Company: FITBI
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-045653
Chunk: 35

Company: FIFTH THIRD BANCORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 35
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. Cook’s services. Benchmarking Methodology. In making compensation decisions, the Committee compares Company performance and each element of each executive officer’s Total Direct Compensation with the Compensation Peer Group. The Committee refers to this Compensation Peer Group for both compensation and performance-related benchmarks. Financial performance data is prepared by either the Committee’s independent compensation consultant or by the Company, using data from public filings. Compensation data is generally prepared by the Committee’s compensation consultant, using third-party survey data as provided by management and publicly available data from proxy statements. The Committee’s compensation consultant reviews all financial and compensation data that is prepared by the Company and provided to the Committee. The Compensation Peer Group consists of companies with which the Committee believes the Company competes for talent and for shareholder investment, and which are generally similar in asset size and business mix. The following 12 companies were identified by the Committee as our Compensation Peer Group for 2024 (“Compensation Peer Group”):

| Citizens Financial Group, Inc.     |     | M&T Bank Corporation                   |
| Comerica Incorporated              |     | The PNC Financial Services Group, Inc. |
| First Horizon National Corporation |     | Regions Financial Corporation          |
| First Citizens Bancshares, Inc.    |     | Truist Financial Corporation           |
| Huntington Bancshares Incorporated |     | U.S. Bancorp                           |
| KeyCorp                            |     | Zions Bancorporation                   |

| 46 |

COMPENSATION DISCUSSION AND ANALYSIS The Committee annually reviews the Compensation Peer Group and considers changes to the Compensation Peer Group deemed necessary to ensure that the business structure and size of the organizations continue to be appropriate. Based on the Committee’s evaluation of the Compensation Peer Group, no changes were recommended to the Compensation Peer Group for 2024. Tally Sheet. The Company annually prepares a tally sheet of all compensation and potential payouts for the Committee’s use to review our compensation programs. The Committee reviews all components of compensation for the Company’s chief executive officer, chief financial officer, and the other NEOs, including:

| Base salary                                                                                                 |
| Annual cash incentive targets                                                                               |
| Long-term, equity-based incentive targets                                                                   |
| Accumulated, realized, and unrealized equity award gains                                                    |
| The dollar value to the executive and cost to the Company of all perquisites and other personal benefits    |
| The earnings and accumulated payout obligations under the Company’s nonqualified deferred compensation plan |
| Several potential termination scenarios, including change-in-control, where applicable                      |

The Committee reviewed the above compensation