What was the main purpose of this 8-K filing?

The main purpose of this 8-K filing was to announce an amendment to BB&T Corporation's bylaws that increased the mandatory retirement age for directors.

What specific change was made to the bylaws?

The mandatory retirement age for directors was raised from 72 years old to 75 years old.

When did this change become effective?

The amendment to the bylaws became effective immediately upon approval by the Board of Directors on January 29, 2019.

What is the significance of this for investors?

This amendment primarily impacts corporate governance. It allows directors to serve longer, potentially providing continuity in leadership and leveraging experienced board members for an extended period. For investors, this signals a change in board composition policy and could influence board refreshment strategies.

TRUIST FINANCIAL CORP 8-K: Corporate Changes

Summary

This 8-K filing by TRUIST FINANCIAL CORP (TFC), then operating as BB&T Corporation, on January 29, 2019, primarily announces an amendment to the company's bylaws concerning the mandatory retirement age for directors. The Board of Directors approved a change to Article III, Section 8 of the Bylaws, increasing the mandatory retirement age from 72 to 75. This change is effective immediately upon its approval. The filing also includes the amended and restated bylaws as an exhibit.

Key Highlights

1BB&T Corporation (now Truist Financial Corp.) amended its corporate bylaws.
2The amendment specifically changes the mandatory retirement age for directors.
3The mandatory director retirement age was increased from 72 to 75 years.
4The amendment was approved by the Board of Directors on January 29, 2019.
5The change to the bylaws is effective immediately.
6The filing includes the Amended and Restated Bylaws as an exhibit.

TRUIST FINANCIAL CORP 8-K Report, Bylaw Amendment (Jan 29, 2019)

Summary

Key Highlights

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