Valley National Bancorp Announces Director and Officer Changes

TL;DR

Valley National Bancorp shakes up board and exec team, effective Jan 24, 2025.

AI Summary

Valley National Bancorp announced on January 24, 2025, the departure of director Ira Robbins and the election of new directors, including David Bagatelle and Thomas O'Brien. The company also appointed new officers and updated compensatory arrangements for certain executives. These changes are effective as of January 24, 2025.

Why It Matters

Changes in board composition and executive appointments can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in key leadership and board composition can introduce uncertainty regarding future strategy and execution.

Key Players & Entities

• Valley National Bancorp (company) — Registrant
• Ira Robbins (person) — Departing Director
• David Bagatelle (person) — Elected Director
• Thomas O'Brien (person) — Elected Director
• January 24, 2025 (date) — Effective date of changes

FAQ

Filing Documents

• vly-20250124.htm (8-K) — 32KB
• 0000714310-25-000010.txt ( ) — 218KB
• vly-20250124.xsd (EX-101.SCH) — 4KB
• vly-20250124_def.xml (EX-101.DEF) — 18KB
• vly-20250124_lab.xml (EX-101.LAB) — 33KB
• vly-20250124_pre.xml (EX-101.PRE) — 19KB
• vly-20250124_htm.xml (XML) — 6KB

From the Filing

vly-20250124 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported) January 24, 2025 Valley National Bancorp (Exact Name of Registrant as Specified in Charter) New Jersey 1-11277 22-2477875 (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number) One Penn Plaza, New York, New York 10119 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code ( 973 ) 305-8800 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbols Name of exchange on which registered Common Stock, no par value VLY The Nasdaq Stock Market LLC Non-Cumulative Perpetual Preferred Stock, Series A, no par value VLYPP The Nasdaq Stock Market LLC Non-Cumulative Perpetual Preferred Stock, Series B, no par value VLYPO The Nasdaq Stock Market LLC Non-Cumulative Perpetual Preferred Stock, Series C, no par value VLYPN The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) On January 24, 2025, Avner Mendelson, a non-employee director on the board of directors (the "Board") of Valley National Bancorp (the "Company"), notified the Company of his intention to resign from the Board effective immediately. Mr. Mendelson was appointed to the Board as the designee of Bank Leumi Le-Israel B.M. ("Bank Leumi") pursuant to the terms of the Investor Rights Agreement, dated as of April 1, 2022, by and between the Company and Bank Leumi. Mr. Mendelson's resignation from the Board is not due to any disagreement between Mr. Mendelson and the Company, Valley National Bank or management. Bank Leumi has informed the Company that it intends to seek appointment of a new designee to the Board in Mr. Mendelson's place. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 28, 2025 VALLEY NATIONAL BANCORP By: /s/ Gary G. Michael Gary G. Michael Executive Vice President, General Counsel and Corporate Secretary

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View this 8-K filing on SEC EDGAR