Company: FITBI
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-045653
Chunk: 32

Company: FIFTH THIRD BANCORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 32
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 We plan to accomplish this by establishing compensation programs that reward our people for delivering the right products to the right customers, in ways that consider our shareholders’ long-term interests and align with Fifth Third’s values, while also staying within our risk tolerance. Our compensation philosophy guides us in this endeavor. Our compensation is delivered through three primary elements:

| Base Salary |     | + |     | Annual Cash Incentive     (Variable Compensation Plan) |     | + |     | Long-Term Incentives     (Equity-based Compensation) |

The Company typically pays base salary and annual incentive compensation awards through our variable compensation plan (“Variable Compensation Plan” or “VCP”), in cash. All long-term, equity-based incentive compensation awards are settled in shares of the Company’s common stock, but accrue dividend equivalents in cash, which are paid upon vest and distribution of the underlying award. These three elements combined define our “Total Direct Compensation,” which is referred to in the discussion that follows. When making pay decisions, the Human Capital and Compensation Committee (the “Committee”) considers the aggregate and mix of an executive officer’s Total Direct Compensation and reviews Company performance results, individual performance, and risk assessment information to ensure that pay decisions align with performance and ultimately shareholders’ interests. Highlights of 2024 Company Performance In 2024, the Company delivered strong financial results in an evolving environment, highlighting our performance through the cycle. For detailed highlights of 2024 Company performance, please see page 4.

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COMPENSATION DISCUSSION AND ANALYSIS Compensation Methodology and Structure Compensation Philosophy. Our compensation methodology centers on our compensation philosophy, which is comprised of the following key tenets:

| Develop and apply compensation programs for our employees in compliance with the law.                                                     |
| Provide competitive compensation opportunities in order to attract and retain talent that will drive our business strategy.               |
| Effectively manage risk within incentive programs designed to pay for performance.                                                        |
| Align compensation with long-term shareholder value creation.                                                                             |
| Provide strong oversight of executive pay.                                                                                                |
| Conduct recurring processes that balance risk with strategic and fiscal soundness.                                                        |
| Consider applicable regulatory expectations as well as our corporate values and behavioral expectations, when making compensation awards. |

Our Commitment to this Philosophy. The Company is committed to making compensation decisions that are fiscally responsible, while remaining competitive to attract and retain talent. Our expected total compensation opportunities generally reflect the median pay levels of