Company: FITBI
Filing Date: 2025-10-09
Form Type: 425
Source: 0001193125-25-234729
Chunk: 3

Company: FIFTH THIRD BANCORP
Filing Date: 2025-10-09
Form: 425
Chunk 3
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 actual performance measured through the latest practicable date prior to the
Effective Time and (y) adjusted based on the Exchange Ratio and (iv) each outstanding Comerica deferred stock unit award will vest and convert into a corresponding award with respect to Fifth Third Common Stock, with the numbers of
shares underlying such award adjusted based on the Exchange Ratio. Each such converted Fifth Third award will otherwise continue to be subject to the same terms and conditions as applied to the corresponding Comerica award (excluding any
performance-based vesting requirements) in effect immediately prior to the Effective Time.

The Merger Agreement also provides that, as of the Effective Time, the number of directors constituting the
Board of Directors of Fifth Third will be increased by three, and three directors of Comerica, determined by mutual agreement of Fifth Third and Comerica, will be appointed to the Board of Directors of Fifth Third.

The Merger Agreement contains customary representations and warranties of both Fifth Third and Comerica, and each party has agreed to customary covenants,
including, among others, covenants relating to (i) the conduct of its business during the interim period between the execution of the Merger Agreement and the Effective Time, (ii) its obligations to call a meeting of its shareholders to,
in the case of Fifth Third, approve the issuance of shares of Fifth Third Common Stock in the Merger pursuant to the terms and conditions set forth in the Merger Agreement (the “Requisite Fifth Third Vote”) and, in the case of Comerica,
adopt the Merger Agreement (the “Requisite Comerica Vote”), and, subject to certain exceptions, for the board of directors of each of Comerica and Fifth Third to recommend that its shareholders vote in favor of such approvals, and
(iii) its non-solicitation obligations relating to alternative acquisition proposals. Fifth Third and Comerica have also agreed to use their reasonable best efforts to obtain all necessary permits,
consents, approvals and authorizations for consummation of the transactions contemplated by the Merger Agreement.

The completion of the Merger is subject
to customary conditions, including (i) receipt of the Requisite Fifth Third Vote and the Requisite Comerica Vote, (ii) authorization for listing on the Nasdaq Stock Market of the shares of Fifth Third Common Stock and depositary shares in
respect of the New Fifth Third Preferred Stock to be issued in the Merger, subject to official notice of issuance, (iii) receipt of required regulatory approvals,