Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 40

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 40
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87,606 |
| Median (excluding M&T)                    |     |                   18,334 |     |              196,310 |

Process for Determining 2024 NEO Compensation Factors Considered.In determining NEO compensation, the C&HC Committee uses a holistic and balanced discretionary approach, guided by the executive performance scorecards to evaluate performance against the following quantitative and qualitative factors:

| Quantitative Factors                                  |     | Qualitative Factors                                                                        |
| Operating Income                                      |     | Asset quality relative to the banking industry                                             |
| EPS                                                   |     | Responsiveness to economic environment                                                     |
| Return on Assets and Return on Tangible Common Equity |     | Achievement of operating plans                                                             |
| Returns to Shareholders                               |     | Achievement of performance objectives related to talent management and employee engagement |
| Various capital ratios                                |     | Achievement of performance objectives related to customer satisfaction and customer growth |
| Competitive market compensation data                  |     | Leadership and establishment of strategic direction                                        |
| Efficiency ratio                                      |     | Effective risk management and adherence to the risk appetite                               |

One of the key components of our executive compensation program is tying pay to company performance. At the beginning of each year, bank-wide and business unit/function specific performance goals are established, as are other goals related to our strategic imperatives. At the end of the year, the C&HC Committee compares these expectations to actual results for M&T and each NEO. We evaluate corporate performance by using a diverse set of performance metrics to ensure that no single measure can disproportionately impact compensation. Our performance is evaluated against internal expectations and our operating plan for the year and is balanced with a relative performance evaluation by comparing our results to those of the peer group.

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STI and Executive Performance Scorecards.To further ensure a strong alignment between performance and compensation determinations (specifically STI awards), we use executive performance scorecards for each of the NEOs. The executive performance scorecards provide a consistent framework to measure company, business unit/function and individual performance against established quantitative and qualitative metrics. In addition, all performance is reviewed in the context of the company’s and the business unit/ functional area’s adherence to their respective risk appetite parameters. Bank-wide and business unit/function specific risk adherence scores are also taken into consideration when finalizing performance ratings and the resulting STI awards. Below is an illustration of how the executive performance scorecards are structured for the NEOs and what factors/metrics are considered with corresponding weightings. Company performance (strategic imperatives and achievement against operating plan), Business