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 17, 2019

 

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)

 

1455 Valley Road, Wayne, New Jersey   07470
(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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§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 17, 2019. On the record date of February 19, 2019, there were 331,564,079 shares of the Company’s common stock outstanding. A total of 298,158,581 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 12 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     221,115,486       97.40       5,909,427       787,684       70,345,984  
Peter J. Baum     222,763,438       98.11       4,283,993       765,166       70,345,984  
Eric P. Edelstein     221,363,139       97.49       5,689,649       759,810       70,345,984  
Graham O. Jones     218,377,247       96.19       8,637,996       797,354       70,345,984  
Michael L. LaRusso     222,643,250       98.07       4,379,534       789,813       70,345,984  
Marc J. Lenner     219,159,335       96.52       7,905,862       747,400       70,345,984  
Gerald H. Lipkin     221,914,765       97.73       5,152,539       745,293       70,345,984  
Ira Robbins     223,646,412       98.40       3,632,560       533,625       70,345,984  
Suresh L. Sani     221,922,159       97.75       5,097,171       793,267       70,345,984  
Melissa J. Schultz     224,082,767       98.62       3,134,934       594,897       70,345,984  
Jennifer W. Steans     221,657,597       97.53       5,609,430       545,571       70,345,984  
Jeffrey S. Wilks     179,916,494       79.26       47,069,065       827,038       70,345,984  

 

 

Proposal #2 – Ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2019.

 

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     291,086,019       97.85  
Against     6,389,355       2.15  
Abstain     683,207          
Broker Non-Votes     0          

 

   - 2 -  

 

 

Proposal #3 – Approved, on a non-binding basis, the compensation of the Company’s named executive officers as determined by the Compensation and Human Resources Committee.

 

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     218,297,818       96.77  
Against     7,296,513       3.23  
Abstained     2,218,267          
Broker Non-Votes     70,345,984          

 

 

Proposal #4 – Voted against a shareholder proposal to amend the Company’s governing documents to require that the Chair of the Board of Directors be independent.

 

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     57,610,041       25.51  
Against     168,231,939       74.49  
Abstained     1,970,617          
Broker Non-Votes     70,345,984          

 

   - 3 -  

 

 

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 18, 2019     VALLEY NATIONAL BANCORP  
         
  By:   /s/ Ronald H. Janis  
      Ronald H. Janis  
      Senior Executive Vice President and
General Counsel 		 

 

 

 

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