Business Context and Reporting Period
This Form 8-K Current Report was filed by Byline Bancorp, Inc. on October 3, 2023. The filing reports a corporate governance event: the appointment of a new director to the Boards of Directors of both Byline Bancorp, Inc. and its subsidiary, Byline Bank.
Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes and associated compensation arrangements.
Material Changes
The primary material change reported is the appointment of Carlos Ruiz Sacristán as a Director, effective October 3, 2023. Mr. Sacristán brings extensive experience from the Mexican government and private sector, including former roles as CEO of PEMEX and Chairman of IEnova (Sempra Energy subsidiary).
Guidance, Outlook, and Compensation
- Compensation: As a non-employee director, Mr. Sacristán is entitled to a prorated portion of the 2023 annual director retainer of $100,000, plus reimbursement for reasonable out-of-pocket expenses.
- Committee Assignments: Specific Board committee assignments for Mr. Sacristán have not yet been determined.
- Related Party Transactions: The filing states there are no reportable related party transactions between Mr. Sacristán, his immediate family, and the Company.
- Outlook: No financial guidance or strategic outlook is provided in this specific filing.
Key Facts for Investor Verification
- Verify the full text of the press release (Exhibit 99.1) for additional context on the appointment.
- Confirm future Board committee assignments for the new director once determined.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial performance data.