SunTrust Banks, Inc. (NYSE:STI) 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.
On November 15, 2017, the Board of Directors of SunTrust Banks, Inc. (the “Company”) appointed Steven C. Voorhees as a director of the Company effective as of January 1, 2018. The Company issued a news release on November 16, 2017 announcing the appointment, which the Company files as Exhibit 99.1 to this Current Report on Form 8-K and which is incorporated herein by reference. The Board has assigned Mr. Voorhees to serve on its Risk Committee and its Governance and Nominating Committee. Mr. Voorhees will receive compensation in accordance with the Company's standard compensation arrangements for non-employee directors, which consist of an annual retainer of $75,000 paid in four installments, a fee of $1,500 for each committee meeting attended and, following the Company's annual meeting of shareholders, a grant of restricted stock or restricted stock units, at the director's election, having a value of $125,000 on the date of grant, which vests upon the earlier of one year from the date of grant or the next annual meeting of shareholders.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SUNTRUST BANKS INC ExhibitEX-99.1 2 exhibit991newsrelease.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 News ReleaseContact: Media InvestorsMike McCoy Ankur Vyas(404) 588-7230 (404) 813-6714For Immediate ReleaseNovember 16,…To view the full exhibit click here
About SunTrust Banks, Inc. (NYSE:STI)
SunTrust Banks, Inc. is a bank holding company and a financial holding company. Through its principal subsidiary, SunTrust Bank, the Company offers a line of financial services for consumers and businesses, including deposit, credit, mortgage banking, and trust and investment services. The Company’s other subsidiaries provide asset and wealth management, securities brokerage, and capital market services. The Company operates through three segments: Consumer Banking and Private Wealth Management, Wholesale Banking and Mortgage Banking. It also operates a Corporate Other segment, which includes the management of the Company’s investment securities portfolio, long-term debt, end user derivative instruments, short-term liquidity and funding activities, balance sheet risk management, and real estate assets. The Company operates primarily within Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia.
