Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 17

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 17
---
, and perform the duties set forth in its written charter and such other duties as are required by applicable laws or Securities and Exchange Commission (“SEC”) rules. The Audit Committee also oversees the appointment and compensation of M&T’s Chief Auditor. In addition, the Audit Committee serves as the Examining Committee for M&T Bank and Wilmington Trust, N.A. The current members of the Audit Committee are Messrs. Cruger, Cunningham, Salamone (Chair) and Washington and Ms. Chwick. Ms. Chwick was appointed to the Audit Committee in April 2024, joining existing members Messrs. Cruger, Cunningham, Salamone and Washington who served throughout 2024. The Audit Committee held 14 meetings in 2024, including two joint meetings with the Risk Committee.

| 24 |

The Audit Committee is comprised solely of independent directors who the Board has determined have the requisite financial literacy to serve on the Audit Committee. The Board determined that no member of the Audit Committee has any material relationship with M&T that might interfere with the exercise of the member’s independent judgment and that each member meets the standards of independence established by the SEC and the NYSE. In addition, the Board has determined that at least one member of the Audit Committee meets the NYSE standard of having “accounting or related financial management expertise.” The Board, based upon the recommendation of the N&G Committee, after reviewing all relevant facts and circumstances, has determined that Mr. Cruger and Mr. Salamone each is an “audit committee financial expert” under SEC rules. The Audit Committee is governed by a written charter approved by the Board. The Audit Committee Charter is available on M&T’s website at ir.mtb.com/corporate-governance. Compensation and Human Capital (C&HC) Committee The C&HC Committee, in accordance with its charter, is responsible for discharging the responsibilities of the Board relating to the compensation of M&T’s executive officers as well as administering M&T’s equity compensation plans and awarding grants thereunder. The C&HC Committee is also responsible for oversight of M&T’s human capital and talent management strategies, including executive management succession planning. The C&HC Committee recommends to the Board the compensation of directors and reviews and approves the compensation and benefits of executive officers of M&T. The C&HC Committee is also responsible for reviewing with management the Compensation Discussion and Analysis (“CD&A”) and providing a report recommending to the Board whether such CD&A should be included in the proxy statement. The current members