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)
June 1, 2017
 
Prudential Bancorp, Inc.
(Exact name of registrant as specified in its charter)
 
Pennsylvania
000-55084
46-2935427
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
  
Identification No.)
 
1834 West Oregon Avenue, Philadelphia, Pennsylvania
  
19145
  
(Address of principal executive offices)
  
(Zip Code)
 
Registrant's telephone number, including area code
(215) 755-1500
 
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 (see General Instruction A.2 below):
 
[  ]
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))
 
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company [  ]
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

Item 5.02
  
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
 
(a)-(d)       Not applicable.

(e) Effective June 1, 2017, Prudential Bank (the "Bank"), the wholly owned subsidiary of Prudential Bancorp, Inc. (the "Company"), entered into Split-Dollar Endorsement Agreements with Dennis Pollack, President and Chief Executive Officer, Anthony V. Migliorino, Executive Vice President and Chief Operating Officer, Jack E. Rothkopf, Senior Vice President and Chief Financial Officer, and Jeffrey T. Hanuscin, First Vice President and Controller, respectively (collectively the "Agreements"). With respect to Messrs. Rothkopf and Hanuscin, such agreements supersede split-dollar endorsement agreements previously entered into with such officers dated August 29, 2012 and August 14, 2014, respectively. The Agreements provide that the officer's beneficiary will receive an amount equal to the lesser of (i) two times the officer's annualized base salary at the date of death plus $100,000 reduced by any amount payable under the Bank's group term life insurance plan or (ii) the Net Amount at Risk (as such term is defined in the Agreements) (the "Executive's Interest"). The Bank will receive any amount of death benefits in excess of the Executive's Interest. The Agreements may be terminated at any time by the Bank or the officer and, in such event, the Bank will collect the cash surrender value or the death proceeds of the policies, as applicable, at the date of termination of the policy.

     For additional information, reference is made to the Agreements which are included as Exhibits 10.1, 10.2, 10.3 and 10.4 hereto and which are incorporated herein by reference thereto. The foregoing description of the Agreements is qualified in its entirety by reference to the complete terms and conditions of the Agreements attached hereto as Exhibits 10.1, 10.2, 10.3 and 10.4.

(f) Not applicable.

 
Exhibit No.
  
Description
 
10.1
  
Split Dollar Endorsement Agreement dated June 1, 2017, between Dennis Pollack and the Bank
 
10.2
  
Split-Dollar Endorsement Agreement dated June 1, 2017 between Anthony V. Migliorino and the Bank
 
10.3
  
Split Dollar Endorsement Agreement dated June 1, 2017 between Jack E. Rothkopf and the Bank
 
10.4
  
Split Dollar Endorsement Agreement dated June 1, 2017 between Jeffrey T. Hanuscin and the Bank
 
 
 
 
 
 
 
 
 
 
2
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.

   
PRUDENTIAL BANCORP, INC.
         
         
   
By:
/s/ Jack E. Rothkopf
   
Name:
Jack E. Rothkopf
   
Title:
Senior Vice President, Chief Financial Officer and
   Treasurer
       
Date: June 6, 2017
    

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3
EXHIBIT INDEX
 

Exhibit No.
  
Description
10.1
  
Split Dollar Endorsement Agreement dated June 1, 2017, between Dennis Pollack and the Bank
     
10.2
  
Split-Dollar Endorsement Agreement dated June 1, 2017 between Anthony V. Migliorino and the Bank
     
10.3
  
Split Dollar Endorsement Agreement dated June 1, 2017 between Jack E. Rothkopf and the Bank
     
10.4
  
Split Dollar Endorsement Agreement dated June 1, 2017 between Jeffrey T. Hanuscin and the Bank