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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 12pt;"><b>UNITED STATES<br>
<font style="font-family: Times New Roman, Times, serif; font-size: 12pt;">SECURITIES AND EXCHANGE COMMISSION</font></b><font style="font-family: Times New Roman, Times, serif; font-size: 12pt;"> </font></p>

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

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

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

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

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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Date of Report (Date of Earliest Event Reported): <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; December 21, 2016 </font></p>

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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 24pt;"><b>Plumas Bancorp</b><font style="font-family: Times New Roman, Times, serif; font-size: 24pt;">&nbsp;</font></p>

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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Exact name of registrant as specified in its charter)</p>

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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">California<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</font></p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">000-49883</p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">75-2987096</p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(State or other jurisdiction<br>
			<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">of incorporation) </font></p>
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			<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">File Number) </font></p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(I.R.S. Employer<br>
			<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Identification No.)</font></p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">35 S. Lindan Avenue<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">, Quincy, CA&nbsp;</font></p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">95971</p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Address of principal executive offices)</p>
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			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Zip Code)</p>
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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Registrant<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&rsquo;s telephone number, including area code &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (530)283-7305 </font></p>

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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Not Applicable</p>

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<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Former name or former address, if changed since last report</p>

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

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">[ ] Written communications pursuant to Rule<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;425 under the Securities Act (17 CFR 230.425) </font></p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">[ ] Soliciting material pursuant to Rule<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>

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

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">[ ] Pre-commencement communications pursuant to Rule<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;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-family: Times New Roman, Times, serif; font-size: 10pt;">[ ] Pre-commencement communications pursuant to Rule<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of</b><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><b> </b><b>Certain Officers.</b></font></p>

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

<p style="margin: 0pt; text-align: justify; font-family: Times New Roman, Times, serif; font-size: 10pt;">(<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">e) </font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>201</i><i>7</i><i> Incentive Plan</i>&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

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<p style="margin: 0pt; text-align: justify; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">On <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">December 21, 2017, the Board of Directors of Plumas Bancorp (the &ldquo;Company&rdquo;) approved the Company&rsquo;s cash non-equity incentive plan for 2017 (the &ldquo;2017 NEI&rdquo;, the &ldquo;Plan&rdquo;). Eligible employees under the 2017 NEI include all officers of Plumas Bank (the &ldquo;Bank&rdquo;) who have reached, at a minimum, the level of Assistant Vice President. Incentives are payable under the 2017 NEI once the Bank has reached 80% of budgeted pretax, pre-bonus income. The maximum total bonus pool available for distribution is $1,086,000 at 120% of budgeted pretax, pre-bonus income. At budget, the bonus pool would total $754,000. Up to 13% of the pool could be allocated to Mr. Andrew Ryback, the Company&rsquo;s Chief Executive Officer and President. Executive Vice Presidents each can earn up to 5% of the bonus pool. Under the 2017 NEI, cash incentive payments to the Company&rsquo;s Chief Executive Officer and President will be based 60% on pretax, pre-bonus income targets, 20% upon the attainment of performance goals, and 20% upon various performance metrics. Cash incentive payments for the Company&rsquo;s Executive Vice Presidents will be based 70% on pretax, pre-bonus income targets, 10% upon the attainment of performance goals, and 20% upon various performance metrics. Goals and metrics for the Company&rsquo;s Chief Executive Officer and President include targeted increases in loans and deposits, continued improvement in asset quality, targeted levels of ROE and ROA compared to a select group of peer institutions and promoting efficiency in the lending area. At budget, the maximum amount of incentive payment that can be earned by the Company&rsquo;s Chief Executive Officer and President is $98,000 and for each Executive Vice President the maximum incentive payable at budget would be $38,000. At 120% or more of budget, the maximum amount of incentive payment that can be earned by the Company&rsquo;s Chief Executive Officer and President is $141,000 and for each Executive Vice President the maximum incentive payable would be $54,000. The board has the ability to terminate or modify the Plan and payouts under the Plan are subject to board approval. The Plan does not given any employee the right to or guarantee of continued employment.</font></p>

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

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

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			<p style="margin: 0pt 0pt 0pt 2.65pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Plumas Bancorp<br>
			<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">(Registrant)</font></p>
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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>December 23</i><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>, 2016</i>&nbsp;</font></p>
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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>By:</i><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</font></p>
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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
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			<p style="margin: 0pt 0pt 0pt 8.4pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>/s/<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;</font></i><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>Richard L. Belstock</i></font></p>
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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
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			<p style="margin: 0pt 0pt 0pt 8.4pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>Name: </i><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>Richard L. Belstock</i><br>
			<i>Title: Chief</i><i>&nbsp;</i><i>Financial Officer</i></font></p>
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{"company-data": {"conformed-name": "PLUMAS BANCORP", "cik": "0001168455", "assigned-sic": "6153", "irs-number": "752987096", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-49883", "film-number": "162068376"}, "business-address": {"street1": "35 S LINDEN AVENUE", "city": "QUINCY", "state": "CA", "zip": "95971", "phone": "5302837305"}}
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):
December 21, 2016
Plumas Bancorp
(Exact name of registrant as specified in its charter)
California
000-49883
75-2987096
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
35 S. Lindan Avenue
, Quincy, CA
95971
(Address of principal executive offices)
(Zip Code)
Registrant
's telephone number, including area code       (530)283-7305
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))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
(
e)
201
7
Incentive Plan
On
December 21, 2017, the Board of Directors of Plumas Bancorp (the "Company") approved the Company's cash non-equity incentive plan for 2017 (the "2017 NEI", the "Plan"). Eligible employees under the 2017 NEI include all officers of Plumas Bank (the "Bank") who have reached, at a minimum, the level of Assistant Vice President. Incentives are payable under the 2017 NEI once the Bank has reached 80% of budgeted pretax, pre-bonus income. The maximum total bonus pool available for distribution is $1,086,000 at 120% of budgeted pretax, pre-bonus income. At budget, the bonus pool would total $754,000. Up to 13% of the pool could be allocated to Mr. Andrew Ryback, the Company's Chief Executive Officer and President. Executive Vice Presidents each can earn up to 5% of the bonus pool. Under the 2017 NEI, cash incentive payments to the Company's Chief Executive Officer and President will be based 60% on pretax, pre-bonus income targets, 20% upon the attainment of performance goals, and 20% upon various performance metrics. Cash incentive payments for the Company's Executive Vice Presidents will be based 70% on pretax, pre-bonus income targets, 10% upon the attainment of performance goals, and 20% upon various performance metrics. Goals and metrics for the Company's Chief Executive Officer and President include targeted increases in loans and deposits, continued improvement in asset quality, targeted levels of ROE and ROA compared to a select group of peer institutions and promoting efficiency in the lending area. At budget, the maximum amount of incentive payment that can be earned by the Company's Chief Executive Officer and President is $98,000 and for each Executive Vice President the maximum incentive payable at budget would be $38,000. At 120% or more of budget, the maximum amount of incentive payment that can be earned by the Company's Chief Executive Officer and President is $141,000 and for each Executive Vice President the maximum incentive payable would be $54,000. The board has the ability to terminate or modify the Plan and payouts under the Plan are subject to board approval. The Plan does not given any employee the right to or guarantee of continued employment.
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.
Plumas Bancorp
(Registrant)
December 23
, 2016
By:
/s/
Richard L. Belstock
Name:
Richard L. Belstock
Title: Chief
Financial Officer