8-KLeadership ChangesExhibits & Filings

FIFTH THIRD BANCORP 8-K Report, Executive Changes (May 29, 2015)

Filed May 29, 2015For Securities:FITBFITBOFITBPFITB-PIFITB-PMFITB-PAFITBIFITB-PK

Summary

Fifth Third Bancorp (FITB) filed an 8-K on May 29, 2015, reporting a significant change in its Board of Directors. Effective May 27, 2015, the Board elected Jorge L. Benitez as a new Director. This appointment also led to an increase in the total size of the Board to thirteen members, filling a vacancy created by the expansion. Mr. Benitez's compensation as a Director will align with the standard compensation for non-employee directors, as previously detailed in the company's March 5, 2015 proxy statement and its 2014 10-K filing. The company has also attached a press release dated May 29, 2015, related to this appointment as an exhibit to the filing. Investors should note that the specific committee assignments for Mr. Benitez are yet to be determined by the Board.

Key Highlights

  • 1Fifth Third Bancorp's Board of Directors has been expanded to thirteen members.
  • 2Jorge L. Benitez was appointed as a new Director on May 27, 2015.
  • 3The appointment of Mr. Benitez fills a vacancy created by the Board's expansion.
  • 4Mr. Benitez's director compensation will be consistent with other non-employee directors.
  • 5Committee assignments for Mr. Benitez are pending.
  • 6A press release detailing the appointment is included as an exhibit.

Frequently Asked Questions

Jorge L. Benitez has been elected as a new Director to the Board of Fifth Third Bancorp as of May 27, 2015. Further details on his professional background and experience would typically be found in the associated press release (Exhibit 99.1) or prior company filings.

The Board of Directors increased its size to thirteen members to accommodate the appointment of Jorge L. Benitez, filling the vacancy created by this expansion.

Mr. Benitez's compensation for his role as a Director will be in line with the compensation provided to Fifth Third Bancorp's other non-employee directors. This information is detailed in the company's definitive proxy statement filed on March 5, 2015, and its Form 10-K for the year ended December 31, 2014.

As of the filing date of this 8-K (May 29, 2015), the Board of Directors had not yet determined the specific committees to which Mr. Benitez would be appointed.