Business Context and Reporting Period
This Form 8-K is a current report filed by Byline Bancorp, Inc. on April 12, 2020, regarding events occurring on that date. The registrant is a Delaware corporation with principal executive offices in Chicago, Illinois, and its common stock trades on the New York Stock Exchange under the symbol "BY".
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report is strictly informational regarding a corporate governance event.
Material Changes
The filing reports the passing of Jaime Ruiz Sacristán, a director of the Company and its subsidiary, Byline Bank, on April 12, 2020. The cause of death was complications from the coronavirus. Mr. Sacristán had served as a director since June 2013 and held the following key positions:
- Chairman of the Governance and Nominating Committee
- Member of the Compensation Committee and Risk Committee
- Member of the Executive Credit Committee, ALCO Committee, and Trust Committee of the Bank
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on future performance. The primary risk disclosed is the loss of a long-serving director due to the ongoing coronavirus pandemic. The Company announced the passing on April 15, 2020, via a press release attached as Exhibit 99.1.
Key Facts for Investor Verification
- Verify the appointment of a new director to fill the vacancy left by Jaime Ruiz Sacristán.
- Review the attached press release (Exhibit 99.1) for any additional details on succession planning.
- Monitor subsequent filings for potential impacts on the Governance, Compensation, and Risk Committees.