Company: BK-PK
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001193125-25-046216
Chunk: 61

Company: Bank of New York Mellon Corp
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 61
---
’s recommendation. Targets are reviewed annually and adjusted if the HRC Committee determines appropriate, including adjustments to reflect changes in, or new, responsibilities.BNY 2025 PROXY STATEMENT 55

## ITEM 2. ADVISORY VOTE ON COMPENSATIONCompensation Discussion & AnalysisThe following table provides a summary of the HRC Committee’s key compensation decisions impacting target total direct compensation (consisting of base salary and target incentive) for our NEOs for the 2024 performance period.Compensation CategoryKey DecisionsCEOOther NEOs1No Changes to Base Salaryfor 2024• Continued annual base salary of $1,300,000• Continued annual base salary of $650,000Target Incentive Changes• Mr. Vince’s target incentive was increased to $18,700,000• Mr. McDonogh’s target incentive was increased to $8,350,000• Mr. Kumar’s target incentive was increased to $5,600,000Factors Considered• The HRC Committee increased the CEO’s target incentive to continue to position his target total direct compensation closer to the median of peer CEO pay levels in recognition of his continued strong performance, particularly given the company’s complexity as a global systemically important bank (“G-SIB”), as designated by the Financial Stability Board.• Increases to target incentive for other NEOs reflected the HRC Committee’s consideration of individual performance and responsibilities and market data.• The HRC Committee’s determinations in each case included input from the committee’s independent compensation consultant and internal pay equity evaluations.1Does not include Mr. Minaya who joined us in September of 2024.Mr. Minaya’s Compensation Arrangements.Mr. Minaya joined the company in September 2024 as Senior Executive Vice President, Global Head of BNY Investments and Wealth. In connection with his joining the company, the HRC Committee approved a compensation arrangement for Mr. Minaya. Mr. Minaya’s base salary was set at a rate of $650,000 annually, and the HRC Committee provided for an incentive award for 2024 of $12.35 million, with 30% to be paid in cash and 70% to be paid in a combination of deferred equity as determined by BNY. Additionally, in consideration for the equity awards and/or other awards from his prior employment that he forfeited as a result of his employment with BNY, Mr. Minaya is eligible for