secwatch.observer — SEC 8-K summary
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Issuer:     FIFTH THIRD BANCORP (FITB)
CIK:        0000035527
Form:       8-K
Filed at:   2022-06-17T23:59:59+00:00
Accession:  0000035527-22-000197
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/35527/000003552722000197/0000035527-22-000197-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/35527/000003552722000197/fitb-20220613.htm
  HTML page:      https://secwatch.observer/filing/0000035527-22-000197

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