Company: FITBI
Filing Date: 2025-11-05
Form Type: S-4
Source: 0001193125-25-267273
Chunk: 171

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-05
Form: S-4
Chunk 171
---
 |     |              | 1,137,085 |     |              |  2,234,774 |     |           |  3,485,043 |

| (3) | Perquisites/Benefits. Consists of the estimated value of outplacement services for each named executive                                                                                                              
 officer. Such benefits are “double trigger” and are provided only upon a qualifying termination of employment following the effective time, as described in more detail under “—Change-in-Control Agreements” above. |

| (4) | Tax Reimbursements. The amount of the modified make-whole payment for excise tax under Section 4999                                                                                                                                               
 of the Code is dependent on a variety of factors and cannot be determined at this time. The amount provided here is a conservative estimate assuming Mr. Farmer receives the payments under the CIC Agreement and equity award vesting consistent 
 with the assumptions described above, and does not reflect any actions to mitigate the impact of Section 4999 of the Code, including valuation of Mr. Farmer’s non-competition agreement under                                                    
 the new letter agreement. Such benefit is payable when the underling tax payment is payable to the applicable tax authority.                                                                                                                      |

Governance of Fifth Third After the First Merger As of the effective time, the number of directors constituting the board of directors of Fifth Third will be increased by three (3), and three (3) directors from Comerica’s board of directors immediately prior to the effective time determined by mutual agreement of Comerica and Fifth Third will be appointed to the Fifth Third board of directors. Upon his retirement, Mr. Farmer, Current Chairman, President and Chief Executive Officer of Comerica, will join Fifth Third’s board of directors. Timothy N. Spence, Chair of the Board of Directors of Fifth Third and Fifth Third Bank and President and Chief Executive Officer of Fifth Third and Fifth Third Bank, and Nicholas K. Akins, Lead Independent Director of Fifth Third and Fifth Third Bank, will each continue to serve in their roles at Fifth Third and Fifth Third Bank following the transaction. 115

Accounting Treatment

Fifth Third and Comerica each prepare their respective financial statements in accordance with accounting principles generally accepted in the United States
(“GAAP”). The mergers will be accounted for using the acquisition method of accounting, and Fifth Third will be treated as the accounting acquirer.

Regulatory Approvals

To
complete the first merger, Fifth Third and Comerica need to obtain approvals or