Fulton Financial (NASDAQ: FULT) appoints David Schulz to board, bringing total to 11 members
Rhea-AI Filing Summary
Fulton Financial Corporation appointed David S. Schulz, age 60, to its board of directors, with a term commencing September 14, 2026 and expiring at the 2027 annual meeting of shareholders. The board determined he is independent under NASDAQ and SEC rules, and he will serve on the Audit and Risk committees as well as the Fulton Bank, N.A. board.
As a non-employee director, Schulz will receive Fulton’s standard compensation, which was increased effective January 1, 2026 to an annual cash retainer of $80,000 and an annual equity award of $90,000. Upon joining, he will receive a pro rata RSU grant with a grant date fair value of approximately $64,400, vesting on June 1, 2027. With his addition, the board will have 11 members. Schulz brings extensive senior financial leadership experience at Wesco International, Armstrong businesses and service on Sterling Infrastructure’s board.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Annual cash retainer: $80,000
Annual equity award: $90,000
Initial RSU grant: $64,400
+4 more
7 metrics
Annual cash retainer
$80,000
Annual cash retainer for Fulton non-employee directors effective January 1, 2026
Annual equity award
$90,000
Annual equity award for Fulton non-employee directors effective January 1, 2026
Initial RSU grant
$64,400
Grant date fair value of pro rata RSU award to Schulz, vesting June 1, 2027
Board size
11 members
Total members of Fulton’s board after Schulz joins
Company size
$34 billion
Fulton described as a $34 billion Lancaster, Pa.-based financial holding company
Employees
more than 3,400
Number of employees at Fulton
Financial centers
more than 215
Number of financial centers operated across five states through Fulton Bank, N.A.
Key Terms
restricted stock units, non-employee directors, financial holding company, Audit Committee, +1 more
5 terms
restricted stock units financial
"a pro rata grant of restricted stock units (“RSUs”) under Fulton’s Amended"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
non-employee directors financial
"agreements provided to other Fulton non-employee directors, including a cash"
Non-employee directors are board members who do not work for the company as salaried employees and usually do not hold day-to-day management roles. They act like outside referees or independent coaches, providing oversight, asking tough questions, and protecting shareholders’ interests; investors care because these directors help ensure management is accountable, reduce conflicts of interest, and influence decisions that affect company strategy and long-term value.
financial holding company financial
"Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has"
A financial holding company is a parent firm that owns and oversees banks and other financial businesses, such as lending, insurance, or investment services. It matters to investors because it bundles several money-making activities under one roof—like a parent managing several children—so returns, risks, and regulatory rules for banking apply to the whole group; trouble in one unit can affect the company’s profits, capital needs, and dividends.
Audit Committee financial
"he will serve as a member of Fulton’s Audit Committee and Risk"
A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.
Risk Committee financial
"serve as a member of Fulton’s Audit Committee and Risk Committee"
A risk committee is a group, usually part of a company’s board or senior leadership, tasked with spotting, assessing and guiding how the company manages threats to its finances, operations and compliance—think of it as a regular safety inspection for the business. Investors care because the committee’s work influences how likely the company is to avoid big losses, regulatory trouble or surprises that can hurt earnings and share value.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Fulton Financial (FULT) announce regarding its board of directors?
Fulton Financial announced that David S. Schulz has been appointed to its board of directors. His term begins on September 14, 2026 and will run until Fulton’s 2027 annual meeting of shareholders, adding significant financial leadership experience to the board.
When will David S. Schulz’s term on the Fulton Financial (FULT) board begin and end?
David S. Schulz’s term will begin on September 14, 2026 and expire at Fulton’s 2027 annual meeting of shareholders. He has also been elected to the board of Fulton Bank, N.A. for a term on the same schedule.
What committees will David S. Schulz serve on at Fulton Financial (FULT)?
David S. Schulz will serve on Fulton’s Audit Committee and Risk Committee. He has also been appointed to the board of Fulton Bank, N.A., aligning his governance role across both the holding company and its principal banking subsidiary.
How will Fulton Financial (FULT) compensate David S. Schulz as a non-employee director?
As a non-employee director, Schulz will receive an annual cash retainer of $80,000 and an annual equity award of $90,000. At the start of his term, he will also receive a pro rata RSU grant of about $64,400, vesting on June 1, 2027.
What is Fulton Financial (FULT)’s size and operating footprint?
Fulton is a $34 billion Lancaster, Pennsylvania-based financial holding company with more than 3,400 employees. It operates over 215 financial centers across Pennsylvania, New Jersey, Maryland, Delaware and Virginia through its banking subsidiary, Fulton Bank, N.A.
How will David S. Schulz’s appointment change Fulton Financial (FULT)’s board size?
With the addition of David S. Schulz, Fulton Financial’s board will have 11 members. He will bring extensive experience in finance, strategic planning, risk and mergers and acquisitions from prior senior roles at Wesco and Armstrong companies.
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)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||||||||
(Address of Principal Executive Offices) | (Zip Code) | ||||||||||||||||
(717 ) 291-2411
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
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.
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 21, 2026, the Fulton Financial Corporation (“Fulton”) board of directors (the “Board”) elected David S. Schulz (“Mr. Schulz”), age 60, to the Board for a term commencing September 14, 2026 and expiring at Fulton’s 2027 annual meeting of shareholders. Mr. Schulz served as Senior Vice President and Chief Financial Officer of Wesco International, Inc. (“Wesco”) (NYSE: WCC) from 2016 to June 2020, Executive Vice President and Chief Financial Officer of Wesco from June 2020 to February 2026 and as Executive Vice President and Special Advisor to the CEO of Wesco from February 2026 until his retirement on May 31, 2026. Prior to joining Wesco, Schulz served as Senior Vice President and Chief Operating Officer of Armstrong Flooring, Inc. and was previously Senior Vice President and Chief Financial Officer of Armstrong World Industries, Inc. and Vice President of Finance of the Armstrong Building Products division. Before joining Armstrong World Industries in 2011, he held various financial leadership roles with Procter & Gamble and The J.M. Smucker Company. He was also an officer in the United States Marine Corps.
Prior to his election, the Board determined that Mr. Schulz is independent pursuant to NASDAQ and Securities and Exchange Commission rules. Mr. Schulz will also serve as a member of Fulton’s Audit Committee and Risk Committee.
There is no arrangement or understanding between Mr. Schulz and any other person pursuant to which Mr. Schulz was selected as a director.
Mr. Schulz will receive the compensatory and other agreements and arrangements provided to other Fulton non-employee directors, including a cash retainer and equity awards described in Fulton’s Proxy Statement dated April 1, 2026 under the heading “Director Compensation,” except that, effective January 1, 2026, the annual cash retainer and annual equity award provided to Fulton non-employee directors were increased to $80,000 and $90,000, respectively. Concurrently with the commencement of Mr. Schulz’s term as a Fulton director, Mr. Schulz will receive a pro rata grant of restricted stock units (“RSUs”) under Fulton’s Amended and Restated 2023 Director Equity Plan having a grant date fair value equal to approximately $64,400. The RSUs will vest on June 1, 2027.
There are no related party transactions in which Mr. Schulz or any of his immediate family members have a direct or indirect material interest that would require disclosure under Item 404(a) of Regulation S-K.
On July 21, 2026, the Fulton Bank, National Association (the “Bank”) board of directors (the “Bank Board”) also elected Mr. Schulz to the Bank Board for a term commencing September 14, 2026 and expiring at the Bank’s 2027 annual meeting of shareholders.
On July 21, 2026, Fulton issued a press release, attached as Exhibit 99.1 and incorporated herein by reference to this Current Report on Form 8-K, to announce the election of Mr. Schulz.
| Exhibit No. | Description | ||||
99.1 | Press Release dated July 21, 2026 | ||||
| 104 | Cover page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) | ||||
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.
| Date: July 21, 2026 | FULTON FINANCIAL CORPORATION | ||||
| By: /s/ Natasha R. Luddington | |||||
| Natasha R. Luddington | |||||
| Senior Executive Vice President, | |||||
| Chief Legal Officer and Corporate Secretary | |||||
FOR IMMEDIATE RELEASE Contact: Jennifer Bowers 717-682-0174 FULTON FINANCIAL CORPORATION APPOINTS DAVID S. SCHULZ TO BOARD OF DIRECTORS Lancaster, Pa. (July 21, 2026) – Fulton Financial Corporation (NASDAQ: FULT) (“Fulton”) today announced the appointment of David S. Schulz as a member of its board of directors (the “Board”) for a term commencing September 14, 2026 and expiring at Fulton’s 2027 annual meeting of shareholders. “We’re excited to welcome Dave to Fulton’s board of directors,” said Curt Myers, Fulton Chairman, CEO, and President. “Dave brings extensive financial leadership experience gained through more than a decade of service with publicly traded companies. His expertise in finance, strategic planning, risk, and mergers and acquisitions will provide valuable perspective as we continue to execute our growth strategy and create long-term value for our shareholders, customers and communities.” With the addition of Schulz, Fulton’s Board will have 11 members, and he will serve on the Audit and Risk committees. Schulz has also been appointed to the board of directors of Fulton’s banking subsidiary, Fulton Bank, N.A. Schulz served as Senior Vice President and Chief Financial Officer of Wesco International, Inc. (“Wesco”) (NYSE: WCC) from 2016 to June 2020, Executive Vice President and Chief Financial Officer of Wesco from June 2020 to February 2026 and as Executive Vice President and Special Advisor to the CEO of Wesco from February 2026 until his retirement on May 31, 2026. Prior to joining Wesco, Schulz served as Senior Vice President and Chief Operating Officer of Armstrong Flooring, Inc. and was previously Senior Vice President and Chief Financial Officer of Armstrong World Industries, Inc. and Vice President of Finance of the Armstrong Building Products division. Before joining Armstrong World Industries in 2011, he held various financial leadership roles with Procter & Gamble and The J.M. Smucker Company. He was also an officer in the United States Marine Corps.
In 2025, Schulz joined the board of Sterling Infrastructure, Inc. (NASDAQ: STRL), and he was appointed as chair of the audit committee in 2026. He also serves on the company’s compensation and talent development committee. ABOUT FULTON FINANCIAL CORPORATION Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has more than 3,400 employees and operates more than 215 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A. Additional information on Fulton can be found at https://investor.fultonbank.com.