---
schema_version: "secwatch.filing_event.v1"
accession: "0000092230-24-000054"
form_type: "8-K"
ticker: "TFC"
cik: "0000092230"
company_name: "TRUIST FINANCIAL CORP"
filed_at: "2024-08-30T23:59:59+00:00"
generated_at: "2026-05-31T06:55:22.847560+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000092230-24-000054
- form_type: 8-K
- ticker: TFC
- cik: 0000092230
- company_name: TRUIST FINANCIAL CORP
- filed_at: 2024-08-30T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92230/000009223024000054/0000092230-24-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92230/000009223024000054/tfc-20240826.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000092230-24-000054
- JSON: https://secwatch.observer/filing/0000092230-24-000054.json
- Plain text: https://secwatch.observer/filing/0000092230-24-000054.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.