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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) January 17, 2006
FIRST BUSEY CORPORATION
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(Exact name of registrant as specified in its charter)
Nevada 0-15959 37-1078406
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
201 W. Main St., Urbana, IL 61801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (217) 365-4513
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(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 240.13a-4(c))
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Effective January 17, 2006, the Registrant's Board of Directors approved 2005
cash bonus payments to executive officers in the following amounts set forth
below opposite the name of such officer:
OFFICER CASH BONUS PAYMENT
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Barbara J. Harrington $ 12,000
Barbara J. Kuhl $ 119,000
P. David Kuhl $ 122,500
David D. Mills $ 87,500
Douglas C. Mills $ 350,000
Edwin A. Scharlau $ 114,000
The foregoing cash payments are pursuant to the Management and Associate
Dividend Program, or the "MAD program" based on the fiscal year 2005 earnings
per share goal determined by the Compensation Committee at the beginning of 2005
and was achieved by the Registrant.
SIGNATURE
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.
Date: January 19, 2006 FIRST BUSEY CORPORATION
By: /s/ Barbara J. Kuhl
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Name: Barbara J. Kuhl
Title: President