Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 50

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 50
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|:----|:-----------------|:--|----------:|:----|:-----|:--|----------:|
| Salary                    |     |                  | $ |   740,000 |     |      | $ |   740,000 |
| STI Payout                |     |                  | $ |   750,000 |     |      | $ | 1,400,000 |
| NQ Stock Options          |     |                  | $ |   318,750 |     |      | $ |   235,000 |
| PHSUs(2)                  |     |                  | $ |   743,750 |     |      | $ |   940,000 |
| PVSUs(3)                  |     |                  | $ | 1,062,500 |     |      | $ | 1,175,000 |
| LTI Grant                 |     |                  | $ | 2,125,000 |     |      | $ | 2,350,000 |
| Total Direct Compensation |     |                  | $ | 3,615,000 |     |      | $ | 4,490,000 |

(1) Represents annualized salary and a pro-ratedSTI payment due to Mr. Bible’s mid-yearstart date. (2) Represents grant date fair value. Actual payout dependent upon achievement of performance hurdle. (3) Represents grant date fair value. Actual payout could range from 0%-150%of target depending on actual performance achieved.

| 57 |

Kevin J. Pearson - Vice Chairman Mr. Pearson has overall responsibility for M&T’s Mortgage, Consumer Lending and Dealer Services divisions, as well as our Wealth and Institutional Client Services divisions operating under the Wilmington Trust brand. For performance year 2024, the C&HC Committee considered the results of the portfolio of businesses he oversees and the following performance factors (among others discussed in this CD&A) in establishing his TDC:

| Company  Results  (“What”)    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Strong financial performance and long-term shareholder return   •  Net operating income(1) was $2.63 billion – the second highest level in our company’s history – only behind 2023, which was the highest ever earned at M&T and reflected an improved net interest margin in that year due largely to the rapid rise in interest rates   •  Diluted net operating earnings per common share