Company: FCNCB
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001193125-25-056659
Chunk: 110

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 110
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 pledged shares, including in relation to: |

| Ø |     | the total number of outstanding shares of our common stock; |

| Ø |     | the total number of shares held by the director or executive officer; and |

| Ø |     | the director’s or executive officer’s total assets; |

| ● |     | the market value, volatility, and trading volume of our common stock; |

| ● |     | the financial capacity of the borrower to repay the loan without resort to the pledged stock; |

| ● |     | the loan-to-value ratio in the proposed pledge arrangement; |

| ● |     | the nature of any other collateral in the proposed pledge arrangement; |

| 78 |     | 2025 Annual Proxy Statement |

Beneficial Ownership of Our Equity Securities

| ● |     | the material terms of the proposed pledge arrangement; and |

| ● |     | the procedural safeguards to foreclosure, such as notice periods and the ability to substitute collateral. |

The policy requires a director or executive officer requesting an exception to submit the request in writing, with information addressing the factors listed above, and to supply any supporting documentation the Audit Committee requests. A request for an exception must be submitted with sufficient advance notice to enable the Committee to fully consider the request. No exceptions have been requested or approved by the Committee since the policy was first adopted. No Pledging of Equity Compensation Shares.Our pledging policy prohibits the Audit Committee from approving an exception for a pledge of shares granted to a director or executive officer as compensation. In the past we have had no equity-based compensation plans under which directors or executive officers receive compensation in the form of shares of our common stock, but the prohibition would apply to any future grants. The policy also will apply to shares of our stock issued to Ellen R. Alemany, who currently serves as a director, upon the vesting of stock awards originally granted to her by CIT which we assumed and converted into RSUs covering shares of our Class A Common in connection with the CIT Merger. Monitoring of Pledging Arrangements.The policy provides that the Audit Committee will review all outstanding pledging arrangements annually (or more frequently where circumstances warrant). As of the Record Date, the only outstanding pledging arrangements are the grandfathered pledges listed in the table below. If the Audit Committee determines, based on any new facts or changed circumstances, that the continuation of any pledge arrangement established through an exception to the policy (which does not include the grandfathered pledges) is reasonably likely to pose a material risk