Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 11

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 11
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|:--|----:|:------|:----|:--|----:|:-----------|:----|:--|-----:|:----------|:------------|:----|:--|-----:|:---|
| Brendan Coughlin        |     | $ | 6.0 | MM    |     | $ | 4.0 | MM    |     | $ | 2.0 | MM         |     | $ | 12.0 | MM        |             |     | $ |  4.0 | MM |
| John F. Woods           |     | $ | 3.5 | MM    |     | $ | 2.5 | MM    |     | $ | 1.0 | MM         |     | $ |  7.0 | MM        |             |     | $ | 2.33 | MM |
| Elizabeth S. Johnson(2) |     | $ | 1.5 | MM    |     | $ | 1.5 | MM    |     |   |     | —          |     | $ |  3.0 | MM        |             |     | $ |  1.0 | MM |

(1) In evaluating the LSA values, we believe a relevant consideration is the “annual run rate” of awards over the equity award vesting period and cash restriction period , which is set forth here for additional perspective.

(2) Ms. Johnson's LSAs were forfeited upon her retirement from the Company.

Half of the total LSA value for each executive was granted in the form of performance stock units ("PSUs") with metrics aligned to the drivers of long-term returns and which further our strategic plan. A significant portion was also granted in the form of restricted stock units ("RSUs") (33%-50%) to encourage continuous service to the Company, and for Mr. Woods and Mr. Coughlin a small portion was awarded in the form of restricted cash (14%-17%) subject to repayment in full upon resignation within three years to provide some liquidity in light of their stock ownership requirements being increased to six times their base salary.

No Current Intention to Grant Additional Off-Cycle Awards

The Compensation and HR Committee is not a proponent of granting awards outside of the standard pay and performance cycle in the absence of compelling circumstances. In this case, the Compensation and HR Committee believed these awards were necessary to ensure continuity of leadership. Although there are no current