Washington Federal (WAFD) has released an update to notify the public and investors about its officers.
WaFd, Inc. and Luther Burbank Corporation have entered into a merger agreement, following which Luther Burbank will merge into WaFd, and subsequently, Luther Burbank Savings will merge into WaFd Bank. The boards of both WaFd and WaFd Bank will expand to include 12 members, with the addition of two Luther Burbank-recommended directors, Bradley M. Shuster and M. Max Yzaguirre, at the merger’s effective time. These appointees will serve until WaFd’s next annual shareholder meeting and will receive the same compensation as other board members, with their specific board class and committee roles yet to be determined.
For further insights into WAFD corporate activity, check out TipRanks’ Insiders Trading Activity page.
For a comprehensive understanding of the announcement, you can read the full document here.