Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 50

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 50
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 their roles over the next several years.

During our fall shareholder outreach, we discussed the LSAs with several of our shareholders. This disclosure includes information that is responsive to the feedback received from shareholders during those discussions.

Award Rationale - Proactive CEO succession planning with the goal of stability and leadership continuity

The Compensation and HR Committee believes that ensuring a strong pool of internal candidates is in the best interest of long-term investors. The strength of our leadership team and their success in transforming our business have made our executives highly attractive in the market. Recent senior executive transitions in the financial sector and recent grants of special awards, including at peers KeyCorp, Truist, and PNC underscore the strength of the market for executive talent and the perceived benefit of protective measures.

Each of Mr. Woods, Mr. Coughlin, and Ms. Johnson has provided valuable leadership to the Company over the past several years. Although Ms. Johnson retired from the Company on March 3, 2025 and forfeited her LSAs, at the time the grants were made the Compensation and HR Committee believed that each executive would play a significant role in executing our strategic initiatives over the next several years. In particular, the Compensation and HR Committee noted that:

• Mr. Woods has been instrumental in the continued strategic evolution of the Company and has continued our disciplined focus on funding and liquidity, capital management, TOP programs, and BSO, each of which will be integral to our long-term success.

• Mr. Coughlin’s dynamic leadership in transforming our Consumer Bank, successfully launching the Private Bank, and accelerating our Wealth business will continue to be essential as we further strengthen the franchise and build fee income generation capabilities.

• At the time the grants were made, the Compensation and HR Committee believed that Ms. Johnson’s work developing digital and data-driven solutions across our business lines and ensuring the Citizens brand is effectively represented in the markets we serve would be crucial in expanding market share. Following Ms. Johnson’s departure, her duties relating to Enterprise Data & Analytics and Enterprise Marketing have been assumed by Mr. Coughlin; Ms. Johnson’s additional areas of responsibility have been assumed by other members of the executive team.

Additional information regarding the individual achievements for each of these executives can be found in “ –2024 Performance and NEO Compensation Decisions–2024 Compensation Decisions ”.

#### Award Amounts –

#### Market competitive
In determining the overall amount and form of each executive’s award, the Compensation and HR Committee and the Board sought to establish a value that was market competitive and recognized