Company: FITBI
Filing Date: 2025-11-05
Form Type: S-4
Source: 0001193125-25-267273
Chunk: 106

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-05
Form: S-4
Chunk 106
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 effective time of the first merger will convert into the right to receive one (1) share of a newly issued series of Fifth Third preferred stock with terms that are not materially less favorable than the terms of Comerica preferred stock.
Each outstanding Comerica depositary share representing a 1/40th interest in a share of Comerica preferred stock will become a new Fifth Third depositary share and will represent a 1/40th interest in a share of the applicable series of new Fifth
Third preferred shares.

Fifth Third voting shareholders are being asked to approve the Fifth Third stock issuance proposal and Comerica stockholders are
being asked to adopt the Comerica merger proposal. See “The Merger Agreement” beginning on page 119 for additional and more detailed information regarding the legal documents that govern the mergers, including information about
the conditions to the completion of the first merger and the provisions for terminating or amending the merger agreement.

74

Background of the Mergers

In connection with Comerica’s ongoing evaluation of its long-term prospects, Comerica’s senior management and board of directors
regularly assess Comerica’s business objectives and strategies, in light of several factors, including the macroeconomic and banking industry climate and expectations, all with the goal of enhancing long-term value for Comerica’s
stockholders. As a part of this review, Comerica’s senior management and board of directors consider and evaluate various strategic alternatives, including performance improvement, organic growth, capital allocation, acquisitions and business
combination transactions.

Fifth Third’s board of directors and senior management regularly evaluate Fifth Third’s strategic
course and discuss Fifth Third’s strategic options, including organic and inorganic growth opportunities. From time to time, Fifth Third considers specific acquisitions if they will accelerate growth, are compatible with Fifth Third’s
business plans and culture and create the potential for meaningful financial rewards for Fifth Third’s shareholders.

Over
the years, Comerica’s senior management and board of directors have had discussions with investment bankers and financial institutions, in an effort to maintain knowledge of the relevant market for business combinations and to gauge the
potential interest level and suitability of various financial institutions with respect to exploring a business combination with Comerica. These contacts have occurred through formal and informal meetings and telephone calls and impromptu meetings
at investor conferences, banking industry conferences and social settings, and have been preliminary and exploratory in nature. Curtis C. Farmer, Chairman, President and Chief Executive Officer of Comerica, and