Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 66

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 66
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 provides for evaluation of both corporate and individual results that can be compared to stated risk appetites in all risk categories |

| • | presents the positive and negative risk outcomes that have influenced each risk category, if necessary, and includes recommended actions with respect to significant negative outcomes |

| • | reinforces a culture of accountability |

| • | aligns performance and short-term incentive compensation with the expectations and outcomes for key elements of risk management effectiveness |

| • | informs the recommendations of the Chief Risk Officer, the CEO, and the Committee’s own insight and evaluation |

| • | informs our risk review process, in which 100% of each executive officer’s short-term incentive compensation for 2024 was subject to potential adjustment |

| • | is reviewed by the compensation consultant |

The Committee believes that the executive risk outcomes assessment is an important element to appropriately balance incentive compensation at the executive officer level based on risk. The use of this executive risk outcomes assessment has been discussed with our regulators as an additional way to conform to incentive compensation guidance and best practices. REGULATORY CONSIDERATIONS IN SETTING COMPENSATION Banking regulators have provided input on and influenced the compensation practices and incentive compensation structures at the largest financial institutions in the United States, focusing on the risks intrinsic to the design and implementation of compensation plans as well as the reasonableness of each element of compensation. Regulatory guidance is considered in the design and implementation of our executive-compensation programs. The Committee continues to assess our pay practices to balance risks and meet stakeholder expectations with our commitment to link named executive pay to our performance while maintaining executive-compensation programs that are market competitive and shareholder aligned.

| 2025 Proxy Statement | |     | 61 |

Compensation Discussion and Analysis Section 7—Related Policies and Practices Clawback Policies The Committee adopted the Executive Compensation Recoupment Policy (the “Recoupment Policy”) in 2023. If there is a restatement of Truist’s financial statements, Truist is required to recover, unless the Committee determines that the recovery is impractical, the excess of any incentive-based compensation received by any (i) current or former executive officer and (ii) any other teammate of Truist and its subsidiaries designated by the Committee as subject to the Recoupment Policy (each, a “designated executive”), over the incentive-based compensation that should have been received by the designated executive during the recoupment period. The recoupment period is the three fiscal years completed immediately preceding the earlier of (i) the date