Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 61

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 61
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 that reference point, the Company then established a performance range above and below its business plan, with consideration of the following factors: market conditions; the competitive landscape; analyst expectations; publicly announced guidance range; and information provided by the Compensation and HR Committee’s independent compensation consultant.

Threshold performance levels ensure that we will be able to effectively incentivize our executives, including in a dynamic environment that presents some uncertainty around financial forecasting, particularly in outer years. Maximum performance levels assume a 3-year EPS compound annual growth rate (CAGR) of 35% over 2024 EPS and ending ROTCE above the high end of our 16%-18% medium-term guidance range. Performance goals between threshold and maximum are not linear and are set based on distinct performance scenarios using the methodology described above.

#### Citizens Financial Group59

#### Compensation Matters

#### Performance Outcome for 2022 PSUs
March 2022 PSUs were granted as compensation for the 2021 performance year (“2022 PSU Awards”). Half of each 2022 PSU Award was earned based on achievement of pre-established Diluted EPS goals and half was earned based on achievement of pre-established ROTCE goals during the performance period of 2022-2024, subject to the application of a +/- 10% TSR modifier based on TSR performance relative to the Company's peer group. Maximum payout level for these awards was 150% of target, including application of the modifier.

The below table reflects ROTCE and EPS performance during the performance period of 2022-2024 as well as the threshold, target, and maximum achievement levels that applied to the 2022 PSU Awards.

On February 12, 2025, the Compensation and HR Committee approved a final payout level of 84.8% of target for the 2022 PSU Awards based on the results below. The TSR modifier had no impact because Company TSR relative to the peer group during the performance period was at the 44th percentile.

| Metric                |     | 2022 PSU Award Targets |     |         |     |        |     | 2022-2024 UnderlyingResults* |     | % Earned |     | 2022 PSU Award Overall Payout 
 (% of Target)                 |
| Threshold             |     |                 Target |     | Maximum |     |        |     |                              |     |          |     |                               |
| 3-Year Average ROTCE  |     |                 10.00% |     |  14.00% |     |