Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 48

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 48
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 supported by strong corporate governance. |

Key Compensation Goals For 2024 the executive-compensation program supported the following key goals.

| • | Align the interests of our executives with those of our shareholders. |

| • | Tie the majority of executive compensation to performance. |

| • | Set rigorous goals that motivate and reward our executives to achieve strong short-term and long-term performance. |

| • | Encourage prudent but not unnecessary or excessive risk-taking. |

| • | Remain competitive with the market in attracting and retaining top talent. |

| • | Support our Purpose, Mission, and Values. |

| 42 |     | | 2025 Proxy Statement |

Compensation Discussion and Analysis Section 4—Elements of Executive Compensation Summary

| Purpose            
 Performance Period |     | Base Salary                                                                                                                       
 Fixed pay reflecting scope of leadership responsibilities, experience, performance, skills, knowledge, and market competitiveness 
 —                                                                                                                                 |     | Annual Incentive Performance Awards                                                                                                                                                                                                                                                                                                                 
 Short-term incentive rewarding annual corporate, business/function, and individual performance                                                                                                                                                                                                                                                      
 1 Year (January 1, 2024- December 31, 2024)                                                                                                                                                                                                                                                                                                         |     | Performance Share Unit and Long-                                                                                                                                                                                                                                                                                                                                                        
 Term Incentive Plan Awards                                                                                                                                                                                                                                                                                                                                                              
 Long-term incentives rewarding the achievement of absolute and relative EPS objectives, subject to minimum capital requirements and a TSR modifier                                                                                                                                                                                                                                      
 3 Years (January 1, 2024- December 31, 2026)                                                                                                                                                                                                                                                                                                                                            |     | Restricted Stock Unit Awards                                                                                                                                                                                                                    
 Long-term incentive rewarding the sustainable appreciation of Truist’s stock price                                                                                                                                                              
 —                                                                                                                                                                                                                                               |
|:-------------------|:----|:----------------------------------------------------------------------------------------------------------------------------------|:----|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Key Features       |     | Fixed cash compensation                                                                                                           |     | Cash award   Corporate payout based on the results of the structured scorecard   •  Primary financial measures (absolute and relative) •  Secondary financial measures (absolute and relative) •  Strategic areas of focus   Incentive award based on corporate payout, business/function and individual performance, and risk-management execution |     | Equity and (typically) cash awards   Payouts based on:   •  Absolute EPS (75%) •  Relative EPS Growth (25%) •