Company: FCNCB
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001193125-25-056659
Chunk: 36

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 36
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 risk, including a compilation of results by control function for each such associate. These assessments are then aggregated at the Executive Leadership Team level for consideration by our leadership as part of our risk management processes. The goal of the assessments is to allow for consideration of risk-adjusted compensation outcomes and mitigate excessive risk taking by those associates. As part of our risk management of compensation, we maintain policies and other mechanisms to clawback executive compensation in the event of material miscalculations, including those resulting from accounting restatements, or significant violations of our Code of Ethics that result in financial or reputational impact to us. These include provisions of the LTIP and the MPP, as well as the LTIP award agreements, which provide that awards under the plans are subject to any clawback policies we implement. See “COMPENSATION DISCUSSION AND ANALYSIS —Incentive-Based Compensation Clawback Policies” for information on our clawback policies. Our executive officers participate in FCB’s LTIP and MPP, and certain business units and divisions within FCB have incentive, commission, and variable pay plans that have unique structures, goals, and reward levels in which other officers and associates participate. The Committee believes that, as currently administered, the LTIP and MPP are focused on performance goals that are aligned with our stockholders’ long-term interests, that none of those other plans provide for award levels that are over-weighted to a specific business unit or service, and that all current plans are structured in ways that the Committee believes protect our organization. Compensation Committee Report This report has been furnished by the CNG Committee, the members of which are named below, in the Committee’s capacity as the Boards’ joint compensation committee. The Committee has:

| ● |     | reviewed and discussed with management the Compensation Discussion and Analysis that is included in this proxy statement; and |

| ● |     | based on that review and discussion, recommended to our full Board that the Compensation Discussion and Analysis be included in our proxy statement and 2024 Annual Report. |

The Compensation, Nominations and Governance Committee:

| Robert T. Newcomb |     | Victor E. Bell III |     | H. Lee Durham, Jr. |     | David G. Leitch |     | Robert E. Mason IV |

| 2025 Annual Proxy Statement |     | 39 |

Compensation Discussion and Analysis COMPENSATION DISCUSSION AND ANALYSIS In this section, we describe the material components of our executive compensation program for the named executive officers in the Summary