Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 94

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 94
---
 S-K,the Company is providing the following descriptions of the relationships between information presented in the PvP table.

| 2025 Proxy Statement | |     | 79 |

Pay Versus Performance Compensation Actually Paid and Cumulative TSR The amount of compensation actually paid to the PEOs, Messrs. King and Rogers (as applicable), and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding Messrs. King and/or Rogers, as applicable) is generally aligned with the Company’s cumulative TSR over the five years presented in the table. The alignment of compensation actually paid with the Company’s cumulative TSR over the period presented is primarily because a significant portion of the compensation actually paid to the NEOs is comprised of equity awards. As described in more detail in the CD&A, as of December 31, 2024, approximately 51% of the value of total target compensation awarded to the CEO and 47% of the value of total target compensation awarded to the other NEOs consists of equity awards, including RSU and PSU awards. Compensation Actually Paid and GAAP Net Income The amount of compensation actually paid to the PEOs, Messrs. King and Rogers (as applicable), and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding Messrs. King and/or Rogers, as applicable) is generally alignedwith the Company’s GAAP net income over the five years presented in the PvP table. While the Company has not emphasized net income as a performance measure in the overall executive-compensation program, the measure of net income is correlated with several of the performance measures which the Company uses when assessing performance or setting goals in the Company’s short-term and long-term incentive compensation plans, such as EPS and PPNR. Each of these measures is either calculated using net income as a component or is a significant driver of net income. As described in more detail in the CD&A, as of December 31, 2024, approximately 68% of the value of total target compensation awarded to the CEO and 66% of the value of total target compensation

| 80 |     | |2025 Proxy Statement |

Pay Versus Performance awarded to the other NEOs is performance-based pay largely dependent on financial measures that are calculated using net income as a key element or that have a significant impact on net income. Compensation Actually Paid and EPS The amount of compensation actually paid to the PEOs, Messrs. King and Rogers (as applicable), and the average