Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 5

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 5
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—Risk Committee. |

| (3) | Mr. Geisel serves as the non-executive Vice Chairman of the Board and as the lead independent director. |

| (4) | Mr. Jones serves as the Chairman of the Board. |

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Board Composition In discharging its duties to review director nominees, the Nomination and Governance Committee (the “N&G Committee”) considers the experience, skill set, independence and diversity of backgrounds of nominees in the full context of the current composition, needs, and obligations of the Board. A balanced Board composition, supplemented by a thoughtful approach to director refreshment, is a priority. The 14 director nominees represent a range of backgrounds, professions, skills, experiences and communities. The N&G Committee believes these complementary skills and experiences produce an effective and highly qualified Board. The N&G Committee also believes it is desirable to maintain a mix of experienced, longer-tenured directors who possess deep institutional knowledge along with newer directors who have different areas of expertise, backgrounds and perspectives. Information on the skills, tenure, independence, and gender and racial diversity of the Board, including a Board Skills Matrix, can be found in the Corporate Governance of M&T Bank Corporation section of this proxy statement. At the 2025 Annual Meeting, 50% of our 14 director nominees represent gender or racial diversity, including four women and three people of color. The director nominees range in age from 47 to 79, and the average age is approximately 67. Half of the director nominees have served on the Board for five years or less.

See “ Proposal 1—Election of Directors” and “ Corporate Governance of M&T Bank Corporation” further below for more information on our director nominees as well as Board qualifications, tenure, independence and diversity.

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| Corporate Governance Practices   The Board is committed to sound and effective corporate governance that conforms to the highest standards of business ethics and integrity, provides robust oversight of management and promotes the long-term interests of our shareholders. The Board reviews M&T’s Corporate Governance Standards annually. It regularly reviews other governance practices, industry developments and shareholder feedback to promote continued effectiveness. Below are selected highlights of M&T’s corporate governance practices. |

| Board Composition and Refreshment                                                                                                                                |     | Robust Shareholder Rights                                                                                           |
| ✓ Engaged Board with balanced tenure and substantial experience                                                                                                  |     | ✓ Bylaws include proxy access right                                                                                 |
| ✓ Strong Board refreshment practices, with half the