Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 48

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 48
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 in-depth discussions with shareholders that voted both in favor of and against our say-on-pay proposal. Nearly all of these conversations were led by Edward J. Kelly III, our Lead Director and Chair of our Compensation and HR Committee, and were joined by Susan LaMonica, our Chief Human Resources Officer, as well as representatives from our Legal, Reward, Investor Relations, and Sustainability teams. We also met with proxy advisory firms Institutional Shareholder Services and Glass Lewis to gain their perspectives. Discussions focused largely on executive compensation, leadership succession planning, sustainability, and board governance matters.

| Outreach                                                              |     | Meetings Held                                     |     | Lead Director Engagement             |
| >80%                                                                  |     | >58%                                              |     | 85%                                  |
| of outstanding shares (>55 institutional investors) invited to engage |     | of outstanding shares engaged through 26 meetings |     | of meetings led by our Lead Director |

#### 482025 Proxy Statement

#### Compensation Matters
During these meetings, we heard that while shareholders feel the amount of executive compensation has been appropriately and consistently aligned with Company performance, there are certain elements of our program and related disclosure that some shareholders would like to see further evolve. In response to this feedback, during 2024 we made several changes to our compensation program structure and the compensation disclosure in this proxy statement.

|                                                                                                                                            |     | What We Heard                                                                                                                                                                                                                                                                          |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                   |     | What We Did |
| Shareholders requested thatadditional structure and limitationsbe incorporated into the framework used to determine executive compensation 
 See pages54,61-66                                                                                                                          |     |                                                                                                                                                                                                                                                                                        |     | Incorporated weightings on Company performance elements and maximum achievement levels                                                                                                                                                                                                                                                                                                                                                            
 Beginning in 2024, in determining NEO variable compensation amounts, the Compensation and HR Committee determines a corporate performance factor. The corporate performance factor applies to each NEO and is based on financial performance (weighted 60%) and business execution, comprised of strategic priorities, delivering for stakeholders, and risk and control (weighted at 40%), each with a possible achievement level of 0% to 150%. |     |             |
|                                                                                                                                            |     | Implemented parameters relating to adjustments                                                                                                                                                                                                                                         
 Once the corporate performance factor is determined, the Compensation and HR Committee assesses each NEO based on individual performance and other relevant factors, which may adjust variable compensation +/-20%.                                                                    |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                   |     |             |
|                                                                                                                                            |     | Adopted target compensation amounts for all NEOs