8-KMaterial AgreementsExhibits & Filings

FIFTH THIRD BANCORP 8-K Report, Material Agreement (Dec 8, 2006)

Filed December 8, 2006For Securities:FITBFITBOFITBPFITB-PIFITB-PMFITB-PAFITBIFITB-PK

Summary

Fifth Third Bancorp (FITB) filed an 8-K on December 8, 2006, reporting an amendment to its Nonqualified Deferred Compensation Plan, effective December 4, 2006. This amendment allows participants to diversify their investment choices within their deferred compensation accounts, moving beyond the previous sole option of investing in the Fifth Third Stock Fund. The change, approved by the Compensation Committee of the Board of Directors, introduces various benchmarks for participants to select from. This development is significant for employee participants as it provides greater flexibility and potentially better risk management for their deferred compensation. For investors, this filing is primarily procedural, indicating an update to employee benefit plans rather than a material change in the company's financial performance or strategic direction. The full details of the amended plan, effective January 1, 2007, are available as an exhibit to this filing.

Key Highlights

  • 1Fifth Third Bancorp amended its Nonqualified Deferred Compensation Plan on December 4, 2006.
  • 2The amendment allows participants to choose investments from various benchmarks, not just the Fifth Third Stock Fund.
  • 3This change provides increased investment flexibility for participants in the deferred compensation plan.
  • 4The amendment was made by the Compensation Committee of the Board of Directors.
  • 5The updated plan is effective January 1, 2007.
  • 6The filing is an 8-K Current Report.
  • 7Christopher G. Marshall, Executive Vice President and Chief Financial Officer, signed the report.

Frequently Asked Questions

The primary change is that participants can now choose to invest their deferred compensation accounts among various established benchmarks, rather than being limited to investing solely in the Fifth Third Stock Fund.

The amendment to the plan was made on December 4, 2006, and the amended and restated plan itself is effective January 1, 2007.

The amendment was approved by the Compensation Committee of the Board of Directors of Fifth Third Bancorp.

This change primarily affects the investment options available to participants in a deferred compensation plan. While it provides more flexibility for employees, it is not expected to have a material direct impact on the company's overall financial statements or stock performance, other than the standard accounting for such plans.