Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 347

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 347
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 indexed to the Bancorp’s common stock. The following table presents a summary of the Bancorp’s accelerated share repurchase transactions that were entered into and settled during the years ended December 31, 2024 and 2023:Repurchase DateAmount  ($ in millions)Shares Repurchased on Repurchase DateShares Received from Forward Contract  SettlementTotal Shares RepurchasedFinal Settlement DateJanuary 24, 2023200 4,911,875 678,121 5,589,996 March 6, 2023June 12, 2024125 3,011,621 496,767 3,508,388 June 27, 2024July 23, 2024200 4,160,548 713,340 4,873,888 August 5, 2024October 22, 2024300 5,879,640 781,254 6,660,894 December 18, 2024The Bancorp increased the cost basis of shares repurchased during the years ended December 31, 2024 and 2023 by $5 million and $1 million, respectively, as a result of the excise tax on share repurchases.

For further information on a subsequent event related to treasury stock, refer to Note 32. 

182 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

25. Stock-Based Compensation

Stock-based awards are eligible for issuance under the Bancorp’s Incentive Compensation Plan to executives, directors and key employees of the Bancorp and its subsidiaries. The 2024 Incentive Compensation Plan was approved by shareholders on April 16, 2024 and authorized the issuance of up to 55 million shares as equity compensation. The plan authorizes the issuance of SARs, RSAs, RSUs, stock options, performance share or unit awards, dividend or dividend equivalent rights and stock awards. As of December 31, 2024, there were 54.5 million shares available for future issuance. Based on total stock-based awards outstanding (including SARs, RSUs, stock options and PSAs) and shares remaining for future grants under the 2024 Incentive Compensation Plan, the potential dilution to which the Bancorp’s common shareholders are exposed due to the potential that stock-based compensation will be awarded to executives, directors or key employees of the Bancorp and its subsidiaries is