---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-23-004984"
form_type: "8-K"
ticker: "VLY"
cik: "0000714310"
company_name: "VALLEY NATIONAL BANCORP"
filed_at: "2023-04-05T23:59:59+00:00"
generated_at: "2026-06-17T06:07:35.248060+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Valley National Bancorp enters Change-in-Control Agreement with Raja Dakkuri

## Summary
- Agreement effective April 1, 2023, with Raja Dakkuri.
- Severance: 2x highest annual compensation (salary + cash bonuses) plus 2x COBRA/dental premiums if terminated without cause or resigns for good reason within 3 years post-change-in-control.
- Disability/death benefit: lump sum equal to 1/12 of highest annual salary.
- Excise tax gross-up provision: greater of full payments or cutback to avoid Section 280G excise tax.
- Agreement has no effect if employment ends before a change-in-control.

## SEC filing metadata
- accession: 0001214659-23-004984
- form_type: 8-K
- ticker: VLY
- cik: 0000714310
- company_name: VALLEY NATIONAL BANCORP
- filed_at: 2023-04-05T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/714310/000121465923004984/0001214659-23-004984-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/714310/000121465923004984/v432308k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-23-004984
- JSON: https://secwatch.observer/filing/0001214659-23-004984.json
- Plain text: https://secwatch.observer/filing/0001214659-23-004984.txt

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