State Street revises 2022 performance-based RSU metrics after BBH acquisition termination

STATE STREET CORP

Fee revenue growth payout thresholds lowered: no payout <1.0% (was <5.0%), target 4.0% (was 8.5-9.5%), maximum 7.0% (was ≥13.0%).
Other core metrics (pre-tax margin, ROACE) unchanged; three-year performance period (2022-2024) and relative TSR modifier intact.
Bylaws amended to enhance shareholder nomination disclosures, proxy access requirements, and Rule 14a-19 compliance obligations.
Advance notice deadline for annual meeting nominations and proposals changed to 90-120 days prior (from 60-90 days), effective 2024 annual meeting.

item 5.02 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

STATE STREET CORP: 修改和重述公司附则，包括增加股东提名董事和提交提案的披露要求、调整提前通知截止日期以及其他技术性更新。 (effective 2022-12-15).

Change: bylaw amendment
Effective: 2022-12-15

Exact text from the filing

On December 15, 2022, the Company’s Board approved an amendment and restatement of the Company’s By-laws (as so amended and restated, the “Amended and Restated By-laws”), effective immediately.

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STATE STREET CORP filing history →

Source: SEC EDGAR

accession 0000093751-22-000651

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