Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 80

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 80
---
 under the formula for participants already existing prior to January 1, 2024, in essence, moving full retirement benefits to 67 years of age. Non-QualifiedDefined Benefit Plan.The Non-QualifiedDefined Benefit Plan is an excess benefit plan designed to provide supplemental pension benefits for certain highly compensated teammates, including the NEOs, to the extent that their benefits under the Pension Plan are curtailed due to IRS compensation and benefit limitations. Benefits under the Non-QualifiedDefined Benefit Plan are included in the table above. Retirement.Messrs. Rogers and Cummins have met the requirements for retirement under the Pension Plan and the Non-QualifiedDefined Benefit Plan. While the general retirement age is 65, teammates with at least 10 years of service who have attained age 55 are eligible to retire and begin receiving a reduced pension immediately. If a teammate begins pension payments prior to the normal retirement age of 65, the payments are reduced based on a plan-specified reduction schedule ranging from receipt of 50% at age 55, increasing until reaching 98% at age 64, with the increases weighted more heavily toward the earlier years. Generally, pension benefits under each plan are paid to qualifying participants in the form of a life annuity for non-marriedparticipants and a joint and 50% survivor annuity for married participants. 2024 Non-QualifiedDeferred Compensation

| Name                   |     | Executive     
 Contributions 
 in 2024       
 ($)(1)        |     |           |     | Truist        
 Contributions 
 in 2024       
 ($)(2)        |     |         |     | Aggregate  Earnings 
 in 2024             
 ($)(3)              |     |           |     | Aggregate     
 Withdrawals/  
 Distributions 
 ($)           |     |        |     | Aggregate  
 Balance at 
 12/31/2024 
 ($)(4)     |     |            |
| William H. Rogers, Jr. |     |               |     |   211,296 |     |               |     | 211,310 |     |                     |     | 2,159,612 |     |               |     |      — |     |            |     | 11,247,307 |
| Michael B. Maguire     |     |               |     |    82,181 |     |               |     |  75,281 |     |                     |     |    91,330 |     |               |