PNC Bank 2015 Annual Report Download - page 47

DIRECTORS OF THE REGISTRANT
The name, age and principal occupation of each of our
directors as of February 22, 2016 and the year he or she first
became a director is set forth below:
• Charles E. Bunch, 66, Executive Chairman of PPG
Industries, Inc. (coatings, sealants and glass
products) (2007)
• Paul W. Chellgren, 73, Operating Partner, Snow
Phipps Group, LLC (private equity) (1995)
• Marjorie Rodgers Cheshire, 47, President and Chief
Operating Officer, A&R Development Corp. (real
estate development company) (2014)
• William S. Demchak, 53, Chairman, Chief Executive
Officer and President of PNC (2013)
• Andrew T. Feldstein, 51, Chief Executive Officer and
Co-Chief Investment Officer of BlueMountain
Capital Management, LLC (asset management firm)
(2013)
• Daniel R. Hesse, 62, Retired President and Chief
Executive Officer of Sprint Corporation
(telecommunications) (2016)
• Kay Coles James, 66, President and Founder of The
Gloucester Institute (non-profit) (2006)
• Richard B. Kelson, 69, Chairman, President and
Chief Executive Officer, ServCo LLC (strategic
sourcing, supply chain management) (2002)
• Anthony A. Massaro, 71, Retired Chairman and
Chief Executive Officer of Lincoln Electric
Holdings, Inc. (manufacturer of welding and cutting
products) (2002)
• Jane G. Pepper, 70, Retired President of the
Pennsylvania Horticultural Society (non-profit)
(1997)
• Donald J. Shepard, 69, Retired Chairman of the
Executive Board and Chief Executive Officer of
AEGON N.V. (insurance) (2007)
• Lorene K. Steffes, 70, Independent Business Advisor
(executive, business management and technical
expertise) (2000)
• Dennis F. Strigl, 69, Retired President and Chief
Operating Officer of Verizon Communications Inc.
(telecommunications) (2001)
• Thomas J. Usher, 73, Non-executive Chairman of
Marathon Petroleum Corporation (oil and gas
industry) (1992)
• Michael J. Ward, 65, Chairman and Chief Executive
Officer CSX Corporation (railroads, transportation)
(2016)
•Gregory D. Wasson, 57, Retired President and Chief
Executive Officer of Walgreens Boots Alliance
(pharmacy, health and wellbeing enterprise) (2015)
PART II
ITEM 5 – MARKET FOR REGISTRANT’S
COMMON EQUITY, RELATED
STOCKHOLDER MATTERS AND ISSUER
PURCHASES OF EQUITY SECURITIES
(a) (1) Our common stock is listed on the New York Stock
Exchange and is traded under the symbol “PNC.” At the close
of business on February 17, 2016, there were 64,309 common
shareholders of record.
Holders of PNC common stock are entitled to receive
dividends when declared by the Board of Directors out of
funds legally available for this purpose. Our Board of
Directors may not pay or set apart dividends on the common
stock until dividends for all past dividend periods on any
series of outstanding preferred stock and certain outstanding
capital securities issued by the parent company have been paid
or declared and set apart for payment. The Board presently
intends to continue the policy of paying quarterly cash
dividends. The amount of any future dividends will depend on
economic and market conditions, our financial condition and
operating results, and other factors, including contractual
restrictions and applicable government regulations and
policies (such as those relating to the ability of bank and non-
bank subsidiaries to pay dividends to the parent company and
regulatory capital limitations). The amount of our dividend is
also currently subject to the results of the supervisory
assessment of capital adequacy and capital planning processes
undertaken by the Federal Reserve and our primary bank
regulators as part of the Comprehensive Capital Analysis and
Review (CCAR) process as described in the Supervision and
Regulation section in Item 1 of this Report.
The Federal Reserve has the power to prohibit us from paying
dividends without its approval. For further information
concerning dividend restrictions and other factors that could
limit PNC’s ability to pay dividends, as well as restrictions on
loans, dividends or advances from bank subsidiaries to the
parent company, see the Supervision and Regulation section in
Item 1, Item 1A Risk Factors, the Capital portion of the
Consolidated Balance Sheet Review section and the Liquidity
Risk Management portion of the Risk Management section in
Item 7, and Note 11 Borrowed Funds, Note 16 Equity and
Note 19 Regulatory Matters in the Notes To Consolidated
Financial Statements in Item 8 of this Report, which we
include here by reference.
The PNC Financial Services Group, Inc. – Form 10-K 29