UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | |
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) | August 8, 2016 | |
SunTrust Banks, Inc. |
(Exact name of registrant as specified in its charter) |
Georgia | 001-08918 | 58-1575035 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||
303 Peachtree St., N.E., Atlanta, Georgia | 30308 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant's telephone number, including area code | (800) 786-8787 |
Not Applicable |
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On August 8, 2016, the Compensation Committee of the Board of Directors of SunTrust Banks, Inc. approved changes to the base salaries of three of the named executives officers, as well as the target annual incentive opportunity for two of those officers, effective September 1, 2016, in recognition of the level of responsibility, experience, and individual performance, and to better align with peer compensation practices.
New Base Pay | New Target Annual Incentive Opportunity | |
Mark Chancy, Wholesale Banking Executive | $675,000 | 125% |
Aleem Gillani, Chief Financial Officer | $635,000 | 110% |
Anil Cheriyan, Chief Information Officer | $540,000 | unchanged |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SUNTRUST BANKS, INC. | |||||
(Registrant) | |||||
Date: August 12, 2016. | By: | /s/ David A. Wisniewski | |||
David A. Wisniewski, Senior Vice President, | |||||
Deputy General Counsel and Assistant Secretary | |||||