Company: CFG-PE
Filing Date: 2025-08-12
Form Type: 8-K
Source: 0001193125-25-178517
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Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-12
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

On August 12, 2025, Citizens Financial Group, Inc. (the “ Company” or “ Citizens”) announced the appointment of Aunoy Banerjee as Executive Vice President and Chief Financial Officer (“ CFO”). Mr. Banerjee, age 47, joins Citizens from Barclays, where he currently serves as CFO of Barclays Bank PLC, leading a large, global, multifunctional team supporting multiple lines of business including U. S. Consumer, Global Corporate and Investment Banking, and Private Bank and Wealth Management. Prior to Barclays, he served in a number of senior roles with increasing responsibility at State Street Corporation over eight years, most recently as Head of Investments & Third Party Partnerships and Chair of State Street India. A25-yearfinancial services veteran, Mr. Banerjee will have responsibility at Citizens for the Financial Planning and Analysis, Business Line Finance Groups, Controller, Investor Relations, Treasury, Tax, and Capital Management functions, as well as Property & Procurement.

Mr. Banerjee will join Citizens on October 24, 2025. As previously announced, current Vice Chair and CFO John Woods will depart the Company on August 15, 2025. Chris Emerson, Executive Vice President and Head of Corporate Planning & Enterprise Finance, will serve as CFO during the interim period.

In connection with his appointment, Mr. Banerjee entered into an employment agreement with the Company on August 6, 2025. Mr. Banerjee’s employment agreement provides that he will have an annual base salary of $700,000 and guaranteed 2025 incentive compensation of $3,700,000, discounted by the amount of role-based allowance received from his former employer in 2025. Incentive compensation will be payable in the same form and timeframe as for the Company’s other executive committee members. In addition, Mr. Banerjee will receive a buy-outaward with a grant date value of approximately $5,000,000 as consideration for the forfeiture of awards granted by his previous employer, to be awarded in a mix of cash and restricted stock units, each vesting over four years.

Mr. Banerjee’s employment agreement provides that in the event his employment is terminated by the Company without “cause” (as defined in the employment agreement), he will receive two weeks’ salary for each year of service, subject to a minimum severance payment of