Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 42

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 42
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 the independent registered public accounting firm is compatible with maintaining the independence of the auditors. Based upon a review of the reports by, and discussions with, management and the independent registered public accounting firm, and the Audit Committee’s review of the representations of management and the Report of the Independent Registered Public Accounting Firm, the Audit Committee recommended on February 24, 2025 to the Board of Directors that the audited financial statements be included in our Annual Report on Form 10-Kfor the year ended December 31, 2024, filed with the SEC on February 25, 2025. Submitted by the Audit Committee of the Truist Board of Directors as of February 24, 2025:

| Dallas S. Clement, Chair |     | Bruce L. Tanner    |
| Jennifer S. Banner       |     | Steven C. Voorhees |

| 36 |     | | 2025 Proxy Statement |

Proposal 3—Advisory Vote to Approve Truist’s Executive- Compensation Program Proposal 3 asks shareholders to approve our executive-compensation program, through what is commonly known as a say-on-payadvisory vote. The Compensation and Human Capital Committee and the Board believe that our executive-compensation program, as described in the “Compensation Discussion and Analysis,” reflects a pay-for-performanceculture at Truist that is rooted in our Purpose, Mission, and Values. The Compensation and Human Capital Committee and the Board also believe that the executive-compensation program is well designed and effective in aligning the interests of the executives with the long-term interests of our shareholders, while minimizing incentives for unnecessary and excessive risk taking consistent with applicable banking and other laws. In making a decision on whether to approve our executive-compensation program, we ask that you consider the “Compensation Discussion and Analysis,” the compensation tables, and the related narrative disclosures in this proxy statement. The say-on-payadvisory vote is not intended to address any specific item of compensation but rather the overall compensation of our named executive officers and the compensation philosophy, policies, and practices described in this proxy statement. The Board asks shareholders to support our executive-compensation program through the following resolution: “Resolved, that the shareholders approve, on an advisory basis, the compensation paid to Truist’s named executive officers, as described in the Compensation Discussion and Analysis, the compensation tables, and the related narrative disclosures in the Company’s 2025 Proxy Statement.” This say-on-payvote is advisory and, therefore, not binding on the Company,