Company: FITBI
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-045653
Chunk: 37

Company: FIFTH THIRD BANCORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 37
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) | The percentages reflect the Named Executive Officer’s base salary as of December 31, 2024, target annual cash incentive award for 2024, and target long-term, equity-based incentive award for 2024. |

The Committee considers several factors and objectives relevant to each program when determining compensation. The Committee also contemplates the impact of each award on the Total Direct Compensation package. Total Direct Compensation opportunities are intended to target the median of the relevant market data, and actual compensation (both amount and mix) for executives varies, based on their performance, prior experience, and other pertinent factors. In addition, for purposes of attracting and retaining key executives, the Committee may determine that an additional award, an above-median sign-on package, an incentive guarantee for a new hire, or a Total Direct Compensation package that is above market median, is appropriate. As shown in the pay mix charts above, the annual cash incentive award and long-term, equity-based incentives constitute the majority of executive officers’ Total Direct Compensation under our pay-for-performance structure. The actual amounts realized by executive officers under these incentive plans vary based on individual performance and the performance of the Company. Company performance under these incentive plans is evaluated from a variety of perspectives, including: 2024 Executive Compensation Plan Design and Award Decisions As stated above, compensation is delivered through three primary elements: base salary, an annual cash incentive through our Variable Compensation Plan, and long-term, equity-based incentives. We review and assess our compensation practices and programs on an annual basis, taking into account the Company’s strategic objectives, compensation philosophy, regulatory guidance, risk culture, and external market practices. Each element of the executive compensation program, along with any changes that were made to the program for 2024, are described in the following paragraphs.

| 48 |

COMPENSATION DISCUSSION AND ANALYSIS Base Salary. The Committee reviews individual base salaries of the Company’s executive officers annually or at the time of promotion or hire, as applicable. The objectives of the Company’s base salary program are to provide salaries at a level that allows the Company to attract and retain qualified executives and to recognize and reward individual performance. The following items are considered when determining base salary levels:

| A competitive market analysis provided by the Company’s external compensation consultant                                                 |
| The executive officer’s experience, scope of responsibilities, performance, and potential                                                |
| Internal equity in relation to other executives with similar levels of experience, scope of responsibilities, performance, and potential |
| Other relevant information, which may include governmental or