Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 75

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 75
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(1) Mr. Coughlin's annualized salary was increased to $700,000 effective as of February 5, 2024, which is commensurate with his responsibilities and aligns him with other key members of senior management.

(2) Ms. Johnson retired from the Company on March 3, 2025. Ms. Johnson was not an NEO for years 2023 and 2022, so her compensation for those years has not been included consistent with applicable disclosure rules.

(3) Amounts in this column reflect the cash portion of annual variable compensation awards for the 2024, 2023, and 2022 performance years, in addition to the cash portion of LSAs for Messrs. Woods ($1 million) and Coughlin ($2 million) paid in June 2024. Mr. Van Saun elected to defer 50% of the cash portion of his 2024 variable compensation ($1,295,375 out of $2,590,750) pursuant to the Deferred Compensation Plan, which is discussed in the narrative following the 2024 Nonqualified Deferred Compensation table.

(4) Amounts in this column for 2024 reflect the aggregate grant date fair value of RSUs and PSUs granted in March 2024 (as part of 2023 performance year compensation) and in June 2024 (as part of the LSAs granted to select NEOs). The fair value of awards has been calculated in accordance with FASB ASC 718, using the valuation methodology and assumptions set forth in Note 18 to the Company’s 2024 Annual Report on Form 10-K for the year ended December 31, 2024, which are incorporated herein by reference.

For PSUs granted in 2024, the amounts above were calculated based on the probable outcome of the performance conditions as of the service inception date, and represent the value of the target number of units granted consistent with the estimate of aggregate compensation cost to be recognized over the service period determined as of the service inception date under FASB ASC 718. Maximum payout level for our annual 2024 PSUs and LSA PSUs is