Company: FCNCB
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001193125-25-056659
Chunk: 75

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 75
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 $33,056; Mr. Nix - $9,240; Mrs. Bryant - $12,875; and Mr. Bristow - $13,451. |

The pension plans, Section 401(k) plans and separation from service agreements are described below, and further information about them is provided in the discussion under the heading “COMPENSATION DISCUSSION AND ANALYSIS.” Pension Plans.FCB’s qualified defined benefit pension plans include its original plan and the plan previously provided by FCB-SCfor its associates which FCB continues to maintain and administer to provide pension benefits for FCB-SC’sformer officers and associates who are participants in that plan. FCB’s plans also include the qualified pension plan previously provided by CIT which FCB continues to maintain to provide pension benefits to CIT’s former officers and associates who are participants in that plan. None of our NEOs participate in the CIT pension plan, and Mrs. Rupp is not a participant in any of the pension plans. The terms of FCB’s and FCB-SC’splans are very similar. Each plan is a non-contributoryfinal average pay plan. Monthly retirement benefits under the pension plans are computed as straight life annuities beginning at age 65 and are not subject to deductions for Social Security benefits or any other offset amounts. Normal retirement age under the plans is the later of age 65 or completion of five years of service. Under FCB’s plan, early retirement is permitted for participants who have reached age 50 with at least 20 years of service, or age 55 with at least 15 years of service, while under FCB-SC’splan participants qualify for early retirement when they reach age 50 with at least 15 years of service, or age 55 with at least 10 years of service. As described under the heading “COMPENSATION DISCUSSION AND ANALYSIS,” participants in FCB’s and FCB-SC’spension plans include only those eligible associates who were hired on or before specified dates during 2007 when FCB and FCB-SCrestructured their respective pension plans and Section 401(k) plans. Participants in each of the pension plans on those dates could choose to continue to

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Executive Compensation participate in their respective pension plan and “legacy” Section 401(k) plan, or they could choose to participate in an “enhanced” Section 401(k) plan. If they chose the enhanced Section