Pacific Crest Opts to Pay Director Fees With Stock

Pacific Crest Capital’s shareholders have approved a plan to pay some or all director fees with company stock instead of cash.

The board of directors for the Agoura Hills company also approved a plan to repurchase up to 30,000 shares on the open market. Some of the shares may be used in the directors’ stock purchase plan.

The plan to allow directors to be paid in stock was approved by 99% of the shareholders who voted, company officials said.

Pacific Crest Capital is a holding company that offers lending and deposit programs through its loan company, Pacific Crest Investment and Loan. It specializes in providing financing to small businesses, entrepreneurs and investors.