Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 55

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 55
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 calculated as a percentage of the NEO’s average salary over the three-year performance period. The grant date values listed above assume the target level of performance is achieved and there is no change in the NEO’s salary over the performance period. |

| (3) | Includes the one-time award of 164,492 RSUs (with a grant date fair value of $5,151,889) granted to Ms. Lesher in connection with her commencement of employment with the Company, which was not part of the 2024 annual pay program. The award is subject to three-year vesting in one-third increments on each of February 12, 2025, 2026, and 2027. |

2022–2024 PERFORMANCE AND PAYOUTS The PSU and LTIP awards granted in 2022 (pertaining to the 2022–2024 performance period) vested and settled in early 2025. For these awards, the Committee determined to stop measuring actual performance following the first quarter of 2024 as a result of the TIH sale and its expected impact on our capital structure (which was not anticipated at the time the awards were granted in 2022) and assume that a target level of performance was achieved over the remaining three calendar quarters of the 12-quarterperformance period. Accordingly, payouts for the 2022–2024 PSU and LTIP awards were as follows:

|                                   |     | Relative    
 ROATCE      
 Performance 
 and         
 Percentile  
 (50%        
 Weighting)  |     |                 |     | ROATCE       
 Payout (% of 
 Target)      |     |       |     | Relative    
 ROACE       
 Performance 
 and         
 Percentile  
 (50%        
 Weighting)  |     |                 |     | ROACE      
 Payout (%  
 of Target) |     |       |     | Calculated 
 Payout (%  
 of Target) |     |        |     | Actual     
 Payout (%  
 of Target) |     |        |
| Q1 2022 - Q1-2024 (75% Weighting) |     |             |     | 22.19% or the   
 98th percentile |     |              |     | 75.00 |     |             |     | 10.11% or the   
 31st percentile |     |            |     | 31.14 |     |            |     | 106.14 |     |            |     |  79.60