Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 72

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 72
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 Ms. Lesher (4.6%), Mr. Cummins (10.0%), and Mr. Wilson (7.8%). |

| (2) | The amounts in the “Stock Awards” column with respect to all NEOs reflect the grant date fair value of the PSUs and RSUs awarded during the year shown calculated in accordance with FASB ASC Topic 718. In 2024, annual PSUs and RSUs were granted to the NEOs on February 26, 2024. In addition, a one-time award of RSUs was granted to Ms. Lesher on March 1, 2024 in connection with her commencement of employment with Truist, and on September 3, 2024, one-time Leadership Awards of PSUs were granted to Messrs. Maguire and Wilson. For 2024, PSUs were valued using a Monte Carlo simulation assuming a probable payout as of the grant date of target performance and estimating the fair value associated with a probable payout at target ($29.72 for February 26, 2024 grants and $40.28 for September 3, 2024 grants) consistent with the approach for FASB ASC Topic 718 expensing. The February 26, 2024 RSUs were valued using the grant price of $34.53 less the present value of future dividends of $5.79, or $28.74, and the March 1, 2024 RSUs were valued using the grant price of $35.26 less the present value of future dividends of $3.94, or $31.32, consistent with the approach for FASB ASC Topic 718 expensing. At the maximum level of performance, the value of PSUs awarded in 2024 would be: $5,282,938 for Mr. Rogers, $6,497,366 for Mr. Maguire, $2,624,009 for Ms. Lesher, $2,551,076 for Mr. Cummins, and $7,011,878 for Mr. Wilson. As discussed in the Compensation Discussion and Analysis, the outstanding PSUs and RSUs remain subject to vesting criteria and accordingly, the NEO may never receive any value from such awards. The assumptions used in the calculation of these amounts for awards granted in 2024 are included in Note 15 “Benefit Plans” in the “Notes to Consolidated Financial Statements” included within Truist’s Annual Report on Form 10-K for