Timothy N. Spence to become Fifth Third CEO on July 5, 2022; Carmichael becomes Executive Chairman

FIFTH THIRD BANCORP

Spence, currently President, succeeds Greg D. Carmichael as CEO effective July 5, 2022.
Carmichael will become Executive Chairman of the Boards of Fifth Third Bancorp and Fifth Third Bank.
Spence elected as Director of both entities effective July 5, 2022.
Base salary increased to $1,000,000; target annual incentive $1.75M; target LTI $5M for 2022.
Granted $3M in long-term equity: 50% Performance Shares, 35% RSUs, 15% SARs.

item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Timothy N. Spence

Chief Executive Officer

FITB · FIFTH THIRD BANCORP

Effective: 2022-07-05
Filed: June 17, 2022, 7:59 PM ET

Timothy N. Spence will become the new Chief Executive Officer of Fifth Third Bancorp and Fifth Third Bank, National Association effective July 5, 2022.

Appointed

Timothy N. Spence

Director

FITB · FIFTH THIRD BANCORP

Effective: 2022-07-05
Filed: June 17, 2022, 7:59 PM ET

Additionally, on June 13, 2022, Mr. Spence was elected as a Director of Fifth Third Bancorp and Fifth Third Bank, National Association effective July 5, 2022.

Role change

Greg D. Carmichael

Executive Chairman

FITB · FIFTH THIRD BANCORP

Effective: 2022-07-05
Successor: Timothy N. Spence
Filed: June 17, 2022, 7:59 PM ET

Upon his retirement as Chief Executive Officer effective July 5, 2022, Mr. Carmichael will become the Executive Chairman of the Boards of Directors of Fifth Third Bancorp and Fifth Third Bank, National Association.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Timothy N. Spence was appointed as Chief Executive Officer at FIFTH THIRD BANCORP.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Timothy N. Spence will become the new Chief Executive Officer of Fifth Third Bancorp and Fifth Third Bank, National Association effective July 5, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Timothy N. Spence was elected as Director at FIFTH THIRD BANCORP.

Action: elected
Role: Director

Exact text from the filing

Additionally, on June 13, 2022, Mr. Spence was elected as a Director of Fifth Third Bancorp and Fifth Third Bank, National Association effective July 5, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Greg D. Carmichael changed role as Executive Chairman at FIFTH THIRD BANCORP.

Action: retired as CEO and became
Role: Executive Chairman

Exact text from the filing

Upon his retirement as Chief Executive Officer effective July 5, 2022, Mr. Carmichael will become the Executive Chairman of the Boards of Directors of Fifth Third Bancorp and Fifth Third Bank, National Association.

View on SEC.gov

FIFTH THIRD BANCORP filing history →

Source: SEC EDGAR

accession 0000035527-22-000197

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