Truist grants $4.5M performance equity awards to CFO, consumer banking chief; revamps 2024 comp plan

TRUIST FINANCIAL CORP

CFO Michael Maguire and Consumer Banking Officer Dontá Wilson each receive $4.5M in performance share units (Sept 2024 – Aug 2027).
Awards vest based on minimum capital requirements and relative TSR vs. KBW Nasdaq Bank Index (75%-125% payout range).
One-time awards aim to retain key leaders after the sale of Truist Insurance Holdings and strategic balance sheet repositioning.
2024 annual incentive program shifted from formula-driven to a comprehensive evaluation with 8 primary and 5 secondary financial measures.
2024 long-term incentives now based on absolute EPS and relative EPS growth (previously ROACE), plus relative TSR modifier.

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