Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 53

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 53
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 could range from 0%-150%of target depending on actual performance achieved.

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Michael Todaro - Senior Executive Vice President and Chief Risk Officer As Chief Risk Officer, Mr. Todaro was responsible for M&T’s risk management strategy, governance, and relationships with regulators and supervisory agencies. For performance year 2024, the C&HC Committee considered the following performance factors (among others discussed in this CD&A) in establishing his TDC:

| Company  Results  (“What”)    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Strong financial performance and long-term shareholder return   •  Exceeded Operating Plan for each of the following key metrics: net operating income, diluted net operating earnings per common share, net operating returns on average tangible assets and average tangible equity(1)   •  Net operating income(1) was $2.63 billion – the second highest level in our company’s history – only behind 2023, which was the highest ever earned at M&T and reflected an improved net interest margin in that year due largely to the rapid rise in interest rates   •  Diluted net operating earnings per common share(1) were $14.88, and net operating return on average tangible assets(1) of 1.30% was equal to the highest among peers   •  Net operating return on average tangible common equity(1) was 14.5%; excluding the impact of accumulated other comprehensive income, net operating return on average tangible common equity(1) was top quartile among peers   •  Top quartile amongst peers for price/tangible book value and price/earnings multiple expansion   •  Continued strengthening of capital position as Common Equity Tier 1 ratio increased for the 7th consecutive quarter to 11.68% at the end of 2024; resumed share repurchases in Q3 2024   •  Increased quarterly common stock dividend per share 3% during 2024, representing the 8th consecutive year of increases |
|                               | Progress against Strategic Imperatives   •  Major contributor in development of strategies and executing programs to reduce classified asset levels and Commercial Real Estate concentrations to below prescribed limits/targets   •  Significant progress on strengthening the independent risk management function, including creation of regulatory risk management committee, maturing/simplifying risk ratings and metrics, and strong project/change management |