Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 56

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 56
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 officers should own a significant amount of M&T common stock measured as a multiple of base salary as follows:

|                                      |     | $                         |    |
| Role                                 |     | Ownership Guideline       
 (Multiple of Base Salary) |    |
| Chairman and Chief Executive Officer |     |                           | 6x |
| Other NEOs                           |     |                           | 3x |
| Other executive officers             |     |                           | 2x |

The Stock Ownership Guidelines provide that executive officers should achieve the targeted stock ownership levels within five years of first becoming subject to the Stock Ownership Guidelines. Once the ownership threshold is met, executives are expected to maintain the required ownership amount as long as they are subject to the Stock Ownership Guidelines. Shares counted towards the Stock Ownership Guidelines include any shares held by the executive directly or through a broker, shares held through employee benefit plans, and shares held as restricted stock units or restricted stock awards, whether vested or unvested. Unvested PVSUs and unexercised stock options do not count as shares held by the executive for purposes of the guidelines. If an executive officer fails to meet the requirement, the individual is expected to hold 50% of all shares acquired from the settlement of equity awards, net of shares withheld for taxes or payment of exercise price, if applicable, until the executive meets the ownership threshold. Pursuant to the Stock Ownership Guidelines, the C&HC Committee reviews compliance with the Stock Ownership Guidelines on an annual basis. As of February 14, 2025, all executive officers are in compliance with the Stock Ownership Guidelines.

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Members of the Board are also expected to own M&T common stock with a value equal to five times their annual cash retainer and are expected to meet this ownership guideline by the fifth anniversary of his or her initial election to the Board. Directors who receive no personal compensation for their service are not subject to this guideline. As of February 14, 2025, all directors are in compliance with the director stock ownership guidelines. Anti-Hedging and Anti-Pledging Policies.M&T’s Insider Trading Policy prohibits all employees from engaging in any hedging transactions or any form of short-term trading with respect to M&T securities. The Insider Trading Policy also prohibits executive officers from pledging M&T securities, except in limited circumstances. None of our NEOs pledged any M&T securities in 2024. For more information regarding the anti-hedging and anti-pledging policies, see “ M&T Bank Corporation Insider Trading Policy