Company: FCNCB
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001193125-25-056659
Chunk: 119

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 119
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ENSATION .” As discussed in those sections, our Boards and CNG Committee attempt to align our executive officers’ compensation with our long-term business philosophy and to achieve our objectives of:

| ● |     | rewarding sustained long-term performance and long-term loyalty; |

| ● |     | balancing business risk with sound financial policy and stockholders’ interests, and aligning the interests of our executive officers with the long-term interests of our stockholders by encouraging growth in the value of our company and our stockholders’ investments; |

| ● |     | enabling us to attract, motivate, and retain qualified executive officers; and |

| ● |     | providing compensation to our executive officers that is competitive with comparable financial services companies. |

Consistent with that philosophy, our 2024 executive compensation program was primarily composed of the following elements:

| ● |     | competitive base salaries; |

| ● |     | performance-based LTIP awards payable in cash which may be earned based on the extent of growth in the tangible book value per share of our common stock plus cumulative dividends paid on the stock during stated three-year Performance Periods; |

| ● |     | performance-based MPP awards payable in cash which could be earned based on the successful completion of performance objectives, including integration and conversion milestones, cost savings and synergies, and risk management, as well as individual performance, relating to mergers and acquisitions; |

| ● |     | retirement benefits in the form of defined benefit pension plans (for officers hired on or before specified dates), matching contributions to FCB’s Section 401(k) Plan defined contribution plan accounts, and additional profit-sharing contributions to FCB 401(k) Plan accounts of executives who are not pension plan participants or who previously made elections regarding their Section 401(k) Plan participation that resulted in their person plan benefit accruals being frozen; |

| 82 |     | 2025 Annual Proxy Statement |

Proposal 2: Advisory Vote on Executive Compensation

| ● |     | individual nonqualified separation from service agreements with certain of our executive officers; |

| ● |     | nonqualified deferred compensation plans, and the deemed investment returns accrued to the accounts of participants in the FCB 2021 Plan and interest accrued to the accounts of participants in the FCB-SC Plans; and |

| ● |     | limited personal benefits (or “perquisites”) for certain of our executive officers. |

We do not have employment agreements with any of our current NEOs, nor have we provided them with any equity-based