Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 77

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 77
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879,100 |
| 2021 |     |                                                                                                    |     | 2,214,324 |     |                                                                                                                                    |     |   429,158 |   |     |                                                                                                    |     | — |     |                                                                                                                                       |     |   173,178 |   |     |                                                            |     | — |     |                                                                                                 |     | — |     |                                  |     | 2,816,660 |
| 2020 |     |                                                                                                    |     | 1,221,813 |     |                                                                                                                                    |     |  (259,702 | ) |     |                                                                                                    |     | — |     |                                                                                                                                       |     |   (17,992 | ) |     |                                                            |     | — |     |                                                                                                 |     | — |     |                                  |     |   944,119 |

| (4) | The Peer Group TSR set forth in this table utilizes the KBW NASDAQ Bank Index (assuming reinvestment of all dividends), which we also utilize in the stock performance graph required by Item 201(e) of RegulationS-Kincluded in our Annual Report on Form10-Kfor the year ended December 31, 2024. The comparison assumes $100 was invested for the period starting December 31, 2020, through the end of the listed year in the company and in the KBW NASDAQ Bank Index, respectively, and assumes reinvestment of all dividends. Historical stock performance is not necessarily indicative of future stock performance. |

| (5) | We determinedReturn on Tangible Common Equity (ROTCE)to be the most important financial performance measure used to link company performance to Compensation Actually Paid to our PEO andNon-PEONEOs in 2022, 2023 and 2024. ROTCE is computed by dividing net operating income available to common equity by average tangible common equity. Net operating income available to common equity is computed by taking net income available to common equity and adding back theafter-taxeffect of the amortization of core deposit and other intangible assets, adding back theafter-taxeffects of merger-related expenses, and subtracting the after- tax effects of merger-related gains. Average tangible common equity is computed by taking average common equity for the applicable period and subtracting average goodwill and average core deposit and other intangible assets (net of any related average deferred tax amounts). The C&HC Committee and management use thesenon-GAAPfinancial measures as they believe they better reflect the impact of