State Street (STT) hires C. Jack Read as new chief accounting officer

Rhea-AI Filing Summary

State Street Corporation is appointing C. Jack Read as Executive Vice President, Global Controller and Chief Accounting Officer, effective August 10, 2026, succeeding Elizabeth M. Schaefer. Read, age 57, brings senior finance and risk experience from MSCI Inc., Citizens Financial Group, MUFG Americas, JPMorgan Chase, Washington Mutual Bank and KPMG.

Under a letter agreement, he will receive an annualized base salary of $450,000 and be eligible for incentive compensation with a target 2026 total incentive award of $2,100,000. He will also receive one-time transition payments of deferred stock valued at $1,730,000 and cash of $700,000 to offset compensation forfeited from his prior employer.

8-K Event Classification

2 items: 5.02, 9.01

2 items

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.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Base salary: $450,000 per year Target 2026 incentive award: $2,100,000 Deferred stock transition payment: $1,730,000 +3 more

6 metrics

Base salary $450,000 per year Annualized base salary under letter agreement

Target 2026 incentive award $2,100,000 Target total incentive compensation for 2026

Deferred stock transition payment $1,730,000 One-time transition payment in deferred stock

Cash transition payment $700,000 One-time transition payment in cash

Effective date August 10, 2026 Start date as Global Controller and Chief Accounting Officer

Executive age 57 Age of C. Jack Read at appointment

Key Terms

Executive Vice President, Chief Accounting Officer, incentive compensation, deferred stock, +1 more

5 terms

Executive Vice President financial

"appointed C. Jack Read to serve as Executive Vice President, Global Controller"

An executive vice president is a high-ranking leader within a company who oversees major parts of its operations or strategies. Think of them as senior managers responsible for important areas, similar to a vice principal in a school hierarchy. Their role matters to investors because they help guide the company's success and decision-making at the top level.

Chief Accounting Officer financial

"Global Controller and Chief Accounting Officer, effective August 10, 2026"

A chief accounting officer is a senior executive responsible for overseeing a company's financial records and ensuring all accounting practices are accurate and compliant with regulations. They play a key role in preparing financial reports that help investors understand the company's financial health, much like a trusted navigator guiding a ship through complex waters. Their work ensures transparency and trust in the company's financial information.

incentive compensation financial

"eligibility for discretionary incentive compensation awards under State Street’s incentive compensation program"

deferred stock financial

"One-time payments, in the form of deferred stock ($1,730,000) and cash ($700,000)"

transition payments financial

"Transition Payments. One-time payments, in the form of deferred stock ($1,730,000) and cash ($700,000)"

Understanding 8-K Material Events →

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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): March 27, 2026

______________________

State Street Corporation

(Exact name of Registrant as Specified in its Charter)

____________________

Massachusetts

001-07511

04-2456637

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

One Congress Street

Boston

Massachusetts

02114

(Address of principal executive offices, and Zip Code)

Registrant’s telephone number, including area code: (617) 786-3000

________________

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:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, $1 par value per share

STT

New York Stock Exchange

Depositary Shares, each representing a 1/4,000th ownership interest in a share of

STT.PRG

New York Stock Exchange

Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G, without par value per share

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.  ¨

Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 27, 2026, State Street Corporation appointed C. Jack Read to serve as Executive Vice President, Global Controller and Chief Accounting Officer, effective August 10, 2026, succeeding Elizabeth M. Schaefer.

Mr. Read, age 57, has served as Managing Director, Global Controller and Chief Accounting Officer of MSCI Inc., a provider of investment decision support tools and solutions for global investors, since August 2024, and from August 2018 to August 2024 he served as Executive Vice President, Controller and Chief Accounting Officer at Citizens Financial Group, a financial services and retail banking firm. Prior to that role, he held senior risk management, financial operations and tax roles at MUFG Americas, JPMorgan Chase and Washington Mutual Bank and was a tax advisory partner at KPMG.

In connection with his employment with State Street, Mr. Read entered into a letter agreement with State Street on March 27, 2026. Under the letter agreement, Mr. Read will receive:

•Base Salary and Target Incentive Compensation. An annualized base salary of $450,000 and eligibility for discretionary incentive compensation awards under State Street’s incentive compensation program, with a target 2026 total incentive compensation award of $2,100,000.

•Transition Payments. One-time payments, in the form of deferred stock ($1,730,000) and cash ($700,000), designed to compensate for the expected forfeiture and recovery of compensation previously granted by MSCI due to his departure and for transition.

Item 9.01.    Financial Statements and Exhibits.

(d)    Exhibits.

			Exhibit No.			Description
*			104			Cover Page Interactive Data File (formatted as Inline XBRL)

 * Submitted electronically herewith

SIGNATURES

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.

STATE STREET CORPORATION

By:

/s/ Mark Shelton

Name:

Mark Shelton

Title:

Executive Vice President, General Counsel and Secretary

Date:

March 31, 2026

FAQ

What executive leadership change did State Street (STT) announce?

State Street appointed C. Jack Read as Executive Vice President, Global Controller and Chief Accounting Officer, effective August 10, 2026. He will succeed Elizabeth M. Schaefer and brings extensive senior finance and risk management experience from MSCI, Citizens Financial Group, MUFG Americas, JPMorgan, Washington Mutual and KPMG.

What is C. Jack Read’s compensation package at State Street (STT)?

C. Jack Read will receive an annualized base salary of $450,000 plus eligibility for discretionary incentive compensation. His target 2026 total incentive compensation award is $2,100,000, reflecting the seniority of his Executive Vice President, Global Controller and Chief Accounting Officer role at State Street.

What transition payments will State Street (STT) provide to C. Jack Read?

State Street will provide one-time transition payments to C. Jack Read of $1,730,000 in deferred stock and $700,000 in cash. These payments are designed to compensate for expected forfeiture and recovery of compensation previously granted by MSCI due to his departure and for transition.

When does C. Jack Read’s new role at State Street (STT) become effective?

C. Jack Read’s appointment as Executive Vice President, Global Controller and Chief Accounting Officer at State Street becomes effective August 10, 2026. The company disclosed the appointment in an 8-K dated March 27, 2026, outlining both his background and key employment terms.

What prior experience does State Street’s new Chief Accounting Officer have?

Before joining State Street, C. Jack Read served as Managing Director, Global Controller and Chief Accounting Officer at MSCI Inc. since August 2024 and previously held senior controller and accounting roles at Citizens Financial Group, plus senior roles at MUFG Americas, JPMorgan, Washington Mutual and KPMG.

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 4.2 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 6.3 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 27.2 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 16.1 KB