Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 18

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 18
---
 at least 3% of our common stock for at least three years to nominate up to the greater of two directors or 25% of the Board and have those nominees appear in our proxy statement, subject to notice and other specific requirements in our bylaws.   •  No Supermajority Vote Provisions: Our bylaws do not contain supermajority vote requirements.   •  Majority Voting for Directors: All director nominees in uncontested elections must be elected by an affirmative vote of the majority of votes cast.   •  Annual Elections: Each of our directors is elected for a one-year term expiring at the next annual meeting of shareholders and until their respective successors are elected and qualified or until the director’s earlier resignation or removal.   •  Stock Ownership Guidelines: By requiring our Chief Executive Officer to own stock equal to 6x his annual salary, other executive officers to own stock equal to 3x their annual salary, and directors to own stock equal to 5x their annual cash retainer, we aim to align their interests to those of our shareholders.   •  Mandatory Director Retirement Age: Under our bylaws and Corporate Governance Guidelines, directors must retire from service at the end of the calendar year in which they turn 75 years of age. |

Corporate Governance Guidelines Our Corporate Governance Guidelines provide the framework for fulfillment of the Board’s corporate governance duties and responsibilities, taking into consideration industry and other practices, recent developments, and applicable statutes, regulations, and other laws. The Corporate Governance Guidelines address a number of matters applicable to directors, including director qualification standards, director independence requirements, share ownership guidelines, Board responsibilities, Board development, role of the independent Lead Director, retirement, meetings of non-managementdirectors, and director compensation. DIRECTOR INDEPENDENCE Our Board of Directors is committed to maintaining objective, independent oversight of management. The value we place on the independence of our directors is reflected in our corporate governance documents, Board committee charters, annual independence review of our Board members, and the role of our Lead Director. In determining director independence, our Board considers the New York Stock Exchange’s (“NYSE”) independence criteria and the standards set forth in our Corporate Governance Guidelines. Consistent with NYSE rules, our Board of Directors broadly considers all relevant facts and circumstances that bear on the materiality of each director’s relationship with Truist, including the potential for conflicts of interest, when determining director independence. In making an independence determination, no