---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-063794"
form_type: "8-K"
ticker: "FLG"
cik: "0000910073"
company_name: "FLAGSTAR BANK, NATIONAL ASSOCIATION"
filed_at: "2024-03-08T23:59:59+00:00"
generated_at: "2026-06-05T01:01:17.972523+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NYCB appoints Joseph Otting as CEO; Alessandro DiNello becomes Non-Executive Chairman

## Summary
- Joseph Otting named President and CEO effective April 1, 2024; also board member from March 11.
- Otting received one-time option grant for 15M shares at $2.00 strike, vesting quarterly over 3 years.
- Otting base salary $1.25M, target bonus $2.25M; employment term through March 2027.
- Alessandro DiNello transitions to Non-Executive Chairman on April 1, 2024; receives option for 4M shares at $3.46 and 1.69M RSUs.
- DiNello base salary $500k/month as Executive Chairman (50% cash/50% RSUs) then $450k/year as Chairman; consulting through Dec 2024.

## SEC filing metadata
- accession: 0001193125-24-063794
- form_type: 8-K
- ticker: FLG
- cik: 0000910073
- company_name: FLAGSTAR BANK, NATIONAL ASSOCIATION
- filed_at: 2024-03-08T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/910073/000119312524063794/0001193125-24-063794-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/910073/000119312524063794/d803202d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-063794
- JSON: https://secwatch.observer/filing/0001193125-24-063794.json
- Plain text: https://secwatch.observer/filing/0001193125-24-063794.txt

## Key facts
- Executive change
  Joseph Otting was appointed as President and Chief Executive Officer at FLAGSTAR BANK, NATIONAL ASSOCIATION.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: Mr. Otting became an employee of the Company as of March 6, 2024 and will assume the role of a member of the Company’s board of directors as of March 11, 2024, and President and Chief Executive Officer of the Company as of April 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/910073/000119312524063794/0001193125-24-063794-index.htm
- Executive change
  Alessandro DiNello changed role as Non-Executive Chairman of the Board at FLAGSTAR BANK, NATIONAL ASSOCIATION.
  - Action: became
  - Role: Non-Executive Chairman of the Board
  source text: pursuant to which Mr. Dinello will continue to serve as the President and Chief Executive Officer of the Company and Executive Chairman of the Company’s board of directors through April 1, 2024, at which time he will become the Non-Executive Chairman of the Board and will cease to serve as an employee or executive officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/910073/000119312524063794/0001193125-24-063794-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.