Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 63

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 63
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 appropriateness of the job match, an executive’s responsibilities, experience, and tenure in role, internal equity conside rations, and succession planning considerations. Compensation targets in place for each NEO for the 2024 performance year can be found earlier in " —Executive Compensation Overview—NEO 2024 Performance Year Compensation".

#### Evaluating Performance
Executive compensation is determined by the Compensation and HR Committee following a comprehensive evaluation of performance from a variety of perspectives – financial performance as well as other aspects of business execution, including strategic priorities, delivering for stakeholders (customers, colleagues, community), and risk and control. Performance is monitored by the Compensation and HR Committee throughout the year, with an in-depth review of Company and individual performance occurring at year-end. At year-end, our Chief Risk Officer also conducts an independent risk evaluation of the NEOs and assigns a risk rating for each executive (which is in addition to overall performance ratings), the results of which are considered by the Compensation and HR Committee in evaluating performance and determining pay.

Following discussions with shareholders, changes were made during 2024 to incorporate additional structure into our framework for evaluating performance and determining pay. The graphic below summarizes our recently revised framework for evaluating performance, which the Compensation and HR Committee believes illustrates how seriously it takes shareholder feedback.

The Compensation and HR Committee determines a corporate performance factor for the relevant year. The corporate performance factor is comprised of financial performance (weighted 60%) and business execution, encompassing strategic priorities, delivering for stakeholders, and risk and control (weighted 40%), each with a possible achievement level of 0% to 150%. The corporate performance factor applies to each NEO. Then, the Compensation and HR Committee performs an assessment for each NEO based on individual performance and other relevant factors, which may result in adjustments to variable compensation +/-20% from the corporate performance factor percentage.

| Corporate Performance Factor 
 (0% - 150%)                  |     |                    |     | = |
| Compensation &               
 HR Committee                 
 Assessment                   
 (+/-20%)                     |     | Variable Pay       
 Decision           
 (as a % of Target) |     |   |
| Financial                    
 (60%)                        |     | Business           
 Execution          
 (40%)              |     |   |

#### Citizens Financial Group61

#### Compensation Matters

#### 2024 Performance and NEO Compensation Decisions

#### Company Performance
Evaluating Company performance is the first step in determining executive compensation. During meetings held in December 2024 and January 2025, the Compensation and HR Committee reviewed the