M&T Bank Corp. Announces Executive and Director Changes
Ticker: MTB-PK · Form: 8-K · Filed: Jun 26, 2024 · CIK: 36270
Sentiment: neutral
Topics: leadership-change, board-of-directors, executive-compensation
Related Tickers: MTB
TL;DR
MTB shakes up leadership and board, effective June 20.
AI Summary
M&T Bank Corporation (MTB) announced on June 20, 2024, changes in its executive leadership and board of directors. The company elected new directors and appointed new officers, alongside adjustments to compensatory arrangements for certain executives. These changes are effective as of June 20, 2024.
Why It Matters
Changes in executive leadership and board composition can signal shifts in company strategy, risk appetite, or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in key leadership and board positions can introduce uncertainty regarding future strategy and execution.
Key Numbers
- 7.500% — Preferred Stock Series J Rate (Indicates a specific financial instrument offered by the company.)
Key Players & Entities
- M&T BANK CORP (company) — Registrant
- June 20, 2024 (date) — Date of earliest event reported
- NY (location) — State of incorporation
- BUFFALO (location) — City of business address
- 7168425390 (phone_number) — Business phone number
FAQ
What specific roles have been affected by these leadership changes?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers,' but does not specify the exact roles in this summary.
When were these changes officially reported?
The Form 8-K was filed on June 26, 2024, reporting events as of June 20, 2024.
What is the primary business of M&T Bank Corporation?
M&T Bank Corporation operates in the 'Commercial Banks' sector, as indicated by its Standard Industrial Classification code [6022].
Are there any specific financial instruments mentioned in the filing?
Yes, the filing mentions 'Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H' and 'Perpetual 7.500% Non-Cumulative Preferred Stock, Series J'.
What is the company's fiscal year end?
The company's fiscal year ends on December 31st.
Filing Stats: 421 words · 2 min read · ~1 pages · Grade level 12.2 · Accepted 2024-06-26 10:02:05
Filing Documents
- d845952d8k.htm (8-K) — 27KB
- 0001193125-24-168691.txt ( ) — 184KB
- mtb-20240620.xsd (EX-101.SCH) — 4KB
- mtb-20240620_def.xml (EX-101.DEF) — 13KB
- mtb-20240620_lab.xml (EX-101.LAB) — 23KB
- mtb-20240620_pre.xml (EX-101.PRE) — 14KB
- d845952d8k_htm.xml (XML) — 7KB
From the Filing
8-K 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): June 20, 2024 M&T BANK CORPORATION (Exact name of registrant as specified in its charter) New York (State or other jurisdiction of incorporation) 1-9861 16-0968385 (Commission File Number) (I.R.S. Employer Identification Number) One M&T Plaza , Buffalo , New York 14203 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: ( 716 ) 635-4000 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 Instructions 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 Each Exchange on Which Registered Common Stock, $.50 par value MTB New York Stock Exchange Perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H MTBPrH New York Stock Exchange Perpetual 7.500% Non-Cumulative Preferred Stock, Series J MTBPrJ New York Stock Exchange 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. Item5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (b) On June 26, 2024, M&T Bank Corporation (the "Company") announced that Darren J. King, Senior Executive Vice President, will separate from the Company effective August 10, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. M&T BANK CORPORATION Date: June 26, 2024 By: /s/ Laura O'Hara Laura O'Hara Senior Executive Vice President and Chief Legal Officer