UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 14A

 

Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No.     )

 

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Soliciting Material Pursuant to §240.14a-12

 

SVB FINANCIAL GROUP

(Name of Registrant as Specified In Its Charter)

 

 

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GRAPHIC

 

May 11, 2006

 

Fidelity Management & Research Company
Investment Proxy Research Group
19 Congress Street
Boston, MA 02109

ATTN: Sean F. Hanna

 

Re: SVB Financial Group 2006 Equity Incentive Plan (the "Plan")

 

Dear Mr. Hanna:

 

In connection with our discussions with you regarding the Plan, we hereby confirm to you that:

 

1.

 

SVB management will recommend to the Board of Directors’ Compensation Committee at a regularly-scheduled meeting during the next fiscal year that the Plan adopt amendments to require serial vesting over a minimum three year period for full value awards granted to employees regardless of position, and a minimum period of one year for full value performance-contingent awards granted to employees regardless of position. We will further recommend that the Plan adopt an amendment to Section 4(b)(vi) to limit the Administrator’s authority to accelerate such vesting periods to only the cases of death, disability, retirement or change in control.

 

 

 

2.

 

The total number of shares of our Common Stock subject to our stock options, restricted stock awards, restricted stock unit awards, stock bonus awards and any other equity awards granted under the Plan during a fiscal year will not exceed two and one-half percent (2.5%) of the total number of shares of Common Stock outstanding as of the beginning of the fiscal year.

 

Very truly yours,

 

SVB FINANCIAL GROUP

 

/s/ JACK JENKINS-STARK

 

Jack Jenkins-Stark

Chief Financial Officer