Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 96

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 96
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 as the rise in the Company’s stock price during 2024, which caused a large increase in the value of the significant portion of NEO pay comprised of equity awards.

| 2025 Proxy Statement | |     | 81 |

Pay Versus Performance Cumulative TSR of the Company and Cumulative TSR of the Peer Group The Company’s cumulative TSR over the five-year period presented in the PvP table was -3.0%,while the cumulative TSR of the peer group presented for this purpose, the KBW Nasdaq Bank Index (BKX), was +32.6% over the five years presented in the PvP table. For more information regarding the Company’s performance and the companies that the Compensation and Human Capital Committee considers when determining compensation, refer to the CD&A.

| 82 |     | |2025 Proxy Statement |

Stock Ownership Information The table below sets forth the beneficial ownership of Truist common stock as of January 31, 2025 by (i) all current directors and persons nominated to become directors, (ii) the named executive officers (or NEOs) in this proxy statement, (iii) all then-current directors and executive officers of Truist as a group, and (iv) each person who is known by Truist to be the beneficial owner of more than five percent of our common stock. Unless otherwise indicated, all persons listed below have sole voting and investment powers over all shares beneficially owned.

| Name of Beneficial Owner                                                                  |     | Shares of Common  Stock Beneficially Owned(1) |     |             |    |     | Shares of Common  Stock Subject to a Right to Acquire(2) |     |         |     | Total(3) |     |             |     | Percentage of  Common Stock |     |     |   |
| Directors and Executive Officers                                                          |     |                                               |     |             |    |     |                                                          |     |         |     |          |     |             |     |                             |     |     |   |
| Jennifer S. Banner                                                                        |     |                                               |     |      27,969 |    |     |                                                          |     |       — |     |          |     |      27,969 |     |                             |     |   * |   |
| K. David Boyer, Jr.                                                                       |     |                                               |     |      15,317 |    |     |                                                          |     |       — |     |          |     |      15,