FIRST HORIZON CORP Amends Bylaws, Officer Compensation
Ticker: FHN-PH · Form: 8-K · Filed: Jan 23, 2024 · CIK: 36966
Complexity: simple
Sentiment: neutral
Topics: corporate-governance, executive-compensation, bylaws, 8-K
TL;DR
**FIRST HORIZON CORP just updated officer pay and company rules, watch for impact on governance and exec incentives.**
AI Summary
FIRST HORIZON CORP filed an 8-K on January 23, 2024, reporting events from January 22, 2024, related to changes in compensatory arrangements for certain officers and amendments to its bylaws. This filing indicates potential shifts in executive compensation structures and corporate governance, which could impact the company's financial performance and strategic direction. Investors should note these changes as they reflect the company's approach to executive incentives and internal controls, potentially influencing long-term shareholder value.
Why It Matters
Changes to bylaws and officer compensation can signal shifts in corporate governance and executive incentives, directly impacting the company's operational efficiency and financial health.
Risk Assessment
Risk Level: medium — Changes in compensatory arrangements and bylaws can introduce both opportunities and risks depending on the specifics, which are not fully detailed in this summary filing.
Analyst Insight
An investor should monitor subsequent filings or press releases for details on the specific changes to compensatory arrangements and bylaws, as these details will determine the actual impact on the company's governance and financial outlook.
Key Players & Entities
- FIRST HORIZON CORP (company) — the registrant filing the 8-K
- January 23, 2024 (date) — date of filing
- January 22, 2024 (date) — date of earliest event reported
- 001-15185 (other) — Commission File Number
- 165 Madison Avenue, Memphis, Tennessee 38103 (other) — Address of Principal Executive Offices
FAQ
What specific items were reported in this 8-K filing by FIRST HORIZON CORP?
The 8-K filing by FIRST HORIZON CORP reported on 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year' as per the ITEM INFORMATION section.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 22, 2024, as stated in the 'Date of Report (date of earliest event reported)' section.
What is the state of incorporation for FIRST HORIZON CORP?
FIRST HORIZON CORP is incorporated in TN (Tennessee), as indicated in the 'State or other jurisdiction of incorporation' field.
What is the business address of FIRST HORIZON CORP?
The business address of FIRST HORIZON CORP is 165 Madison Avenue, Memphis, Tennessee 38103, as listed under 'Address of Principal Executive Offices'.
What is the Commission File Number for FIRST HORIZON CORP?
The Commission File Number for FIRST HORIZON CORP is 001-15185, found in the 'Commission File Number' section of the filing.
Filing Stats: 1,228 words · 5 min read · ~4 pages · Grade level 11.9 · Accepted 2024-01-23 16:33:53
Key Financial Figures
- $0.625 — ) Name of Exchange on which Registered $0.625 Par Value Common Capital Stock FHN New
Filing Documents
- fhn-20240122.htm (8-K) — 49KB
- a8-k1222024exh31fhnbylaws.htm (EX-3.1) — 206KB
- fhn-20240122_g1.jpg (GRAPHIC) — 18KB
- fhn-20240122_g2.jpg (GRAPHIC) — 5KB
- 0000036966-24-000007.txt ( ) — 568KB
- fhn-20240122.xsd (EX-101.SCH) — 5KB
- fhn-20240122_def.xml (EX-101.DEF) — 19KB
- fhn-20240122_lab.xml (EX-101.LAB) — 42KB
- fhn-20240122_pre.xml (EX-101.PRE) — 20KB
- fhn-20240122_htm.xml (XML) — 7KB
03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. Amendment of Bylaws On January 22, 2024, the Board of Directors unanimously approved amendments to Section 3.2 of the Bylaws of First Horizon Corporation, effective immediately. As amended, that Section provides that the Board of Directors consists of fifteen members (increased from fourteen) until directors are elected at the 2024 annual meeting of shareholders; after that election, the Board of Directors will consist of thirteen members. The 2024 annual meeting currently is scheduled for April 23, 2024.
01. Financial Statements and Exhibits
ITEM 9.01. Financial Statements and Exhibits The following exhibits are filed herewith: Exhibit # Description 3.1 Bylaws of First Horizon Corporation, as amended and restated effective J anuary 22, 202 4 104 Cover Page Interactive Data File, formatted in Inline XBRL 3 FORM 8-K CURRENT REPORT 1/22/2024
SIGNATURES
SIGNATURES 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. FIRST HORIZON CORPORATION (Registrant) January 23, 2024 By: /s/ Clyde A. Billings, Jr. Clyde A. Billings, Jr. Senior Vice President, Assistant General Counsel and Corporate Secretary 4 FORM 8-K CURRENT REPORT 1/22/2024