8-KLeadership ChangesExhibits & Filings

BANK OF AMERICA CORP /DE/ 8-K Report, Executive Changes (Dec 14, 2017)

Filed December 14, 2017For Securities:BACBAC-PBBAC-PKBAC-PLBAC-PMBAC-PNBAC-PSBML-PJBAC-PEBAC-PPBAC-PQBACRPBML-PGBML-PHBML-PLBAC-POMER-PK

Summary

Bank of America Corporation announced a change in its Board of Directors on December 13, 2017, appointing Dr. Maria T. Zuber as a new director, effective immediately. Dr. Zuber's appointment is significant as she brings extensive experience, currently serving as Vice President for Research at the Massachusetts Institute of Technology and as a Senior Research Scientist at NASA. She will also serve on the Board's Enterprise Risk and Corporate Governance Committees, indicating a focus on these critical areas. This appointment is part of the company's ongoing governance strategy. Dr. Zuber is also a board member of Textron Inc. She will be compensated according to Bank of America's standard non-employee director compensation program, which includes restricted stock and cash awards, prorated from her appointment date. Investors should note this addition as it reflects the company's commitment to diverse and experienced leadership on its board, particularly in areas of risk and governance.

Key Highlights

  • 1Dr. Maria T. Zuber appointed to the Board of Directors effective immediately (December 13, 2017).
  • 2Dr. Zuber will serve on the Board's Enterprise Risk and Corporate Governance Committees.
  • 3Dr. Zuber's background includes academic leadership (MIT) and scientific expertise (NASA).
  • 4She is also a director at Textron Inc., bringing diversified corporate experience.
  • 5Compensation for Dr. Zuber will follow the standard non-employee director program, including stock and cash awards.
  • 6Awards will be prorated from the appointment date to the next annual stockholders' meeting.

Frequently Asked Questions

Dr. Maria T. Zuber is a highly accomplished individual with a strong background in research and academia. She currently serves as the Vice President for Research at the Massachusetts Institute of Technology (MIT) and as a Senior Research Scientist at the National Aeronautics and Space Administration (NASA). She also has experience as a director on the board of Textron Inc.

Dr. Zuber has been appointed to serve on two key committees of the Bank of America Board of Directors: the Enterprise Risk Committee and the Corporate Governance Committee.

Dr. Zuber will receive compensation in accordance with Bank of America's established non-employee director compensation program. This includes grants of restricted stock and cash awards, which will be prorated from her effective date of appointment through the corporation's next annual stockholders' meeting.

The appointment of Dr. Zuber, with her extensive experience in research, technology, and corporate governance, signals Bank of America's ongoing efforts to strengthen its board's expertise in critical areas like risk management and governance. Her diverse background could bring valuable perspectives to the company's strategic decision-making.