Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 70

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 70
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 shareholders to elicit their feedback on various topics, including executive compensation.                                                                                                                                                                                                                                                               
 Independent compensation consultant.  The Compensation and HR Committee engages an independent compensation consultant, who is not otherwise engaged by management.                                                                                                                                                                                                                                              |     | No single trigger vesting of equity awards or cash payments.  We do not provide for any single trigger vesting of equity awards or severance payments upon a change of control.  Vesting and payments require a subsequent termination without cause or resignation with good reason. 
 No tax gross-ups.  We do not offer tax gross-ups on executive benefits other than in connection with our relocation program, which provides a gross-up to all colleagues receiving this benefit.  In addition, we do not provide for excise tax gross-ups upon a change of control.   
 Prohibition against hedging and pledging.  We prohibit executive officers, colleagues, and directors from hedging or pledging Company securities.                                                                                                                                     
 Dividend equivalents not paid on unearned or unvested units.  Dividend equivalents are accrued but not paid until restricted stock units and performance stock units are earned and become vested.                                                                                    
 Our equity plan prohibits option repricing and liberal share recycling.  Our equity plan does not allow for repricing or buy-out of underwater options or liberal share recycling and generally imposes a minimum vesting period of 12 months for awards.                             |

#### 682025 Proxy Statement

#### Compensation Matters

#### Clawback and Forfeiture Process
The Company maintains a firm-wide process through which certain events (referred to as “Trigger Events”) are reviewed to determine whether they should have an impact on a colleague’s compensation from previous years or for the current year. This process applies to all of our colleagues, including our NEOs. The Accountability Review Panel (“ARP”) consists of the direct reports to our CEO, with our Chief Risk Officer serving as chair, and meets on a regular basis to consider whether specific Trigger Events should result in compensation adjustments for involved colleagues. Trigger Events include not only financial restatements, but also events having a material impact on the Company that have arisen as a result of certain colleague behavior, including failure to consider risk adequately. Potential actions by the ARP include current-year compensation adjustments, forfeiture of unvested awards, or clawback.

Effective December 1, 2023, the Company adopted the Citizens Financial Group, Inc. Clawback Policy (the "Clawback Policy"). Under the Clawback Policy, the Company is required to recover reasonably promptly the amount of erroneously awarded