Red Flags Detected
- Departure Of Ceo (new) — Current CEO retiring after 40+ years, transitioning to Executive Chair role through 2027 shareholder meeting.
Truist CEO William Rogers retiring Sept 2026; Fiserv's Michael Lyons named successor
Filed June 15, 2026 · Period ending June 12, 2026 · ~1 min read
Key Changes
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William Rogers, CEO for 40+ years, will retire Sept 1, 2026 and transition to Executive Chair through 2027 annual meeting. Michael Lyons, 55, most recently CEO of Fiserv and former PNC president, will take over as CEO and President.
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Lyons receives $1.3M base salary with 325% target bonus, plus $12M in 2026 long-term incentives (40% performance shares, 35% restricted stock, 25% cash). Compensation structure mirrors existing senior executive awards.
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Lyons gets $37.5M in replacement awards to offset foregone compensation from prior employer: $2.7M cash payments and $37.5M in equity awards vesting over multiple years across 2024-2028 performance periods.
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1 more material change behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Generated by AI · Jun 15, 2026 11:35 AM