Company: FITBI
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-045653
Chunk: 42

Company: FIFTH THIRD BANCORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 42
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 against the goals, and the support this provided of achieving the stated objectives of sustainability, profitability, and growth. Examples of this include, NPA performance that improved in 2024 moving from seventh to sixth in the peer group, a loan to deposit ratio that remained on the low end of the target range through a changing interest rate environment, and continued progress on goals that support the Company’s customers, communities, and employees–including continued recognition for superior customer service results, which are highlighted on pages 4 and 10. With these considerations, a final funding level of 107% was approved by the committee. When making the final determination of individual awards using the approved funding pool, the Committee had the benefit of information relating to market median compensation levels as well as performance and risk assessment rating information. Additionally, each individual’s qualitative performance assessment (further described for each NEO in the qualitative performance assessments section below) and risk performance are considered. Based on these factors the Committee thought it appropriate to make individual decisions ranging from 105-115% of the NEO’s target in cash.

| 52 |

COMPENSATION DISCUSSION AND ANALYSIS 2024 Long-Term, Equity-based Incentive Compensation Plan Design. The long-term, equity-based incentive plan is an important piece of the compensation mix for our Named Executive Officers. The objectives of our plan, the types of equity-based awards employed under the plan, and areas included in individual performance assessments used to determine award amounts for Named Executive Officers are:

| Plan Objectives                                                                                                   |
| Align management and shareholders’ interests                                                                      |
| Motivate senior executives to optimize long-term shareholder value                                                |
| Encourage stock ownership among our employees                                                                     |
| Enhance the Company’s ability to retain key talent                                                                |
| Ensure the program design is consistent with our compensation philosophy and reflective of external market trends |
| Strengthen risk-adjusted pay decisions                                                                            |
| Areas of Assessment                                                                                               |
| The Company’s revenue and expense results                                                                         |
| Division revenue and expenses vs. budget                                                                          |
| Internal and external customer service levels                                                                     |
| Performance relative to the Company’s strategic initiatives                                                       |
| Results related to specific individual responsibilities                                                           |
| Results related to specific individual risk assessments                                                           |

| Equity Type Mix |

For the 2024 awards, Stock Appreciation Right Awards, or “SARs,” are calculated by taking 15% of the total LTI award amount divided by the SARs Black-Scholes value on the date of grant. Restricted Stock Unit Awards, or “RSUs