Berkshire Hills Bancorp, Inc., Announces Stockholder Approval of the Berkshire Hills Bancorp, Inc. 2001 Stock-Based Incentive Plan.Business Editors PITTSFIELD, Mass.--(BUSINESS WIRE)--Jan. 23, 2001 Berkshire Hills Berkshire Hills (bûrk`shər, –shĭr), mountainous region of wooded hills with many small lakes and streams, W Mass. The Berkshires are a southern extension of the Green Mts. Bancorp, Inc. (the "Company"), (AMEX AMEX See: American Stock Exchange : BHL BHL Bleeding-Heart Liberal BHL Battle Handover Line BHL Breath Hydrogen Level BHL Biohazard Level BHL Bottom of Heated Length BHL Bachelor of Hebrew Letters/Literature BHL Bilateral Hilar Lymphadenomegaly BHL Back-Hoe Loader ), the holding company for Berkshire Bank (the "Bank"), announced today that its stockholders approved the Berkshire Hills Bancorp, Inc. 2001 Stock-Based Incentive Plan at a special meeting of shareholders held today. The Berkshire Hills Bancorp, Inc. 2001 Stock-Based Incentive Plan is authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: to grant up to 767,376 shares for options and 306,950 shares for restricted stock awards. All employees and non-employee Directors of the Company and its affiliates are eligible to receive awards under the plan. In order to fund stock awards which are authorized under the Stock-Based Incentive Plan, the Company will, as soon as is practicable practicable adj. when something can be done or performed. , establish a trust which intends to purchase 4% (or 306,950 shares) of the Company's outstanding shares of common stock in open market transactions with funds contributed by the Company. Such purchases will be made from time to time at the discretion of the trustee. Berkshire Hills Bancorp, Inc., (AMEX: BHL), is the holding company for Berkshire Bank established in 1846, Berkshire Bank is one of Massachusetts' oldest and largest independent banks and is the largest banking institution based in Western Massachusetts. The Bank is headquartered in Pittsfield, Massachusetts "Pittsfield" redirects here. For other places named Pittsfield, see Pittsfield (disambiguation). Pittsfield is the largest city and county seat of Berkshire County, Massachusetts, United States. with 11 branch offices serving communities throughout Berkshire County. As of September 30, 2000, Berkshire Hills Bancorp, Inc. had assets of $983.2 million. Berkshire Hills Bancorp, Inc.'s common stock began trading on the AMEX Stock Exchange on June 27, 2000, following its conversion to a stock holding company. Statements contained in this news release, which are not historical facts, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Legislation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Security and Exchange Commission from time to time. |
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