Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 71

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 71
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 incentive-based compensation in the event that the Company is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under securities laws. The Clawback Policy is in addition to the ARP process described above, pursuant to which a broader set of consequences may be imposed under a broader set of circumstances.

Executive and DirectorStock Ownership and Retention Guidelines

The Company maintains stock ownership and retention guidelines in order to align further the long-term interests of our executives and directors with those of our shareholders. Our stock ownership guidelines require that our executives and non-employee directors hold shares having an aggregate value equal to a multiple of annual base salary or cash retainer, as applicable, as reflected below. In June 2024, the stock ownership requirement applicable to Mr. Woods and Mr. Coughlin was increased to six times base salary, consistent with the requirement applicable to Mr. Van Saun.

| Position                                                                   |     | Multiple of Salary |
| Chief Executive Officer, Chief Financial Officer, Head of Consumer Banking |     | 6x salary          |
| Other Executive Committee Members                                          |     | 3x salary          |
| Other Section 16 Officers                                                  |     | 1x salary          |
| Non-Employee Directors                                                     |     | 5x cash retainer   |

Shares that count for purposes of the ownership guidelines include: (i) shares owned directly (including shares purchased on the open market, shares obtained through option exercises or the vesting or settlement of restricted stock, RSUs, or PSUs (as applicable), or shares otherwise owned directly or held through a broker in individual brokerage accounts); (ii) shares owned indirectly through a trust of which the executive or director is a beneficial owner and shares held in a trust for an immediate family member, provided the executive or director retains investment control; (iii) shares or awards for which receipt has been deferred (including shares held through a 401(k) plan maintained by the Company, shares purchased under the employee stock purchase plan, unvested RSUs and any shares or units held through a deferred compensation plan maintained by the Company); and (iv) restricted stock and unvested RSUs that may only be settled in shares and that are subject to time-based vesting conditions only. Unexercised options (whether vested or unvested), performance awards (including performance-based restricted stock and performance-based units), and unvested RSUs that may only be settled in cash would not count towards the satisfaction of these guidelines.

Execut