VALLEY NATIONAL BANCORP (NYSE:VLY) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.
(a) On December 6, 2016, the Board of Directors of Valley
National Bancorp (Valley or the Company) amended several sections
of Valleys By-Laws, effective immediately, to implement proxy
access.
New Section 4 of Article I of the By-Laws implements proxy access
and permits a shareholder or group of up to 20 shareholders
owning 3% or more of the Companys outstanding common stock
continuously for at least three years to nominate and include in
the Companys proxy materials director nominees constituting up to
the greater of 20% of the Board or two individuals, provided the
shareholder(s) and the nominee(s) satisfy the requirements
specified in the By-Laws.
The foregoing description of the Companys amended By-Laws is
qualified in all respects by reference to the text of the amended
By-Laws, a copy of which is filed as Exhibit 3.1 to this Current
Report on Form 8-K and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
3.1
By-Laws of the Registrant, as amended and restated
effective December 6, 2016.
.
About VALLEY NATIONAL BANCORP (NYSE:VLY)
Valley National Bancorp is the bank holding company for Valley National Bank (the Bank). The Bank provides a range of commercial, retail, insurance and wealth management financial services products. The Company’s segments include Consumer Lending; Commercial Lending; Investment Management, and Corporate and Other Adjustments. The consumer lending segment includes its residential mortgages, home equity loans and automobile loans. The commercial lending segment primarily includes floating rate and adjustable rate commercial and industrial loans, as well as fixed rate owner occupied and commercial real estate loans. The investment management segment includes the Company’s investments in various types of securities, its federal funds sold and interest-bearing deposits with banks (primarily the Federal Reserve Bank of New York). The Bank has over 230 branches serving northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island, and Florida. VALLEY NATIONAL BANCORP (NYSE:VLY) Recent Trading Information
VALLEY NATIONAL BANCORP (NYSE:VLY) closed its last trading session up +0.03 at 11.79 with 1,327,240 shares trading hands.
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