State Street Corporation (NYSE:STT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

State Street Corporation (NYSE:STT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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On March 29, 2018, State Street Corporation’s Board of Directors elected Sara Mathew and William Meaney as directors of the corporation. There are no arrangements or understandings between either of Ms. Mathew or Mr. Meaney and any other persons to which Ms. Mathew or Mr. Meaney, as the case may be, was elected as a director of the corporation. Ms. Mathew and Mr. Meaney will each be entitled to a pro rata share of the 2017-2018 $75,000 annual retainer and $150,000 stock retainer, as well as applicable meeting fees and other director compensation arrangements under terms consistent with those previously disclosed in State Street’s annual report on Form 10-K for the fiscal year ended December 31, 2017. The pro-rated stock award will be based on the closing price of State Street’s common stock on the New York Stock Exchange on the date of election. Ms. Mathew and Mr. Meaney will each be entitled to enter into an indemnification agreement with State Street Corporation consistent with the form of indemnification agreement entered into by State Street’s other non-employee directors and previously disclosed in Exhibit 10.17A to State Street’s annual report on Form 10-K for the fiscal year ended December 31, 2017.


About State Street Corporation (NYSE:STT)

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world. Its clients include mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers. It has approximately two lines of business: Investment Servicing and Investment Management. Its Investment Servicing line of business performs core custody and related value-added functions, such as providing institutional investors with clearing, payment and settlement services. Its Investment Management services through State Street Global Advisors (SSGA). SSGA provides a range of investment management, investment research and investment advisory services.

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