Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 58

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 58
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 |     | Objective                                                                                                                                                                                                                       |     | Key Characteristics                                                                                                                                                                                                                                                                                                                                                                    |
| Base Salary           |     | To attract and retain talented executives who can effectively lead the organization to achieve our strategic objectives.                                                                                                        |     | Base salaries are intended to compensate executives fairly for the positions held. Salaries are reviewed annually and are subject to change at the Compensation and HR Committee’s discretion if, among other reasons, executives’ responsibilities change materially or there are changes in the competitive market environment.                                                      |
| Variable Compensation |     | To support a culture where colleagues recognize the importance of serving customers well and are rewarded for their individual contributions and our collective success and to align compensation with shareholders’ interests. |     | Variable compensation is designed to reward achievement of long-term objectives and annual progress toward those objectives. Individual NEO variable compensation awards are determined by the Compensation and HR Committee through the framework described in further detail in“—Our Compensation-Setting Process".                                                                  |
| - Long-Term Awards    |     |                                                                                                                                                                                                                                 |     | Granted in the form of RSUs and PSUs, long-term awards are intended to tie executive pay to the interests of shareholders by driving achievement of long-term objectives and providing a retention incentive for executives. The value actually realized by executives varies based on stock price movement and, in the case of PSUs, other financial performance factors.             |
| - Short-Term Awards   |     |                                                                                                                                                                                                                                 |     | The remaining portion of variable pay is delivered in cash and intended to reward executives for annual progress toward achievement of the Company’s long-term objectives.                                                                                                                                                                                                             |
| Other Benefits        |     | To give executives an opportunity to provide for their retirement and address other specific needs.                                                                                                                             |     | Our NEOs are eligible to participate in our Company-sponsored benefit programs, including our broad-based 401(k) plan and employee stock purchase plan, on the same terms and conditions that apply to all colleagues. We provide certain limited perquisites to our NEOs, which are described in further detail in“—Other Compensation and Benefits— Perquisites and Other Benefits”. |

#### Citizens Financial Group57

#### Compensation Matters

#### Variable Compensation Mix
The Compensation and HR Committee believes that our variable compensation mix delivers a meaningful portion of variable compensation in the form of long-term equity awards (65%-75%). At least 50% of long-term awards are granted in the form of PSUs with a three-year performance period, which increases to nearly two-thirds for our CEO, CFO, and the Heads of our Consumer