AGM/EGMMay 20, 2026, 04:48 PM
TrustCo Bank Shareholders Approve 500K Share Increase for Equity Plan
AI Summary
TrustCo Bank Corp NY held its 2026 Annual Meeting, where shareholders approved an amendment to the 2019 Equity Incentive Plan, increasing the aggregate number of shares available for issuance by 500,000 to 1,200,000. All director nominees were elected, executive compensation was approved on an advisory basis, and Crowe LLP was ratified as the independent auditor. The company also highlighted strong performance, including a 2025 net income of $61 million, share repurchases of 1 million shares in 2025, and a 5.6% increase in its annual dividend to $1.52 per share.
Key Highlights
- Shareholders approved an amendment to the 2019 Equity Incentive Plan, increasing available shares by 500,000 to 1,200,000.
- All director nominees were elected to serve a one-year term until the 2027 Annual Meeting.
- Shareholders approved executive compensation on an advisory basis with 91.07% of votes cast for.
- Crowe LLP was ratified as the independent registered public accounting firm for 2026 with 98.76% of votes for.
- TrustCo Bank reported a net income of $61 million for 2025.
- The company repurchased 1 million shares in 2025 and approved 2 million shares for 2026.
- Annual dividend increased by 5.6% to $1.52 per share in 2025.
- TRST's share price grew 51.58% from April 2025 to April 2026.
Price Impact
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