Company: FITBI
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-045653
Chunk: 48

Company: FIFTH THIRD BANCORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 48
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. For Mr. Shaffer: As Chief Risk Officer, Mr. Shaffer was responsible for managing all aspects of Fifth Third’s regulatory results and risk programs including, but not limited to, operational, legal and regulatory compliance, strategic, interest rate, liquidity, strategic, price, and credit risks. He was also responsible for providing strategic support and ensuring Fifth Third’s initiatives were appropriate given the Company’s risk profile. In addition, Mr. Shaffer was responsible for performing an independent risk management assessment for each of the NEOs, other than himself, to determine if the NEOs are achieving risk-balanced results while consistently demonstrating behaviors that support an appropriate risk culture. The VCP award was based on 2024 performance and Mr. Shaffer’s overall contribution to Fifth Third’s performance. The long-term, equity-based award granted in February 2024 was based on performance against 2023 objectives and market-based compensation considerations. For Mr. Lavender: As Head of the Commercial Bank, Mr. Lavender was responsible for executing on a clear vision for the Commercial Bank that includes driving business strategy, establishing cultural and talent priorities, and delivering strong financial, operational, and risk outcomes. In addition to a continued focused expansion in the middle market and select vertical businesses, Mr. Lavender oversaw the initiation of the Corporate and Investment Bank structure within the commercial Bank to position the Company for the future. The VCP award was based on 2024 performance and Mr. Lavender’s overall contribution to Fifth Third’s performance. The long-term, equity-based award granted in February 2024 was based on performance against 2023 objectives and market-based compensation considerations.

| Fifth Third 2025 Proxy Statement |     | 57 |

COMPENSATION DISCUSSION AND ANALYSIS 2025 Executive Compensation Plan Design Changes 2025 VCP Changes. The Company and the Committee review the VCP annually to determine if changes should be made to the plan for the next year. During the review in 2024 for the 2025 plan updates, there were no changes to the VCP core plan or funding design. Modest changes were made to the funding modifier to align with the Company’s strategic objectives of stability, profitability, and growth. The emphasis for evaluation of the overall modifier will be on continuing to provide superior return levels compared to our peers, while requiring we maintain stable capital and liquidity positions and continue to appropriately invest in long term success with strategic initiatives. The potential impact of the modifier remains at +/- 20 funding points, with the Committee