Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 47

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 47
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|                               | Continued Strengthening of Risk Management Capabilities   •  Continued focus on credit portfolio mix and enhancing our credit delivery model; meaningfully reduced the level of criticized commercial and industrial and commercial real estate loans, and commercial real estate loan concentration in 2024   •  Company continues to operate within its established risk appetite parameters, which was updated and affirmed by the Risk Committee of the Board   •  Continued to enhance system resiliency and mature cybersecurity capabilities |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

| (1) | See “Supplemental Reporting of Non-GAAP Results of Operations” in M&T’s 2024 Form 10-K for a reconciliation of GAAP measures to corresponding non-GAAP measures. |

| 54 |

René F. Jones - Chairman and Chief Executive Officer (continued)

|                           |     | Performance Year 
 2023             |   |           |     | 2024 |   |            |
|:--------------------------|:----|:-----------------|:--|----------:|:----|:-----|:--|-----------:|
| Salary                    |     |                  | $ | 1,100,000 |     |      | $ |  1,100,000 |
| STI Payout                |     |                  | $ | 2,150,000 |     |      | $ |  3,000,000 |
| NQ Stock Options          |     |                  | $ |   900,000 |     |      | $ |    740,000 |
| PHSUs(1)                  |     |                  | $ | 2,100,000 |     |      | $ |  2,960,000 |
| PVSUs(2)                  |     |                  | $ | 3,000,000 |     |      | $ |  3,700,000 |
| LTI Grant                 |     |                  | $ | 6,000,000 |     |      | $ |  7,400,000 |
| Total Direct Compensation |     |                  | $ | 9,250,000 |     |      | $ | 11,500,000 |

(1) Represents grant date fair value. Actual payout dependent on achievement of performance hurdle. (2) Represents grant date fair value.