ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Certain Officers; Compensatory Arrangements of Certain Officers.
Election of Director
(d) On August 29, 2014, the Board of Directors (the "Board") of
Zions Bancorporation (the "Company") adopted resolutions fixing the
number of directors of the Company at 11, an increase of one
directorship, and electing John C. Erickson to serve as a director
of the Company, thereby filling the vacancy created by the increase
in the size of the Board. Mr. Erickson will hold office until the
Company's next annual meeting of shareholders. He will be appointed
to committees of the Board at a later date.
served as Vice Chairman of Union Bank (formally MUFG Union Bank
National Association) from 2007 to 2014, during which time he also held
positions of Chief Risk Officer and Chief Corporate Banking Officer. Prior to
his appointment as Vice Chairman, he served in various other executive
leadership roles at Union Bank, where he was employed for more than 30 years.
There are no arrangements or understandings between Mr. Erickson
and any other
person in connection with his election to the Board. There are no transactions
between Mr. Erickson
and the Company or any of its subsidiaries that are
reportable under Item 404(a) of Regulation S-K.
As a nonemployee director, Mr. Erickson
will receive cash compensation and will
participate in the Company's director stock program. Further information about
nonemployee director compensation is included in the Company's proxy statement
filed with the Securities and Exchange Commission
on April 17, 2014