Company: MTB-PJ
Filing Date: 2025-03-04
Form Type: DEF 14A
Source: 0001193125-25-044781
Chunk: 38

Company: M&T BANK CORP
Filing Date: 2025-03-04
Form: DEF 14A
Chunk 38
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 executive officers (including the NEOs) and reporting such determinations to the full Board. The C&HC Committee does not have any formal policies for allocating compensation among salary, annual cash incentive awards and long-term equity incentives, short- and long-term compensation or among cash and non-cashcompensation. Instead, the C&HC Committee exercises judgment to establish a total compensation program for each NEO that is a mix of current, short- and long-term incentive compensation, and cash and non-cashcompensation, which the C&HC Committee believes is appropriate to achieve the goals of the executive compensation program and corporate objectives. As discussed below, in determining the amount and mix of compensation to be paid to each NEO, the C&HC Committee reviews the compensation levels of the NEOs relative to a group of commercial banking peers that are similar in size and business mix (the “peer group”). As part of this review, the C&HC Committee also considers the financial performance of M&T relative to the peer group, as well as certain other factors, including M&T’s stock price performance and relative shareholder returns, compensation mix philosophy, risk management, and individual and corporate performance. The C&HC Committee reviews M&T’s financial performance and risk management performance prior to finalizing TDC for the NEOs. The C&HC Committee’s responsibilities with respect to executive compensation include:

| • |     | understanding, monitoring, and effectively challenging M&T’s performance management practices, ensuring they are aligned with the bank’s stated “pay for performance” philosophy and risk appetite; |

| • |     | annually reviewing and approving the corporate goals and objectives relevant to CEO and executive officer compensation; |

| • |     | conducting the CEO’s annual performance review; |

| • |     | reviewing the annual performance reviews of Section 16 officers. This includes discussions of team performance and leadership abilities (in addition to individual performance); |

| • |     | annually reviewing and approving the base salaries, annual incentive opportunities and overall TDC of the NEOs and other Section 16 executive officers; |

| • |     | annually reviewing and approving equity award opportunities of the NEOs; and |

| • |     | oversight of M&T’s executive management succession planning process (as further described in the Corporate Governance of M&T Bank Corporation section above). |

Role of the Chief Executive Officer The CEO provides the performance assessments for the other NEOs and makes compensation recommendations to the C&HC Committee in this regard. Performance achieved against business unit/function and individual goals set in early