REGIONS FINANCIAL CORPORATION (NYSE:RF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
REGIONS FINANCIAL CORPORATION (NYSE:RF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(d) On January 5, 2017, the Board of Directors (“Board”) of Regions Financial Corporation (“Regions”) appointed José S. Suquet to Regions’ Board, effective immediately. The appointment of Mr. Suquet increases the size of Regions’ Board to fourteen (14) members. There are no arrangements or understandings with other persons to which Mr. Suquet was selected as a Director.
Mr. Suquet is Chairman, President and CEO of Pan-American Life Insurance Group, a leading provider of insurance and financial services throughout the Americas. His term as a Class B Director of the Federal Reserve Bank of Atlanta expired on December 31, 2016.
Mr. Suquet was awarded restricted stock under the Regions Financial Corporation 2015 Long Term Incentive Plan, as of January 6, 2017, in an amount equal to $26,250, which is the prorated amount of the annual equity retainer paid to Regions’ compensation program for Directors that applies uniformly to all non-employee Directors. The restricted stock is subject to a continued service requirement, and the restrictions lapse on the date of the 2017 Annual Meeting of Stockholders, or earlier in the case of death or disability or upon termination without cause following a change of control of Regions.
Mr. Suquet was also appointed as a Director of Regions Bank, a wholly-owned subsidiary of Regions and will serve on the Risk Committee and the Compensation Committee of Regions’ Board of Directors.
ITEM 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Index
Exhibit No. Exhibit
99.1 Press Release dated January 5, 2017
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About REGIONS FINANCIAL CORPORATION (NYSE:RF)
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth. It provides traditional commercial, retail and mortgage banking services, as well as other financial services. REGIONS FINANCIAL CORPORATION (NYSE:RF) Recent Trading Information
REGIONS FINANCIAL CORPORATION (NYSE:RF) closed its last trading session up +0.05 at 14.48 with 8,194,546 shares trading hands.
Regions Financial Corporation is a financial holding company. The Company conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank, which is a member of the Federal Reserve System. It operates in three segments: Corporate Bank, which represents its commercial banking functions, including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships, and Wealth Management, which offers individuals, businesses, governmental institutions and non-profit entities a range of solutions to enable transfer of wealth. It provides traditional commercial, retail and mortgage banking services, as well as other financial services. REGIONS FINANCIAL CORPORATION (NYSE:RF) Recent Trading Information
REGIONS FINANCIAL CORPORATION (NYSE:RF) closed its last trading session up +0.05 at 14.48 with 8,194,546 shares trading hands.