On March 6, 2024, New York Community Bancorp, Inc. (Company) entered into an employment agreement term sheet with Joseph Otting (Otting Term Sheet), pursuant to which Mr. Otting became an employee of the company as of March 6, 2024 and will assume the role of a member of the company?s board of directors as of March 11, 2024, and Chief Executive Officer of the company as of April 1, 2024. The Otting Term Sheet provides that Mr. Otting?s employment under the terms in the Otting Term Sheet will continue until March 28, 2027 or an earlier termination of his employment. On March 6, 2024, the Company entered into a Non-Executive Chairman Term Sheet with Alessandro (Sandro) DiNello (DiNello Term Sheet), pursuant to which Mr. Dinello will continue to serve as Chief Executive Officer of the Company and Executive Chairman of the company?s board of directors through April 1, 2024, at which time he will become the Non-Executive Chairman of the Board and will cease to serve as an employee or executive officer of the Company.