Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 83

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 83
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,139,330 |     |                                      | 18,906,068 |     |             | 18,906,068 |

| (1) | If termination occurs on or after March 31, 2024 due to retirement, death, disability, or other than for Cause or for Good Reason, the NEO will receive pro-rated short-term incentive awards. The amounts for these NEOs reflect fiscal year 2024 actual AIP award payouts as the table assumes termination on December 31, 2024. |

| (2) | Following termination due to retirement, death, disability, or other than for Cause or for Good Reason, LTIP and PSU awards remain subject to the Company’s actual performance. Therefore, we have calculated these amounts using actual performance for the 2022 LTIP and PSU awards and an assumption of target performance for both the 2023 and 2024 LTIP and PSU awards. However, these are forward-looking statements that may not be representative of actual performance. For these scenarios, the amounts include for the 2023 and 2024 LTIP awards pro-rated numbers reflecting a termination date of December 31, 2024 as LTIP awards are calculated as a percentage of the NEO’s average salary over the three-year performance period, and salary for periods after termination is zero. Following a change of control, the NEO is entitled to LTIP payments prorated through the date of the change of control. The amounts shown above include actual payments for the 2022-2024 LTIP cycle and projected pro rata payments for the two outstanding three-year LTIP cycles that have not been completed as of December 31, 2024, assuming that the Company’s performance criteria are met at 100% of the NEO’s target opportunity and such payment being prorated through the date of the change of control (assumed to be December 31, 2024 for purposes of this table). Following a change of control, the NEO is entitled to PSU payments, with performance based on actual results for the completed calendar year(s) and target performance assumed for the remaining uncompleted calendar year(s). The amounts shown above include actual performance awarded for the 2022-2024 PSU awards, and PSU awards for 2023 and 2024 at the target level of performance. |

| (3) | Value determined by multiplying the number of RSUs that vest by $43.38, the closing market price of a share of our common stock on December 31, 202