secwatch.observer — SEC 8-K summary
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Issuer:     STATE STREET CORP (STT)
CIK:        0000093751
Form:       8-K
Filed at:   2022-12-16T23:59:59+00:00
Accession:  0000093751-22-000651
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/93751/000009375122000651/0000093751-22-000651-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/93751/000009375122000651/stt-20221215.htm
  HTML page:      https://secwatch.observer/filing/0000093751-22-000651

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer