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">The above description of Ms. Lafferty<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s director retirement agreement is not complete and is qualified in its entirety by reference to the Director Retirement Agreement that will be filed as an exhibit to the Company&rsquo;s Form 10-K for the fiscal year ended December 31, 2017. </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Further information about <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Ms. Lafferty&rsquo;s appointment is contained in the press release issued by the Company, a copy of which is attached hereto as exhibit 99.1 </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">There are no arrangements or understandings between Ms. Lafferty and any other person, pursuant to which Ms. Lafferty was appointed to the Board. Further, there are no transactions involving Ms. Lafferty that require disclosure pursuant to Item 404(a) of Regulation S-K.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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			<td style="width: 72pt; font-family: Times\ New\ Roman; font-size: 10pt;"><b>Item 9.01. </b></td>
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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman, Times, serif;"><b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Financial Statements and Exhibits.</font></b></p>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">(d) Exhibits.</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Exhibit Number</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Exhibit Title or Description</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">99.1</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_96402.htm" style="-sec-extract:exhibit;">Press Release dated Oct<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">ober 6, 2017</font></a></p>
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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURES</b></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">its behalf by the undersigned hereunto duly authorized.&nbsp;</font></p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>OAK VALLEY BANCORP</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 2%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 40%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 58%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date: <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">October 6</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, 2017</font></p>
			</td>
			<td style="vertical-align: top; width: 2%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 40%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Jeffrey A. Gall</font></p>
			</td>
		</tr>
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			<td style="vertical-align: top; width: 58%;">&nbsp;</td>
			<td style="vertical-align: top; width: 2%;">&nbsp;</td>
			<td style="vertical-align: top; width: 40%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Jeffrey A. Gall</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Senior Vice President and Chief Financial Officer</p>
			</td>
		</tr>

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ovly20171006_8k.htm
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):
October 3, 2017
Oak Valley Bancorp
(Exact name of Registrant as Specified in its Charter)
California
001-34142
26-2326676
(State or Other Jurisdiction of
Incorporation)
(Commission File Number)
(I.R.S. Employer
Identification
Number)
125 N. Third Ave.
Oakdale, CA
95361
(Address of Principal Executive
Offices including Zip Code)
(209) 848-2265
(Registrant's Telephone Number, including Area Code)
Not Applicable
(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))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§
230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item
5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d)
Appointment of Allison C. Lafferty to
the
Board of Directors
On October 3, 2017,
effective immediately, the Board of Directors (the "
Board
") of Oak Valley Bancorp (the "
Company
") appointed Ms. Allison C. Lafferty as a member of the Board of Directors to the class of directors whose term expires at the 2020 Annual Meeting or until her successor is duly elected and qualified.
Ms. Lafferty qualifies as an independent director within the meaning of the applicable NASDAQ Stock Market listing rules and expects to be a member of the Loan Committee, Compensation Committee, and Nominating Committee.
Ms. Lafferty will receive the standard non-employee director compensation, which includes a monthly cash retainer of
$3,000 and a director retirement agreement, which will be pro-rated for her services as a director. A more complete description of a non-employee director's compensation is described under the heading "Director Compensation" in the Company's definitive proxy statement filed on May 8, 2017 with the SEC for the 2017 Annual Meeting.
The above description of Ms. Lafferty
's director retirement agreement is not complete and is qualified in its entirety by reference to the Director Retirement Agreement that will be filed as an exhibit to the Company's Form 10-K for the fiscal year ended December 31, 2017.
Further information about
Ms. Lafferty's appointment is contained in the press release issued by the Company, a copy of which is attached hereto as exhibit 99.1
There are no arrangements or understandings between Ms. Lafferty and any other person, pursuant to which Ms. Lafferty was appointed to the Board. Further, there are no transactions involving Ms. Lafferty that require disclosure pursuant to Item 404(a) of Regulation S-K.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number
Exhibit Title or Description
99.1
Press Release dated Oct
ober 6, 2017
2
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.
OAK VALLEY BANCORP
Date:
October 6
, 2017
By:
/s/
Jeffrey A. Gall
Jeffrey A. Gall
Senior Vice President and Chief Financial Officer
3