01—Abstract
Summary
Summary of the 8-K filed June 16, 2026. Cited figures are marked; the original filing is the authoritative source.
On June 16, 2026, M&T Bank Corporation (NYSE: MTB) announced that its Board of Directors elected Jeremy M.
Jacobs, Jr., chief executive officer of Delaware North Companies, Inc., as a director of M&T, effective that day. He was also elected to the board of M&T Bank, M&T's principal banking subsidiary. The filing is disclosed under Item 5.02(d), which covers the election of new directors.
As a non-employee director, Mr. Jacobs will participate in M&T's director compensation program as described in its 2026 proxy statement, filed March 10, 2026. The filing states there are no arrangements or understandings between Mr. Jacobs and any other person under which he was selected as a director. It also discloses that Delaware North and its affiliates have ordinary course credit relationships with M&T Bank, entered into on substantially the same terms as those prevailing for comparable loans with other customers.
The filing attaches a news release (Exhibit 99.1) describing Mr. Jacobs's background: he joined Delaware North in 1986, was named chief executive officer in 2015, and oversees the company's strategy, governance and financial performance. The release also quotes M&T chairman and CEO René Jones, who said Mr. Jacobs's experience leading a complex, customer-centric organization will strengthen the boardroom's perspectives.
02—Key points
Key Highlights
- Jeremy M. Jacobs, Jr., CEO of Delaware North Companies, Inc., was elected to M&T Bank Corporation's Board of Directors effective June 16, 2026.
- He was also elected to the Board of Directors of M&T Bank, M&T's principal banking subsidiary.
- As a non-employee director, he will participate in M&T's director compensation program described in the 2026 proxy statement filed March 10, 2026.
- No arrangements or understandings exist between Mr. Jacobs and any other person under which he was selected as a director.
- Delaware North and its affiliates have ordinary course credit relationships with M&T Bank, on substantially the same terms as comparable loans to other customers.
- Mr. Jacobs joined Delaware North in 1986 and became CEO in 2015; he holds a Georgetown University bachelor's degree and a Wharton MBA.
- The filing contains no financial results or financial statements; the board appointment is its sole disclosed event.
03—Questions
Frequently Asked Questions
Who was added to M&T Bank Corporation's Board of Directors?
Jeremy M. Jacobs, Jr., chief executive officer of Delaware North Companies, Inc., was elected as a director of M&T effective June 16, 2026. He was also elected to the board of M&T Bank, the company's principal banking subsidiary.
How will Mr. Jacobs be compensated?
As a non-employee director, he will participate in M&T's director compensation program as described in M&T's 2026 proxy statement, which was filed with the SEC on March 10, 2026.
Is there any relationship between Mr. Jacobs's selection and other parties?
The filing states there are no arrangements or understandings between Mr. Jacobs and any other person pursuant to which he was selected as a director.
Does M&T have a lending relationship with Delaware North?
Yes. The filing states that Delaware North and its affiliates have a variety of ordinary course credit relationships with M&T Bank, entered into on substantially the same terms, including interest rate and collateral, as comparable loans with other customers, without more than normal collectability risk or other unfavorable features.
What is Mr. Jacobs's professional background?
Per the attached news release, he joined Delaware North in 1986, led its Sportservice division among other senior roles, and was named CEO in 2015. He earned a bachelor's degree from Georgetown University and an MBA from the Wharton School of the University of Pennsylvania.
04—Continue