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 5.07Submission 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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