Who is DonnaLee A. DeMaio and what is her role on the Board?

DonnaLee A. DeMaio has been elected as a director of State Street Corporation, effective March 28, 2022. She will serve as an independent member of the Board.

How will Ms. DeMaio be compensated as a director?

Ms. DeMaio will receive a pro rata share of the annual retainer ($90,000) and stock retainer ($195,000) for the 2021-2022 period. The stock award's value will be based on the closing price of State Street's common stock on her election date. She will also be subject to other standard director compensation arrangements.

Does Ms. DeMaio's election indicate any significant strategic changes for State Street?

This filing solely reports the addition of a new director to the Board. It does not, by itself, indicate any immediate or significant changes in State Street's business strategy or financial operations. Such appointments are typically part of ongoing corporate governance and board refreshment processes.

Where can I find more details about director compensation at State Street?

Further details regarding State Street's director compensation arrangements can be found in the company's definitive proxy statement for its 2021 annual meeting of shareholders and in Exhibit 10.9 of State Street's annual report on Form 10-K for the fiscal year ended December 31, 2021.

STT/STT-PG 8-K: Leadership Changes

Summary

State Street Corporation (STT) announced on March 28, 2022, the election of DonnaLee A. DeMaio to its Board of Directors. Ms. DeMaio's appointment is effective immediately and does not stem from any specific arrangements with other individuals. She will receive compensation consistent with other non-employee directors, including a pro rata annual retainer of $90,000 and a stock retainer of $195,000, adjusted based on her election date and the stock's closing price. This appointment is a standard governance update and does not involve any immediate significant changes to the company's financial performance or strategic direction, as detailed in this 8-K filing. Investors should note that Ms. DeMaio will also be entitled to an indemnification agreement, aligning with the standard terms provided to other independent directors. The filing also includes the Cover Page Interactive Data File as required. While this 8-K is primarily a procedural announcement regarding board composition, it signifies continued adherence to corporate governance best practices by State Street.

Key Highlights

1DonnaLee A. DeMaio elected as a new director to the State Street Corporation Board.
2Ms. DeMaio's election is effective March 28, 2022.
3She will receive pro rata compensation typical for non-employee directors, including an annual retainer of $90,000 and a stock retainer of $195,000.
4Stock retainer will be prorated based on the closing price of STT common stock on the date of election.
5Ms. DeMaio will enter into a standard indemnification agreement with the company.
6No specific arrangements or understandings led to Ms. DeMaio's election.

STATE STREET CORP 8-K Report, Executive Changes (Mar 28, 2022)

Summary

Key Highlights

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