Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 41

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 41
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 Line/Functional performance (growth, profits, returns, customer experience (“CX”) and employee experience (“EX”)) and Individual performance (primarily leadership, talent development and risk management outcomes) are all considered in the short-term incentive award determination. Market Analysis.The C&HC Committee reviews an estimated market pay range for each NEO role. Ranges are developed based on public information and third-party market surveys of compensation for the same or comparable roles at peer firms. This practice is designed to ensure that our NEO pay appropriately reflects market pay, based on varying levels of performance. The C&HC Committee determined that all of our NEOs were appropriately positioned in the range of our peer group compensation data based on tenure in the role and performance. In establishing pay levels for the NEOs, the C&HC Committee considers the various quantitative and qualitative factors set forth in this CD&A in the context of market data, internal equity, the value of the executive’s performance over the long-term, and their future potential with M&T. In addition, the C&HC Committee reviewed the performance of the NEOs against the executive performance scorecard metrics described above.

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Below is a summary of the annual pay for performance review cycle for the 2024 performance year:

| Annual Pay for Performance Cycle |     |                |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Step                             |     | Timing         |     | Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 1                                |     | 1st Quarter of 
 2024           |     | Annual Objectives   1.  Quantitative – 2024 Operating Plan •  Bank-wide goals •  Business-unit specific goals   2.  Qualitative – 2024 Strategic Imperatives •  Differentiate our customer experience •  Grow new customers / develop new markets •  Drive operational effectiveness •  Optimize our risk management infrastructure •  Be a talent and people driven organization   3.  Cascade objectives to each Executive Officer 4.  Distribute executive performance scorecards to Executive Officers |
| 2                                |     | 2nd Quarter of 
 2024           |     | Succession Planning   1.  Joint meeting between the C&HC Committee and the N&G Committee to review succession plans for executive leadership roles, including Chief Executive Officer, and other key positions