Company: FITBI
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-045653
Chunk: 46

Company: FIFTH THIRD BANCORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 46
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 new roles within the Bancorp and assist with any necessary transitions before the RSUs vest. All awards will be settled in shares of our common stock, with accrued cash dividends paid in cash at the award vest. All awards are subject to the forfeiture and clawback provisions outlined in our clawback policy.

| Fifth Third 2025 Proxy Statement |     | 55 |

COMPENSATION DISCUSSION AND ANALYSIS Qualitative Performance Assessments. The individual qualitative performance assessment is a review of each Named Executive Officer’s performance against a set of stated objectives. This assessment is performed by the Board of Directors with respect to the chief executive officer’s performance and by the chief executive officer with respect to the performance of the other Named Executive Officers. Each Named Executive Officer was evaluated on the following objectives:

| 2024 financial performance                  |
| Strategic initiatives                       |
| Risk management                             |
| Operational excellence                      |
| Customer experience                         |
| Talent optimization and employee engagement |
| Promotion of the Bank’s values and culture  |

The Committee’s Considerations. The Committee considers both the aggregate amount and mix of an executive officer’s Total Direct Compensation when making the decisions discussed above. The Committee assesses Total Direct Compensation relative to competitive market data annually. Recommendations for executive compensation are reviewed and approved during one of the Committee’s first quarter meetings. Based on its most recent review of the competitive data, the Committee has determined that the compensation structure for executive officers is effective and appropriate. The structure reflects the Company’s compensation philosophy in that its incentive payout ranges are aligned with the competitive market data; it has appropriate leverage to ensure a strong linkage between compensation, risk outcomes, and performance; and it drives rewards based on the most relevant performance measures for the Company and shareholders. The Committee also has reviewed the internal relationships between the compensation for the chief executive officer and for other executive officers and has deemed them to be appropriate. The Committee believes that the relative difference between the compensation of the chief executive officer and the compensation of the Company’s other executive officers is consistent with such differences found in the Company’s Compensation Peer Group. Objectives considered for 2024 performance for each Named Executive Officer and Executive Compensation Decision Highlights are discussed in the next section. For Mr. Spence: As President and CEO, Mr. Spence was responsible for delivering both short- and long-term financial results consistent with the strategic plan. Additionally, he was responsible for driving the long-term investment strategy and ensuring their alignment with Company’s overall ambition, and addressing the current and changing needs of customers, shareholders, employees,