Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 35

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 35
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 be “nonoperating” in nature. See Appendix A to this proxy statement as well as “Supplemental Reporting ofNon-GAAPResults of Operations” in M&T’s Annual Report on Form10-Kfor the year ended December 31, 2024, filed with the SEC on February 19, 2025 (“M&T’s 2024 Form10-K”)for a reconciliation of GAAP measures with correspondingnon-GAAPmeasures.(2)For more information, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in M&T’s 2024 Form 10-K.(3)Includes share repurchase excise tax.38
M&T’s Executive Compensation Philosophy and Objectives The objectives of M&T’s executive compensation programs are to attract and retain executives capable of maximizing performance for the benefit of M&T and its shareholders. We endeavor, over time and based on performance, to establish total direct compensation (“TDC”) in a competitive range around the median of the market for our compensation peer group. Our longstanding compensation philosophy is to emphasize long- term equity-based compensation for our NEOs. This philosophy, combined with C&HC Committee engagement and oversight, allows us to align our compensation with performance by:

| • |     | linking the size of individual equity awards to the NEO’s role, responsibilities and prior and anticipated future contributions, as well as to the performance of M&T; |

| • |     | tying a significant portion of the NEOs’ ultimate realized compensation to future performance and the value of M&T common stock, in alignment with our shareholders; |

| • |     | balancing growth with prudent risk taking, through the use of equity compensation with robust forfeiture provisions; |

| • |     | creating a culture of stock ownership and retention, including through M&T’s Stock Ownership and Retention Guidelines for Executives; |

| • |     | performing, for each NEO, an annual assessment of the “market price of the seat” and balancing external data with an executive’s experience, role, responsibilities, and prior and anticipated future contributions; and |

| • |     | assessing short-term performance and awarding variable compensation based on a balanced discretionary assessment of holistic bank and individual performance. |

We design our executive compensation program to promote risk mitigation and good governance, which includes maintaining the following best practices:

| What We Do:                                                                                          |     | What We Don’t Do: |     |                                                                                                              |
| ✓ Strong alignment between pay and performance                                                       |     |                   |