-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 AGBufsPkwpqBBLQbt2C360DOHXJ+/K+0s5RKnZKlNMbz5fTj3GUgkqjt/6Jt+hWw
 GrMHEtoyOqiZ04MiRQAnKw==

<SEC-DOCUMENT>0000950152-09-000662.txt : 20090127
<SEC-HEADER>0000950152-09-000662.hdr.sgml : 20090127
<ACCEPTANCE-DATETIME>20090127112945
ACCESSION NUMBER:		0000950152-09-000662
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090112
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
FILED AS OF DATE:		20090127
DATE AS OF CHANGE:		20090127

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MIDDLEFIELD BANC CORP
		CENTRAL INDEX KEY:			0000836147
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				341585111
		STATE OF INCORPORATION:			OH

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-32561
		FILM NUMBER:		09547158

	BUSINESS ADDRESS:	
		STREET 1:		15985 E HIGH ST
		STREET 2:		P O BOX 35
		CITY:			MIDDLEFILED
		STATE:			OH
		ZIP:			44062-9263
		BUSINESS PHONE:		4406321666

	MAIL ADDRESS:	
		STREET 1:		15985 EAST HIGH STREET
		STREET 2:		P O BOX 35
		CITY:			MIDDLEFIELD
		STATE:			OH
		ZIP:			44062-9263
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l34495ae8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>FORM 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of<BR>
The Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (date of earliest event reported): January&nbsp;12, 2009</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Middlefield Banc Corp.</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Exact name of registrant specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Ohio
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">000-32561
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">34-1585111</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">15985 East High Street, Middlefield, Ohio
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">44062-0035</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code <u>(440)&nbsp;632-1666</u></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&#091;not applicable&#093;</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Former name or former address, if changed since last report)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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 (see General Instruction
A.2. below):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5.02 Compensatory Arrangements of Certain Officers</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At The Middlefield Banking Company&#146;s January&nbsp;12, 2009 meeting, the board of directors took a
number of actions affecting officer compensation, including determining the compensation of
President and Chief Executive Officer Thomas G. Caldwell, Executive Vice President and Chief
Operating Officer James R. Heslop, II, and Chief Financial Officer and Treasurer Donald L. Stacy.
Base salary in 2009 for Mr.&nbsp;Caldwell will be $226,935 (an increase of $5,535), for Mr.&nbsp;Heslop
$179,375 (an increase of $4,375), and for Mr.&nbsp;Stacy $132,825 (an increase of $6,325). Base salary
in 2009 for Senior Vice President/Senior Loan Officer Jay P. Giles is $120,000 (an increase of
$7,160) and was determined in December, 2008. None of these officers is a party to an employment
agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Middlefield Banc Corp.&#146;s Equity Plan Committee administers the 2007 Omnibus Equity Plan. At
its November&nbsp;10, 2008 meeting, the Equity Plan Committee awarded Mr.&nbsp;Caldwell an incentive stock
option to acquire 1,000 shares of Middlefield Banc Corp. common stock and a nonqualified stock
option to acquire 1,500 shares of Middlefield Banc Corp. common stock. Messrs.&nbsp;Heslop, Stacy, and
Giles were also awarded incentive stock options to acquire 1,000, 1,000, and 500 shares of
Middlefield Banc Corp. common stock, respectively. The Equity Plan Committee also awarded
nonqualified stock options to acquire 1,500 shares of Middlefield Banc Corp. common stock to each
outside director of The Middlefield Banking Company and Emerald Bank. All options vest and become
exercisable in one year and are exercisable no later than November&nbsp;9, 2018, at an exercise price of
$23.00 per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lastly, Middlefield&#146;s Compensation Committee moved to continue for 2009 the Annual Incentive
Plan, a short-term cash incentive plan initially adopted in 2003 that is designed to reward
employees with additional cash compensation if specified objectives are achieved. The objectives
are tied to the strategic and financial plans of Middlefield Banc Corp.&#146;s banking subsidiaries.
Each employee has pre-determined goals and is provided with a quarterly report of his or her
achievement of the goals. For 2009, the only bank-wide performance measure that will apply is
targeted net income.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If targeted performance is achieved in 2009, Mr.&nbsp;Caldwell could receive a cash bonus in an
amount equal to 20% of his base salary if performance is 105% of the target, up to 30% of his base
salary if performance is 110% of the target, or only 10% if performance achieves the target.
Messrs.&nbsp;Heslop and Stacy could receive a cash bonus in an amount equal to 15% of their salaries if
performance is 105% of the target, up to 20% if performance is 110% of the target, or only 10% if
performance achieves the target. Mr.&nbsp;Giles could receive a cash bonus ranging from an amount equal
to 7.5% of his salary if the target is achieved, 10% of his salary if performance is 105% of the
target, or 12.5% if performance is 110% of the target. Distributions under the plan are made in
the first quarter of the year if the established goals for the preceding year are achieved. The
Annual Incentive Plan may be terminated by the Board at any time.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Signatures</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Middlefield Banc Corp.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: January 27, 2009&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ James R. Heslop, II
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">James R. Heslop, II&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Executive Vice President and COO&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
