Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 46

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 46
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 M&T’s Insider Trading Policy. The C&HC Committee also does not grant equity awards in anticipation of the release of material, nonpublic information, and M&T does not time the release of material, nonpublic information based on equity award grant dates, vesting events or sale events. For all stock option awards, the exercise price is the closing price of our common stock on the NYSE on the date of the grant. If the grant date falls on a non-tradingday, the exercise price is the closing price of our common stock on the NYSE on the last trading day preceding the date of grant. The exercise price for options is not less than 100% of the Fair Market Value on the date of grant. During 2024, no equity awards were granted to our NEOs during the four business days prior to, or the one business day following, the filing of M&T’s periodic reports or the filing or furnishing of a Form 8-Kthat disclosed material non-publicinformation. Individual Performance Assessments The C&HC Committee assessed the performance of each NEO based on the factors described in the “Process for Determining 2024 NEO Compensation” section above, and against our 2024 strategic imperatives, as well as each NEO’s individual performance goals, as more fully described below. In addition, the C&HC Committee also considers market-competitive compensation levels in determining each NEO’s TDC.

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René F. Jones - Chairman and Chief Executive Officer The C&HC Committee established Mr. Jones’ TDC based on the company’s performance relative to peers and our 2024 Operating Plan, as well as progress toward our long-term strategic objectives. Specifically, the C&HC Committee considered the following performance factors (among others discussed in this CD&A) in establishing Mr. Jones’ TDC:

| Company  Results  (“What”)    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Strong financial performance and long-term shareholder return   •  Exceeded Operating Plan for each of the following key metrics: net operating income, diluted net operating earnings per common share, net operating returns on average tangible assets and average tangible equity(1)   •  Net operating income(1) was $2.63 billion – the second highest level in our company’s history – only behind 2023, which was the highest ever earned at M&T and reflected an improved net interest margin in that year due largely to the rapid rise in interest rates   •