UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective January 31, 2025, Karthik Sridharan, Senior Executive Vice President and Chief Operations and Technology Officer of Fulton Financial Corporation ("Fulton"), will be leaving Fulton. Under the Executive Employment Agreement between Fulton and Mr. Sridharan effective as of June 12, 2023 (the "Employment Agreement"), Mr. Sridharan's separation from employment will be considered a termination without "Cause" (as defined in the Employment Agreement). In accordance with the terms of the Employment Agreement, subject to Mr. Sridharan's execution and non-revocation of a general release of claims in favor of Fulton, Mr. Sridharan will receive his annual base salary in effect immediately prior to his separation from employment for a period of twelve (12) months, any vested but unpaid bonus as of the date of separation from employment, a cash bonus for the fiscal year in which the separation from employment occurs equal to the payout at the target level established for such fiscal year, pro-rated to the date of separation from employment, and continued eligibility to participate in, or an amount equal to the cost of participating in, Fulton's health and welfare employee benefit plans for twelve (12) months after separation from employment. In addition, under the terms of the Fulton Financial Corporation 2022 Amended and Restated Equity and Cash Incentive Compensation Plan (the "Plan"), "Time-Vested Awards" (as defined in the Plan) previously granted to Mr. Sridharan will vest in accordance with the terms of the Plan. Other outstanding unvested awards under the Plan granted to Mr. Sridharan will be forfeited.
| Exhibit No. | Description | ||||
| 104 | Cover page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 31, 2025 | FULTON FINANCIAL CORPORATION | ||||
| By: /s/ Natasha R. Luddington | |||||
| Natasha R. Luddington | |||||
| Senior Executive Vice President, | |||||
| Chief Legal Officer and Corporate Secretary | |||||