Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 93

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 93
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 detail in the CD&A, the Company’s executive-compensation program reflects a pay-for-performanceculture at Truist that is rooted in our Purpose, Mission, and Values. The metrics that the Company uses for both our long-term and short-term incentive awards are selected based on an objective of incentivizing our NEOs to increase the value of our enterprise for our shareholders. The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to the Company’s performance are as follows:

| • | EPS; |

| • | PPNR; |

| • | NIE; |

| • | TBVPS Plus Dividend Growth; |

| • | CET1 Capital Ratio; and |

| • | One-YearTSR. |

EPS, PPNR, and NIE as discussed in this pay versus performance(“PvP”) section are non-GAAPfinancial measures that include adjustments to the corresponding GAAP amounts approved by the Compensation and Human Capital Committee. As such, the terms “EPS,” “PPNR,” and “NIE” used in this PvP section refer to these as-adjustedvalues. Accordingly, the as-adjustedEPS, PPNR, and NIE values used for compensation purposes may differ from those identified in the Key Financial and Operational Accomplishments in 2024 in “Section 2—Business and Performance” of the CD&A or the Company’s financial reporting disclosures. For additional detail regarding these adjustments and the calculation of EPS, PPNR, and NIE for 2024 and 2023, please refer to Annex A. TBVPS is a non-GAAP financial measure that excludes the impact of intangible assets, net of deferred taxes. Please refer to Annex Afor the calculation of TBVPS for 2024 and 2023. Analysis of the Information Presented in the Pay Versus Performance Table As described in more detail in the CD&A, the Company’s executive-compensation program reflects a pay-for-performancephilosophy. While the Company utilizes several performance measures to align executive compensation with Company performance, all of those Company measures are not presented in the PvP table set forth above. Moreover, the Company generally seeks to incentivize long-term performance, and therefore does not specifically align the Company’s performance measures with compensation that is actually paid (as computed in accordance with Item 402(v) of Regulation S-K)for a particular year. In accordance with Item 402(v) of Regulation