Summary
This 8-K filing by BB&T Corporation (precursor to Truist Financial Corp, TFC) on October 22, 2018, primarily announces the election of two new independent directors to its Board of Directors: Patrick C. Graney and Easter A. Maynard. These appointments are effective immediately and are designed to enhance the board's expertise and oversight. Both new directors will serve on key committees, specifically the Compensation Committee and the Nominating and Corporate Governance Committee, indicating a focus on executive compensation and board composition.
Key Highlights
- 1BB&T Corporation (TFC) elected two new independent directors, Patrick C. Graney and Easter A. Maynard, to its Board of Directors.
- 2The appointments are effective October 22, 2018.
- 3Both new directors have been appointed to the Compensation Committee.
- 4Both new directors have also been appointed to the Nominating and Corporate Governance Committee.
- 5These are non-management director appointments, consistent with standard board practices.
- 6The compensation for the new directors will align with that of existing non-management directors.
- 7A press release detailing these appointments is included as an exhibit.
Frequently Asked Questions
The new directors appointed are Patrick C. Graney and Easter A. Maynard.
Both Mr. Graney and Ms. Maynard have been appointed to the Compensation Committee and the Nominating and Corporate Governance Committee.
No, the filing explicitly states that Mr. Graney and Ms. Maynard are non-management directors.
The new directors will receive compensation consistent with the compensation of other non-management members of the Board, as previously described in the Company's Proxy Statement.