Federal Home Loan Bank of Chicago announces CEO departure

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

On November 2, 2026, the Federal Home Loan Bank of Chicago (the "Bank") announced that its Board of Directors and Michael A. Ericson, the Bank's President and Chief Executive Officer ("CEO"), agreed that Mr. Ericson will conclude his tenure with the Bank, effective December 31, 2026.

The Bank's Board of Directors is initiating a process to identify a permanent successor for Mr. Ericson. To ensure continuity during this process, the Board has named Virxhini Gjonzeneli as Interim President and CEO, effective January 1, 2027. Ms. Gjonzeneli, age 45, has been an Executive Vice President of the Bank since January 2021 and has served as the Bank's Chief Financial Officer and Group Head, Financial Accounting and Markets since January 2023. Prior to that, Ms. Gjonzeneli was Group Head of Member Support and Strategy from 2017 to 2022 and Senior Vice President, Director of Enterprise Risk Management starting in 2015. Ms. Gjonzeneli joined the Bank in 2003, and from 2007 to 2015 held positions of increasing levels of responsibility within the Bank's Credit group.

Compensation relating to Mr. Ericson's departure and Ms. Gjonzeneli's service as future Interim President and CEO is being finalized and will be subject to review and non-objection by the Federal Housing Finance Agency. The Bank will disclose any material compensatory arrangements with Mr. Ericson and Ms. Gjonzeneli once available as required under Item 5.02 of Form 8-K.

Item 7.01 Regulation FD Disclosure.

Attached is a copy of the Bank's press release, as Exhibit 99.1, and a copy of the Bank's communication to its members, as Exhibit 99.2, regarding the executive management changes described in this Form 8-K. The information being furnished pursuant to Item 7.01 on this Form 8-K and the information contained in Exhibits 99.1 and 99.2 to this Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

99.1

Press Release dated November 2, 2026

99.2

Communication to Members dated November 2, 2026

104 Cover Page Interactive Data File (Formatted as inline XBRL)

Signature(s)

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.

Federal Home Loan Bank of Chicago

By: /s/ Laura M. Turnquest

Name: Laura M. Turnquest

Date: November 2, 2026

Title: Executive Vice President, Chief Legal Officer, General Counsel and Corporate Secretary

Press Release

Federal Home Loan Bank of Chicago Announces Leadership Transition

• Michael Ericson to conclude tenure as President and Chief Executive Officer effective December 31, 2026, and Virxhini Gjonzeneli appointed interim President and CEO effective January 1, 2027

Chicago, Illinois (November 2, 2026) - The Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced that Michael A. Ericson, President and Chief Executive Officer, will conclude his tenure effective December 31, 2026, following more than 20 years of dedicated service.

"On behalf of the Board, I want to express our deep gratitude to Michael for his leadership and dedication to FHLBank Chicago," said Michelle L. Gross, Chairperson of FHLBank Chicago's Board of Directors. "Michael has been a tireless advocate for our members and the communities they serve, and his leadership helped translate the Bank's financial strength into greater mission scale. Throughout his tenure, the Bank has delivered strong financial performance, delivered exceptional value to members, championed affordable housing, and built a foundation for continued success. We are grateful for his contributions and wish him the best in his next chapter."

"After more than two decades at FHLBank Chicago, I am proud of what we have accomplished