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TFC Truist Financial

 

 

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

April 28, 2020

Date of Report (Date of earliest event reported)

 

Truist Financial Corporation

(Exact name of registrant as specified in its charter)

 

North Carolina

 

1-10853

 

56-0939887

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

214 North Tryon Street

 

Charlotte, North Carolina

 

28202

(Address of principal executive offices)

 

(Zip Code)

(336) 733-2000

(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:

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

 

Name of each exchange on which registered

Common Stock, $5 par value

 

TFC

 

New York Stock Exchange

Depositary Shares each representing 1/1,000th interest in a share of Series F Non-Cumulative Perpetual Preferred Stock

 

TFC.PF

 

New York Stock Exchange

Depositary Shares each representing 1/1,000th interest in a share of Series G Non-Cumulative Perpetual Preferred Stock

 

TFC.PG

 

New York Stock Exchange

Depositary Shares each representing 1/1,000th interest in a share of Series H Non-Cumulative Perpetual Preferred Stock

 

TFC.PH

 

New York Stock Exchange

Depositary Shares each representing 1/4,000th interest in a share of Series I Perpetual Preferred Stock

 

TFC.PI

 

New York Stock Exchange

5.853% Fixed-to-Floating Rate Normal Preferred Purchase Securities each representing 1/100th interest in a share of Series J Perpetual Preferred Stock

 

TFC.PJ

 

New York Stock Exchange

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

Annual Meeting 

On April 28, 2020, Truist Financial Corporation (“Truist” or the “Corporation”) held its 2020 Annual Meeting of Shareholders (the “Annual Meeting”). A total of 1,203,848,527 shares of Truist’s common stock were present or represented by proxy at the meeting. This represented approximately 89.5% of Truist’s 1,345,001,536 shares of common stock that were outstanding and entitled to vote at the Annual Meeting. At the Annual Meeting, Truist shareholders voted on four proposals and cast their votes as described below. The proposals are described in the Corporation’s 2020 Proxy Statement.

Proposal 1: Election of Directors

Each of the individuals named below was elected to serve as a director of the Corporation for a one-year term expiring at the 2021 Annual Meeting of Shareholders:

Name

 

Votes For

  

Votes Against

  

Abstentions

 

Jennifer S. Banner

  

1,020,319,683

   

31,703,672

   

2,619,467

 

K. David Boyer, Jr.

  

1,036,189,827

   

15,512,256

   

2,940,740

 

Agnes Bundy Scanlan

  

1,045,460,349

   

6,329,116

   

2,853,357

 

Anna R. Cablik

  

1,029,257,866

   

22,555,252

   

2,829,705

 

Dallas S. Clement

  

1,045,433,151

   

6,291,855

   

2,915,382

 

Paul D. Donahue

  

1,045,286,333

   

6,424,105

   

2,932,385

 

Paul R. Garcia

  

1,046,776,579

   

4,915,766

   

2,949,378

 

Patrick C. Graney III

  

1,045,828,327

   

5,881,482

   

2,933,013

 

Linnie M. Haynesworth

  

1,045,361,002

   

6,388,176

   

2,886,363

 

Kelly S. King

  

1,011,206,024

   

37,352,087

   

6,083,878

 

Easter A. Maynard

  

1,045,221,465

   

6,569,336

   

2,852,021

 

Donna S. Morea

  

1,046,092,538

   

5,784,953

   

2,758,051

 

Charles A. Patton

  

1,045,977,057

   

5,678,978

   

2,986,787

 

Nido R. Qubein

  

1,037,536,746

   

14,057,351

   

3,041,445

 

David M. Ratcliffe

  

1,033,737,145

   

9,599,816

   

11,305,861

 

William H. Rogers, Jr.

  

1,040,283,533

   

11,567,808

   

2,791,481

 

Frank P. Scruggs, Jr.

  

1,045,603,075

   

6,158,181

   

2,881,567

 

Christine Sears

  

1,046,349,145

   

5,537,796

   

2,754,797

 

Thomas E. Skains

  

1,034,141,073

   

17,674,662

   

2,827,087

 

Bruce L. Tanner

  

1,046,184,037

   

5,637,063

   

2,821,723

 

Thomas N. Thompson

  

1,033,286,537

   

18,449,051

   

2,907,234

 

Steven C. Voorhees

  

1,045,559,020

   

6,237,342

   

2,846,461

 

There were 149,205,705 broker non-votes for each director on this proposal.

2


Proposal 2: Ratification of Auditors

Shareholders ratified the reappointment of PricewaterhouseCoopers LLP as the Corporation’s independent registered public accounting firm for 2020.

Votes FOR

 

Votes AGAINST

 

Abstentions

1,186,730,009

 

14,517,825

 

2,600,693

There were no broker non-votes for this proposal. 

Proposal 3: Advisory Vote Regarding Truist’s Executive Compensation Program

Shareholders approved Truist’s executive compensation program, as described in the Corporation’s 2020 Proxy Statement.

Votes FOR

 

Votes AGAINST

 

Abstentions

980,619,073

 

66,080,847

 

7,925,133

There were 149,205,705 broker non-votes for this proposal.

Proposal 4: Shareholder proposal regarding an independent chairman of the Board of Directors

Shareholders did not approve the proposal regarding an independent chairman.

Votes FOR

 

Votes AGAINST

 

Abstentions

470,086,661

 

577,503,312

 

7,045,198

There were 149,205,705 broker non-votes for this proposal.


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.

 

TRUIST FINANCIAL CORPORATION

 

(Registrant)

   

By:

 

/s/ Cynthia B. Powell

 

Cynthia B. Powell

 

Executive Vice President and Corporate
Controller

 

(Principal Accounting Officer)

Date: April 29, 2020