Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 37

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 37
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 over time in alignment with our compensation philosophy and the objectives cited above.Executive performance scorecards were utilized for the 2024 performance year and serve to provide more structure around our performance-guided discretionary variable compensation program, specifically with respect to STI awards. The executive performance scorecards consider overall bank performance, in addition to the performance of the business unit(s) or functional area(s) led by each NEO and their individual contributions predominantly with respect to risk management, leadership and talent development. As a result of the executive performance scorecard review, strong financial results of the organization and sound risk management, STI awards were increased for the NEOs. For continued retention and shareholder alignment, LTI awards for NEOs were increased from the prior year to better reflect performance, market competitiveness and continued alignment with shareholders.The charts below represent the 2024 performance year total compensation pay mix of our CEO and the average of our other NEOs. For purposes of this and other “performance year” disclosures in this CD&A, compensation for the “performance year” consists of (i) annual base salary as of the end of the performance year, (ii) STI paid in the following year for the prior year’s performance, and (iii) the LTI award (target value) granted in the following year for the prior year’s performance and in consideration of anticipated future contributions. The LTI award is comprised of PHSUs, PVSUs andNon-QualifiedStock Options (“NQSOs”). This view differs from the disclosure in the 2024 Summary Compensation Table (“SCT”) set forth in the “Executive Compensation” section beginning on page 68 below, in that the LTI awards disclosed in the SCT reflect equity awards granted during 2024 for the prior performance year (i.e., 2023 performance). We prefer the performance year view as this is how we (and many of our peer companies) tend to view executive compensation.The charts below show the 2024 performance year pay mix for our CEO and the average for our other NEOs, of which 90% of pay is “at risk” for Mr. Jones and, on average, 83% of pay is “at risk” for our other NEOs.42
Roles and Responsibilities M&T’s executive compensation programs are administered through the joint efforts of various constituents to ensure sound holistic governance around compensation determinations. Role of the C&HC Committee The C&HC Committee is responsible for determining M&T’s compensation philosophy and objectives, as well as compensation of the