8-K

VALLEY NATIONAL BANCORP (VLY)

8-K 2020-05-05 For: 2020-05-01
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Added on April 06, 2026

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):

May 1, 2020

VALLEY NATIONAL BANCORP

(Exact Name of Registrant as Specifiedin Charter)

New Jersey 1-11277 22-2477875
(State or Other Jurisdiction<br><br> <br>of Incorporation) (Commission<br><br> <br>File Number) (I.R.S. Employer<br><br> <br>Identification Number)
One Penn Plaza, New York, New York 10119
--- ---
(Address of Principal Executive Offices) (Zip Code)

(973) 305-8800

(Registrant’s telephone number,including area code)

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 Symbol(s) Name of each exchange on which registered
Common Stock, no par value VLY The Nasdaq Stock Market LLC
Non-Cumulative<br>Perpetual Preferred Stock, Series A, no par value VLYPP The Nasdaq Stock Market LLC
Non-Cumulative<br>Perpetual Preferred Stock, Series B, no par value VLYPO 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 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §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 5.07 Submission of Matters to a Vote of Security Holders.

The Company held its Annual Meeting of Shareholders on May 1, 2020. On the record date of March 11, 2020, there were 403,748,667 shares of the Company’s common stock outstanding. A total of 358,819,133 shares were present or represented by proxy at the meeting. The Company’s shareholders took the following actions:

Proposal #1 – Voted on the election of 12 persons, named in the Proxy Statement, to serve as directors of the Company for the ensuing year constituting the entire Board of Directors. The following is a list of directors elected at the Annual Meeting with the number of votes “For”, “Against”, “Abstain” and “Broker Non-Votes”, as well as the percentage of votes cast “For” each director nominee.

Number of Votes
Name For % For Against Abstain Broker Non-<br> Votes
Andrew B. Abramson 274,889,425 96.19 10,881,976 613,907 72,433,825
Peter J. Baum 280,232,622 98.06 5,524,627 628,059 72,433,825
Eric P. Edelstein 279,036,679 97.64 6,726,076 622,553 72,433,825
Graham O. Jones 270,821,438 94.80 14,836,799 727,071 72,433,825
Marc J. Lenner 276,500,908 96.76 9,245,201 639,199 72,433,825
Kevin J. Lynch 277,934,217 97.32 7,643,332 807,759 72,433,825
Peter V. Maio 283,278,822 99.14 2,441,638 664,848 72,433,825
Ira Robbins 275,447,016 96.55 9,833,049 1,105,243 72,433,825
Suresh L. Sani 278,278,601 97.39 7,446,615 660,092 72,433,825
Lisa J. Schultz 281,464,843 98.48 4,330,760 589,705 72,433,825
Jennifer W. Steans 281,087,560 98.37 4,653,663 644,085 72,433,825
Jeffrey S. Wilks 266,851,472 93.40 18,842,687 691,149 72,433,825

Proposal #2 – Ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020. The number of shares voted “For” and “Against” this proposal, as well as the number of abstentions and broker non-votes, was as follows:

Number of Votes Percentage
For 355,126,678 99.21
Against 2,824,171 0.78
Abstain 868,284
Broker Non-Votes 0

Proposal #3 – Approved, on a non-binding basis, the compensation of the Company’s named executive officers as determined by the Compensation and Human Resources Committee. The number of shares voted “For” and “Against” this proposal, as well as the number of abstentions and broker non-votes, was as follows:

Number of Votes Percentage
For 275,585,998 96.83
Against 9,013,425 3.16
Abstained 1,785,885
Broker Non-Votes 72,433,825


Proposal #4 – Approved an amendment to the Company’s Restated Certificate of Incorporation to increase the number of authorized shares of the Company’s common stock. The number of shares voted “For” and “Against” this approval, as well as the number of abstentions and broker non-votes, was as follows:

Number of Votes Percentage
For 340,736,955 95.40
Against 16,411,982 4.59
Abstained 1,670,196
Broker Non-Votes 0

Proposal #5 – Voted against a shareholder proposal to amend the Company’s By-laws and governing documents to provide that holders in the aggregate of 10% of the Company’s common stock have the ability to call a special meeting of shareholders. The number of shares voted “For” and “Against” this proposal, as well as the number of abstentions and broker non-votes, was as follows:

Number of Votes Percentage
For 83,932,016 29.60
Against 199,560,025 70.39
Abstained 2,893,267
Broker Non-Votes 72,433,825

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:  May 5, 2020 VALLEY NATIONAL BANCORP
By: /s/ Ronald H. Janis
Ronald H. Janis
Senior Executive Vice President and General Counsel