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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
July 23, 1998
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(Date of earliest event reported)
Staten Island Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-13503 13-3958850
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
15 Beach Street, Staten Island, New York 10304
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(Address of principal executive offices) (Zip Code)
(718) 447-7900
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name, former address and former fiscal year, if changed since last
report)
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Item 5. Other Events
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On July 23, 1998, Staten Island Bancorp, Inc. (the "Company") announced
that its 1998 Stock Option Plan and its 1998 Recognition and Retention Plan were
approved by stockholders at a special meeting of stockholders held on July 10,
1998. The Company also announced that in order to fund the 1998 Recognition and
Retention Plan, the related trust intends to purchase shares of the Company's
common stock in the open market with funds contributed by the Company. The plan
trust also may purchase shares of common stock directly from the Company to fund
the plan. Purchases will be made from time to time at the discretion of
management of the Company and will amount to up to 1,719,250 shares, or 4%, of
the Company's outstanding common stock. For additional information, reference
is made to the Press Release, dated July 23, 1998, which is attached hereto as
Exhibit 99 and is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(a) Financial Statements.
Not Applicable.
(b) Pro Forma Financial Information.
Not Applicable
(c) Exhibits:
99 Press Release dated July 23, 1998
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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 thereunto duly authorized.
STATEN ISLAND BANCORP, INC.
Date: July 28, 1998 By: /s/Edward Klingele
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Edward Klingele
Senior Vice President
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EXHIBIT 99
STATEN ISLAND BANCORP
PRESS RELEASE
FOR IMMEDIATE RELEASE Contact: Donald C. Fleming
Sr. Vice President
JULY 23, 1998 Contact: (718) 447-7900 ext. 509
ANNOUNCEMENT:
STATEN ISLAND BANCORP, INC. ANNOUNCES APPROVAL OF
STOCK BENEFIT PLANS AND INITIATION OF OPEN-MARKET
STOCK PURCHASES TO FUND RECOGNITION PLAN
STATEN ISLAND, NEW YORK -- July 17, 1998 -- (NYSE: SIB) Staten Island
Bancorp, Inc. (the "Company") announced today that its 1998 Stock Option Plan
and its 1998 Recognition and Retention Plan were approved by stockholders at a
special meeting of stockholders held on July 10, 1998. The Company also
announced that in order to fund the 1998 Recognition and Retention Plan, the
related trust intends to purchase shares of the Company's common stock in the
open market with funds contributed by the Company. The plan trust also may
purchase shares of common stock directly from the Company to fund the plan.
Purchases will be made from time to time at the discretion of management of the
Company and will amount to up to 1,719,250 shares, or 4%, of the Company's
outstanding common stock.
Staten Island Bancorp, Inc. is the holding company for Staten Island
Savings Bank, which maintains a network of 16 full service branch offices and
three limited service branch offices in Staten Island, New York, and one branch
office in the Bay Ridge area of Brooklyn, New York. On June 30, 1998, the
Company had $3.0 billion of total consolidated assets, $2.3 billion of total
consolidated liabilities and $710.6 million of total stockholders' equity.
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