Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 45

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 45
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%                             |        | N/A                                           |                 | 0%           |           |

| (1) | See Appendix A for a description of how ROTCE is calculated. |

| (2) | For performance between the 25th and 75th percentiles, payout will be determined based on interpolation. |

| 52 |

|                                     |                                                                                           | PVSU Performance Metric 2                                                  |                  | Absolute  ROTA |                               | Payout |                                               | Relative  ROTA |              | Payout(2) |
| Metric 2:  ROTA(1)    50% weighting |                                                                                           | Above Absolute Maximum – payout is 150% regardless of relative performance |                  | ≥1.25%         |                               | 150%   |                                               | N/A            |              | 150%      |
|                                     | Performance between these two Absolute ROTA levels is assessed relative to the peer group |                                                                            | 0.35% to < 1.25% |                | Payout by relative ROTA Scale |        | >75th %’ile 50th %’ile 25th %’ile <25th %’ile |                | 150%         
 100% 75% 50% |           |
|                                     | Below Absolute Threshold – payout is zero, regardless of relative performance             |                                                                            | < 0.35%          |                | 0%                            |        | N/A                                           |                | 0%           |           |

| (1) | See Appendix A for a description of how ROTA is calculated. |

| (2) | For performance between the 25th and 75th percentiles, payout will be determined based on interpolation. |

Equity Grant Practices.As noted above, the C&HC Committee grants equity-based awards to our executive officers in the form of PHSUs, PVSUs and non-qualifiedstock options. All grants are made subject to M&T’s Administrative Policy for Equity Award Grants (the “Grant Policy”). Under the Grant Policy, annual on-cycle equity awards are granted at the same time each year as part of our annual pay-for-performancecycle in the first quarter of the year. Off-cycleequity awards are granted at month-end,as required by the Grant Policy. Under the Grant Policy, the C&HC Committee avoids granting equity awards during periods in which there is undisclosed material non-publicinformation about M&T or during blackout periods as defined in