false 0000714310 0000714310 2021-04-19 2021-04-19 0000714310 us-gaap:CommonStockMember 2021-04-19 2021-04-19 0000714310 vly:NonCumulativePerpetualPreferredStockSeriesAMember 2021-04-19 2021-04-19 0000714310 vly:NonCumulativePerpetualPreferredStockSeriesBMember 2021-04-19 2021-04-19

 

 

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): April 19, 2021

 

 

VALLEY NATIONAL BANCORP

(Exact Name of Registrant as Specified in Charter)

 

 

 

New Jersey   1-11277   22-2477875
(State or Other Jurisdiction
of Incorporation)
  (Commission
File Number)
 

(I.R.S. Employer

Identification Number)

 

One Penn Plaza, New York, New York   10119
(Address of Principal Executive Offices)   (Zip Code)

(973) 305-8800

(Registrant’s telephone number, including area code)

 

 

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))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common Stock, no par value   VLY   The Nasdaq Stock Market LLC
Non-Cumulative Perpetual Preferred Stock, Series A, no par value   VLYPP   The Nasdaq Stock Market LLC
Non-Cumulative Perpetual Preferred Stock, Series B, no par value   VLYPO   The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Item 5.07

Submission of Matters to a Vote of Security Holders.

The Company held its Annual Meeting of Shareholders on April 19, 2021. On the record date of February 22, 2021, there were 405,603,861 shares of the Company’s common stock outstanding. A total of 357,118,715 shares were present or represented by proxy at the meeting. The Company’s shareholders took the following actions:

Proposal #1 – Voted on the election of 11 persons, named in the Proxy Statement, to serve as directors of the Company for the ensuing year constituting the entire Board of Directors. The following is a list of directors elected at the Annual Meeting with the number of votes “For”, “Against”, “Abstain” and “Broker Non-Votes”, as well as the percentage of votes cast “For” each director nominee.

 

     Number of Votes
Name    For    % For    Against    Abstain    Broker Non-
Votes

Andrew B. Abramson

   293,092,178    97.72    6,819,666    402,678    56,804,193

Peter J. Baum

   295,259,708    98.47    4,587,423    467,391    56,804,193

Eric P. Edelstein

   295,430,714    98.52    4,411,094    472,714    56,804,193

Marc J. Lenner

   285,626,487    95.28    14,119,390    568,645    56,804,193

Peter V. Maio

   298,352,137    99.55    1,318,662    643,723    56,804,193

Ira Robbins

   292,070,085    97.41    7,760,574    483,863    56,804,193

Suresh L. Sani

   294,092,995    98.08    5,730,212    491,315    56,804,193

Lisa J. Schultz

   296,436,214    98.88    3,350,046    528,262    56,804,193

Jennifer W. Steans

   297,484,752    99.20    2,398,753    431,017    56,804,193

Jeffrey S. Wilks

   283,865,347    94.65    16,022,553    426,622    56,804,193

Dr. Sidney S. Williams, Jr.

   298,300,864    99.49    1,526,695    486,963    56,804,193

Proposal #2 – Approved, on an advisory basis, the compensation of the Company’s named executive officers. The number of shares voted “For” and “Against” this proposal, as well as the number of abstentions and broker non-votes, was as follows:

 

     Number of
Votes
   Percentage

For

   293,719,195    98.33

Against

   4,969,864    1.66

Abstained

   1,625,463   

Broker Non-Votes

   56,804,193   

Proposal #3 – Ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2021. The number of shares voted “For” and “Against” this proposal, as well as the number of abstentions and broker non-votes, was as follows:

 

     Number of
Votes
   Percentage

For

   355,069,145    99.58

Against

   1,481,993    0.41

Abstain

   567,577   

Broker Non-Votes

   0   


Proposal #4 – Approved the adoption of the Valley National Bancorp 2021 Incentive Compensation Plan. The number of shares voted “For” and “Against” this approval, as well as the number of abstentions and broker non-votes, was as follows:

 

     Number of
Votes
   Percentage

For

   280,289,217    93.78

Against

   18,576,796    6.21

Abstained

   1,448,509   

Broker Non-Votes

   56,804,193   

Proposal #5 – Voted against a shareholder proposal to amend the Company’s By-laws and governing documents to require an independent Chairman of the Board. The number of shares voted “For” and “Against” this proposal, as well as the number of abstentions and broker non-votes, was as follows:

 

     Number of
Votes
   Percentage

For

   52,230,518    17.55

Against

   245,355,842    82.44

Abstained

   2,728,162   

Broker Non-Votes

   56,804,193   


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 hereunto duly authorized.

 

Dated: April 21, 2021       VALLEY NATIONAL BANCORP
    By:  

/s/ Ronald H. Janis

      Ronald H. Janis
      Senior Executive Vice President and General Counsel