Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 56

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 56
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 |
| Q2 2024 - Q4 2024                 
 (25% Weighting)                   |     |             |     | –               |     |              |     |     – |     |             |     | –               |     |            |     |     – |     |            |     | 100.00 |     |            |     |  25.00 |
| Total                             |     |             |     |                 |     |              |     |       |     |             |     |                 |     |            |     |       |     |            |     |        |     |            |     | 104.60 |

| 54 |     | | 2025 Proxy Statement |

Compensation Discussion and Analysis 2025-2027 PROGRAM For 2025, the Committee determined to grant PSU and LTIP awards that vest 50% based on three-year cumulative absolute EPS, 25% based on the average of absolute ROATCE over three years, and 25% based on three-year TSR relative to Truist’s peer group. EPS and ROATCE will be calculated based on GAAP net income available to common shareholders, adjusted for the impact of significant unusual items and substituting net charge-offs for any provision benefit or expense. The Committee selected these performance measures due to their alignment with shareholder return. EPS is correlated with TSR and is used as a primary financial income statement metric for banks and public companies. ROATCE is also correlated with TSR and aligns with Truist’s publicly stated medium-term goal to improve ROATCE to the mid-teens.The Committee changed TSR from a modifier to a metric to directly measure shareholder value in determining the payout. In addition, consistent with previous PSU and LTIP awards, Truist must maintain a CET1 capital ratio above the minimum capital requirement, including the stress capital buffer, as of the last day of the performance period in order for the awards to pay out. One-TimePerformance-Based Leadership Awards On August 26, 2024, the Committee approved the grant of one-time leadership awards (“Leadership Awards”) with a grant date of September 3, 2024 to support the retention of key leaders who are critical to taking full advantage of the business opportunities created by the TIH sale. With respect to performance, the Leadership Awards are designed to drive the strategic plan and shareholder value creation while incentivizing maintenance of appropriate capital levels and appropriate risk management. The Committee chose to make the awards in the form of