Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 59

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 59
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 and Commercial businesses, in line with regulatory and shareholder expectations. The table below reflects the elements of our variable compensation program (PSUs, RSUs, and cash bonuses) and the key design features of each element.

| CEO, CFO, Heads of Businesses |

| Other Executive Committee Members(1) |

(1) Related to her retirement, Ms. Johnson received a different variable pay mix for 2024 that provided for additional RSUs in lieu of PSUs.

| Element                 |     | Key Design Features                                                                                                              |
| Performance Stock Units |     | Vesting Date:  Third anniversary of grant                                                                                        
 Performance Period:  3 years                                                                                                     
 Core Performance Metrics:                                                                                                        
 •Cumulative Diluted Earnings Per Share (50%)                                                                                     
 •Return on Average Tangible Common Equity (50%)                                                                                  
 Modifier Metric:  Awards include a +/- 20% TSR modifier in addition to the core metrics                                          
 Payout Range:  0%-150% of target; modifier cannot increase payouts over 150% of target                                           |
| Restricted              
 Stock Units             |     | Vesting:  3-year annual pro-rata                                                                                                 |
| Cash Bonus              |     | Paid annually, with executives having the option to defer up to 80% under the Company’s nonqualified deferred compensation plan. |

#### Performance Stock Units

#### Award Design
The Compensation and HR Committee reviews PSU design annually in consultation with its compensation consultant. For PSUs granted in March 2024 (for the 2023 performance year) and 2025 (for the 2024 performance year), the Compensation and HR Committee determined that EPS and ROTCE continued to be appropriate core metrics for the Company’s PSU awards because they remain an integral element of the Company’s strategic plan. In addition, PSUs have a +/- 20% TSR modifier, with the payout percentage calculated based on the core metrics multiplied by 120% if our TSR during the performance period is in the top quartile of our peer group or by 80% if our TSR is in the bottom quartile of our peer group, subject to a maximum payout of 150% of target (including application of the modifier). Information regarding our peer group is discussed below in “—Compensation Governance—Peer Group”.

#### 582025 Proxy Statement

#### Compensation Matters
• EPS : EPS is defined as underlying diluted earnings per share and is a common metric used by investors to evaluate the profitability of a company and shows the earnings (net income) we make on each