Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 47

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 47
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. In accordance with applicable law, this vote is “advisory,” meaning it will serve as a recommendation to the Board but will not be binding. The Compensation and HR Committee will carefully consider the outcome of this vote when determining future executive compensation arrangements. Abstentions and broker non-votes will not count as votes cast and will have no effect. |

#### Citizens Financial Group47

#### Compensation Matters

### Compensation Discussion and Analysis
This Compensation Discussion and Analysis (the “CD&A”) describes our executive compensation program, the decision-making process, and the resulting decisions of the Compensation and HR Committee regarding the 2024 compensation of our NEOs. The Company’s NEOs for the 2024 year are as follows.

| Name of Executive    |     | Position                                         |
| Bruce Van Saun       |     | Chairman and Chief Executive Officer             |
| John F. Woods        |     | Vice Chair and Chief Financial Officer           |
| Brendan Coughlin     |     | Vice Chair and Head of Consumer Banking          |
| Donald H. McCree III |     | Senior Vice Chair and Head of Commercial Banking |
| Elizabeth S. Johnson |     | Former Vice Chair and Chief Experience Officer   |

### Executive Compensation Overview
The Compensation and HR Committee has designed and administered an executive compensation program that has a demonstrated history of maintaining appropriate alignment between executive compensation and Company performance, accounts for and has been responsive to shareholder feedback, and is supported by effective corporate governance and risk management.

Responsiveness to Shareholders and Say-on-Pay Outcome

Last year, our say-on-pay proposal received approximately 63% shareholder support, which was a significant decrease from the prior year's support level of 93% as well as historic support levels. This outcome was seriously considered by our Compensation and HR Committee and senior management. Maintaining an open dialogue with shareholders is important to us and during 2024 we continued our long-standing shareholder outreach program. Since our IPO, we have had discussions with shareholders in the fall of each year. Starting in 2023, we expanded our program to hold additional discussions with shareholders following our proxy filing and prior to our annual meeting. During 2024, our first round of engagement was held after we filed our proxy statement and prior to our annual meeting. Our second round of engagement was held during the fall of 2024 with a particular focus on understanding any specific concerns about our compensation program in light of lower say-on-pay support in 2024.

The Company invited a substantial number of shareholders to engagement sessions and held