Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-30

Truist Financial Corp (TFC)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$14,313,770
William Rogers total, FY2025
50th
CEO pay percentile vs peers
137:1
CEO-to-median pay ratio
91.46%
Say-on-pay support, latest vote
Companies that benchmark against TFC
15 companies name TFC as a compensation peer

Each company listed discloses TFC in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named TFC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
William Rogers$1,200,000$0$7,275,126$0$4,095,000$1,282,068$461,576$14,313,770
Chairman and Chief Executive Officer
Hugh Cummins III54,9650000449,4536,188,7026,693,120
Former Vice Chair and Chief Operating Officer
Kristin Lesher770,83303,515,08001,656,563279,265313,1656,534,906
Senior Executive Vice President and Chief Wholesale Banking Officer
Dont Wilson770,8331,3342,526,37301,616,2631,245,844126,8646,287,512
Senior Executive Vice President and Chief Consumer and Small Business Banking Officer
Michael Maguire762,50002,265,03901,669,414247,315100,3795,044,647
Senior Executive Vice President and Chief Financial Officer
Bradley Bender675,83301,636,76201,285,200305,50914,0003,917,304
Senior Executive Vice President and Chief Risk Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
William Rogers$14,313,770$13,951,543+362,227
Hugh Cummins III6,693,1208,024,551−1,331,431
Kristin Lesher6,534,90614,573,637−8,038,731
Dont Wilson6,287,5129,669,666−3,382,154
Michael Maguire5,044,6478,357,035−3,312,388
Bradley Bender3,917,304

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Bradley BenderChief Risk Officer2026-06-01D9,115$47$427,220CommonForm 4 ↗
Bradley BenderChief Risk Officer2026-06-01A16,149CommonForm 4 ↗
Bradley BenderChief Risk Officer2026-06-01D16,14900Derivative, Class A CommonForm 4 ↗
William H. Rogers JrDirector2026-07-20D13,25052693,810CommonForm 4 ↗
K. David Boyer, JrDirector2026-07-23D3,98651202,090CommonForm 4 ↗
Catherine P. BessantDirector2026-07-28A2,33800CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
William RogersRSU2025-02-2484,913$3,357,460
Michael MaguireRSU2025-02-281,24550,460
William RogersPSU2025-02-2412,13097,044145,5663,917,666
Michael MaguirePSU2025-02-243,59528,76043,1401,161,041
Michael MaguireRSU2025-02-2425,165995,024
Michael MaguirePSU2025-02-281771,4232,13458,514
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
William Rogers$3,357,460$3,917,666$053.9%
Michael Maguire1,045,4841,219,555053.8%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Hugh Cummins IIIRSU57,225$2,816,042
Michael MaguirePSU69,2663,408,580
Hugh Cummins IIIPSU78,9313,884,195
Bradley BenderRSU21,8111,073,319
Bradley BenderPSU56,7972,794,980
Kristin LesherRSU105,7055,201,743
Kristin LesherPSU201,9059,935,745
Dont WilsonRSU152,3457,496,910
Dont WilsonPSU84,3384,150,273
William RogersPSU257,20012,656,812
William RogersRSU215,54910,607,166
Michael MaguireRSU137,3186,757,431
05

Incentive-plan design — the Compensation Discussion & Analysis

The Committee believes our executive-compensation program should be aligned with the interests of shareholders, drive long-term value creation for the Company, and account for the safety and soundness of Truist commensurate with its structure, risk profile, complexity, activities, and size.

CEO STI target (% of salary)325%
CEO LTI target (% of salary)
Independent consultantFarient Advisors LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-28847,000,15779,114,8085,537,70091.46%Passed
20252025-04-29569,496,494387,747,4716,027,96059.49%Passed
20242024-04-23831,454,735104,812,9605,731,91188.81%Passed
20232023-04-25937,994,39865,669,2016,230,94393.46%Passed
20222022-04-26957,379,07660,481,9296,303,78194.06%Passed
20212021-04-27987,856,58752,551,8667,010,05094.95%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-04-2891.46%a
20252025-04-2959.49%b
20242024-04-2388.81%c

a. Approved under the standard stated in the filing — “Votes Required, Non-Votes, Abstentions Proposal Board Recommendation Vote Requirement (1) Effect of Abstentions Effect of Broker Non-Votes (2) 1--Election of Directors FOR each director nominee Majority of votes cast for each nominee No effect No effect 2--Advisory vote to approve Truist's executive-compensation program FOR Majority of votes cast No effect No effect 3--Ratification of the appointment of PricewaterhouseCoopers LLP as Truist's independent registered public accounting firm for 2026 FOR Majority of votes cast No effect Not applicable 4--Approval of the amendment and restatement of the Truist Financial Corporation 2022 Incentive Plan FOR Majority of votes cast No effect No effect 5--Shareholder Proposal Regarding a Report on Risks from Misalignment Between Company Policies and Customer Base AGAINST Majority of votes cast No effect No effect (1) Majority of the votes cast means the number of shares cast "for" the election of a director or a proposal must exceed the number of votes cast "against" the election of that director or proposal;”.

b. Approved under the standard stated in the filing — “Broker non-votes, as well as abstentions, will be counted in the number of shares represented for purposes of determining whether a quorum is present, but they will not be counted as votes cast for or against any of the proposals, and therefore will not affect the outcome of the vote.”.

c. Approved under the standard stated in the filing — “Broker non-votes, as well as abstentions, will be counted in the number of shares represented for purposes of determining whether a quorum is present, but they will not be counted as votes cast for or against any of the proposals, and therefore will not affect the outcome of the vote.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)137 : 1
CEO total compensation$14,333,032
Median employee compensation$104,397
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Thomas E. SkainsIndependent · Lead Independent Director · Compensation and Human Capital (Chair) · Executive · Nominating and Governance$155,342$173,869$0$0$5,000$334,211
Donna S. MoreaIndependent · Technology (Chair) · Risk160,000173,86900333,869
Steven C. VoorheesIndependent · Departed during FY145,000173,8690010,000328,869
Dallas S. ClementIndependent · Audit (Chair) · Executive · Nominating and Governance145,000173,869005,000323,869
Agnes Bundy ScanlanIndependent · Nominating and Governance (Chair) · Executive · Risk145,000173,869001,500320,369
Charles A. PattonIndependent · Audit145,000173,86900318,869
Laurence SteinIndependent · Risk (Chair) · Executive120,342173,86900294,211
K. David Boyer, JrIndependent · Technology120,000173,86900293,869
Bruce L. TannerIndependent · Audit · Compensation and Human Capital115,000173,86900288,869
Jennifer S. BannerIndependent · Audit · Technology115,000173,86900288,869
Linnie M. HaynesworthIndependent · Risk · Technology115,000173,86900288,869
Jonathan M. PruzanIndependent · Compensation and Human Capital · Risk · Partial-year service · Newly elected69,000107,66400176,664
William H. Rogers, JrEmployee director · Board Chair · Executive (Chair)00000
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$180,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)45,000 / 30,000 / 30,000
Stock ownership guideline5x the average annual cash retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,549,684
Equity awards (grant-date value)$2,020,223
All other compensation$21,500
Total cost of the board$3,591,407

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Truist Financial Corp2025William Rogers$1,200,000$7,275,126$0$4,095,000$14,313,770

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

FAQ

Frequently asked questions

Who was the highest-paid executive at Truist Financial Corp in fiscal 2025?
As disclosed, the highest-paid executive at Truist Financial Corp in fiscal 2025 was William Rogers, Chairman and Chief Executive Officer, with total compensation of $14,313,770.
How does Truist Financial Corp's chief executive pay compare to its disclosed peer group?
The filing shows that William Rogers' pay placed him at the 50th percentile of the disclosed peer group.
What is Truist Financial Corp's CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio was 137:1 as disclosed in the 2025 Compensation Brief.
How did shareholders vote on Truist Financial Corp's executive compensation?
Shareholders approved the executive compensation plan with 91.46% support in the latest vote.
How much does Truist Financial Corp spend in total on board compensation for fiscal 2025?
The total board compensation for fiscal 2025 was $3,591,407 as reported in the filing.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, William RogersDEF 14A2026-03-160001193125-26-107144Section “2025 Summary Compensation Table” · page 71. As printed: 14,313,770. Filing ↗machine: r4 · c39 · span 1270472–1270482
2Section 01, Hugh Cummins IIIDEF 14A2026-03-160001193125-26-107144Section “2025 Summary Compensation Table” · page 71. As printed: 6,693,120. Filing ↗machine: t260 · r24 · c39 · span 1316054–1316063
3Section 01, Kristin LesherDEF 14A2026-03-160001193125-26-107144Section “2025 Summary Compensation Table” · page 71. As printed: 6,534,906. Filing ↗machine: r12 · c39 · span 1289458–1289467
4Section 01, Dont WilsonDEF 14A2026-03-160001193125-26-107144Section “2025 Summary Compensation Table” · page 71. As printed: 6,287,512. Filing ↗machine: r16 · c39 · span 1298172–1298181
5Section 01, Michael MaguireDEF 14A2026-03-160001193125-26-107144Section “2025 Summary Compensation Table” · page 71. As printed: 5,044,647. Filing ↗machine: r8 · c39 · span 1279953–1279962
6Section 01, Bradley BenderDEF 14A2026-03-160001193125-26-107144Section “2025 Summary Compensation Table” · page 71. As printed: 3,917,304. Filing ↗machine: r20 · c39 · span 1307706–1307715
7Section 03, William Rogers RSUDEF 14A2026-03-160001193125-26-107144Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t281 · r7 · c35 · span 1387190–1387196
8Section 03, Michael Maguire RSUDEF 14A2026-03-160001193125-26-107144Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t281 · r19 · c35 · span 1411674–1411679
9Section 03, William Rogers PSUDEF 14A2026-03-160001193125-26-107144Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
10Section 03, Michael Maguire PSUDEF 14A2026-03-160001193125-26-107144Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
11Section 03, Michael Maguire RSUDEF 14A2026-03-160001193125-26-107144Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t281 · r17 · c35 · span 1407691–1407697
12Section 03, Michael Maguire PSUDEF 14A2026-03-160001193125-26-107144Section “2025 Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗
13Section 07, pay ratioDEF 14A2026-03-160001193125-26-107144Section “CEO Pay Ratio”. As printed: 137 : 1. Filing ↗machine: span 1855146–1855154
14Section 08, Thomas E. SkainsDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 334,211. Filing ↗machine: t132 · r20 · c19 · span 695474–695481
15Section 08, Donna S. MoreaDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 333,869. Filing ↗machine: t132 · r14 · c19 · span 687877–687884
16Section 08, Steven C. VoorheesDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 328,869. Filing ↗machine: t132 · r26 · c19 · span 703079–703086
17Section 08, Dallas S. ClementDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 323,869. Filing ↗machine: t132 · r10 · c19 · span 682784–682791
18Section 08, Agnes Bundy ScanlanDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 320,369. Filing ↗machine: t132 · r8 · c19 · span 680278–680285
19Section 08, Charles A. PattonDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 318,869. Filing ↗machine: t132 · r16 · c19 · span 690423–690430
20Section 08, Laurence SteinDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 294,211. Filing ↗machine: t132 · r22 · c19 · span 698017–698024
21Section 08, K. David Boyer, JrDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 293,869. Filing ↗machine: t132 · r6 · c19 · span 677770–677777
22Section 08, Bruce L. TannerDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 288,869. Filing ↗machine: t132 · r24 · c19 · span 700561–700568
23Section 08, Jennifer S. BannerDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 288,869. Filing ↗machine: t132 · r4 · c19 · span 675211–675218
24Section 08, Linnie M. HaynesworthDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 288,869. Filing ↗machine: t132 · r12 · c19 · span 685334–685341
25Section 08, Jonathan M. PruzanDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 176,664. Filing ↗machine: t132 · r18 · c19 · span 692969–692976
26Section 08, William H. Rogers, JrDEF 14A2026-03-160001193125-26-107144Section “Director Compensation”. As printed: 0. Filing ↗
27Section 02, Bradley Bender 2026-06-01Form 42026-06-030002045092-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
28Section 02, Bradley Bender 2026-06-01Form 42026-06-030002045092-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
29Section 02, Bradley Bender 2026-06-01Form 42026-06-030002045092-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, William H. Rogers Jr 2026-07-20Form 42026-07-220001182002-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, K. David Boyer, Jr 2026-07-23Form 42026-07-270001475856-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Catherine P. Bessant 2026-07-28Form 42026-07-300001649626-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
33Section 06, 2026 voteForm 8-K2026-05-010001193125-26-201455Item 5.07 · say-on-pay result. As reported: 91.46% (votes for as printed: 847,000,157). Filing ↗
34Section 06, 2025 voteForm 8-K2025-05-020000092230-25-000055Item 5.07 · say-on-pay result. As reported: 59.49% (votes for as printed: 569,496,494). Filing ↗
35Section 06, 2024 voteForm 8-K2024-04-260000092230-24-000018Item 5.07 · say-on-pay result. As reported: 88.81% (votes for as printed: 831,454,735). Filing ↗
36Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
37Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
38Section 09b board cost (computed)ComputedcomputedCash 1,549,684 + equity 2,020,223 + all other 21,500 = 3,591,407, summed across the director compensation table rows.machine: formula: Σ = 3,591,407
39Truist Financial Corp (subject), Section 10b CEO totalDEF 14A2026-03-160001193125-26-107144CEO total compensation as printed in Truist Financial Corp's own proxy. As printed: 14,313,770. Filing ↗machine: r4 · c39 · span 1270472–1270482