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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

Date of Report (date of earliest event reported): May 28, 2024

Capture.jpg

(Exact name of registrant as specified in its charter)
Customers Bancorp, Inc.
Pennsylvania001-3554227-2290659
(State or other jurisdiction of
incorporation)		(Commission File number)(IRS Employer
Identification No.)
701 Reading Avenue
West Reading PA 19611
(Address of principal executive offices, including zip code)
(610) 933-2000
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
 
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instructions A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolsName of each exchange on which registered
Voting Common Stock, par value $1.00 per shareCUBINew York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series E, par value $1.00 per share		CUBI/PENew York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual
Preferred Stock, Series F, par value $1.00 per share		CUBI/PFNew York Stock Exchange
5.375% Subordinated Notes due 2034CUBBNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

At the Annual Meeting of Shareholders of Customers Bancorp, Inc. (the “Company”) on May 28, 2024, the shareholders approved an amendment to the Company’s 2019 Stock Incentive Plan which provides for an increase in the total number of shares of the Company’s common stock authorized under that plan by 750,000, from 2,570,325 to 3,320,325. The terms and conditions of the Company’s 2019 Stock Incentive Plan, as amended, are described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 17, 2024.

Item 5.07    Submission of Matters to a Vote of Security Holders.

The Company held its Annual Meeting of Shareholders on May 28, 2024 for the purpose of considering and acting upon the below proposals. A total of 31,521,930 shares were outstanding and entitled to vote at the Annual Meeting. The number of votes cast for, against, or withheld as to each such matter or nominee, as well as the number of abstentions as to each such matter or nominee, are set forth below.

1.To elect the following three Class I directors of the Company to serve a three-year term.

FORWITHHELDBROKER NON-VOTES
Jay S. Sidhu24,375,783 9,448 2,256,092 
Robert J. Buford23,429,357 32,285 2,256,092 
Rajeev V. Date24,101,317 16,597 2,256,092 

The following additional directors continued in office after the Annual Meeting: Andrea R. Allon, Bernard B. Banks, Robert N. Mackay, Daniel K. Rothermel, T. Lawrence Way and Steven J. Zuckerman.

2.    To ratify the appointment of Deloitte & Touche LLP as independent registered public accounting firm of the Company for the fiscal year ending December 31, 2024.

FORAGAINSTABSTAIN
27,515,645 112,888 11,118 

There were no broker non-votes on the proposal.

3.    To approve, on an advisory basis, our named executive officer compensation.

FORAGAINSTABSTAINBROKER NON-VOTES
24,701,922 585,984 95,653 2,256,092 

4.    To approve, on an advisory basis, the frequency of future votes to approve the compensation for our named executive officers.

ONE YEARTWO YEARSTHREE YEARSABSTAINBROKER NON-VOTES
23,125,637 6,132 2,199,415 52,375 2,256,092 

5.    To approve an amendment to the Company’s 2019 Stock Incentive Plan.

FORAGAINSTABSTAINBROKER NON-VOTES
15,499,060 9,818,391 66,108 2,256,092 





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.

CUSTOMERS BANCORP, INC.
By: /s/ Andrew B. Sachs
Name: Andrew B. Sachs
Title: Executive Vice President - General Counsel and Corporate Secretary

Date: May 29, 2024

v3.24.1.1.u2
Document and Entity Information
May 28, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date May 28, 2024
Entity Registrant Name Customers Bancorp, Inc.
Entity Incorporation, State or Country Code PA
Entity File Number 001-35542
Entity Tax Identification Number 27-2290659
Entity Address, Address Line One 701 Reading Avenue
Entity Address, City or Town West Reading
Entity Address, State or Province PA
Entity Address, Postal Zip Code 19611
City Area Code 610
Local Phone Number 933-2000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001488813
Amendment Flag false
Voting Common Stock, par value $1.00 per share | New York Stock Exchange  
Entity Information [Line Items]  
Title of 12(b) Security Voting Common Stock, par value $1.00 per share
Trading Symbol CUBI
Security Exchange Name NYSE
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E, par value $1.00 per share | New York Stock Exchange  
Entity Information [Line Items]  
Title of 12(b) Security Fixed-to-Floating Rate Non-Cumulative PerpetualPreferred Stock, Series E, par value $1.00 per share
Trading Symbol CUBI/PE
Security Exchange Name NYSE
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, par value $1.00 per share | New York Stock Exchange  
Entity Information [Line Items]  
Title of 12(b) Security Fixed-to-Floating Rate Non-Cumulative PerpetualPreferred Stock, Series F, par value $1.00 per share
Trading Symbol CUBI/PF
Security Exchange Name NYSE
5.375% Subordinated Notes due 2034 | New York Stock Exchange  
Entity Information [Line Items]  
Title of 12(b) Security 5.375% Subordinated Notes due 2034
Trading Symbol CUBB
Security Exchange Name NYSE
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