PNC Increases President's Compensation

Details

announced that the Human Resources Committee of its Board of Directors approved an increase in the 2024 target total compensation for Michael Lyons, the President of PNC, from $9,000,000 to $10,500,000, effective February 16, 2024. The Committee also approved a compensation mix of 65% long-term incentive and 35% cash compensation, with the annual base salary remaining at $700,000.

Items reported

About PNC Financial Services Group, Inc.

PNC Financial Services Group, Inc. is a diversified financial services institution that delivers comprehensive banking and financial solutions across the United States. Renowned for its broad range of services, PNC offers personal banking, mortgage and loan products, as well as wealth management and institutional banking solutions. It serves individual consumers, small businesses, and corporations, providing tailored services to meet various financial needs. PNC is distinguished by its regional community banking model, fostering strong local connections while offering the capabilities of a large financial organization. The company plays a crucial role in the financial market by facilitating capital flow and supporting economic growth through its lending and financial advisory services. As one of the largest banks in the United States, PNC continues to expand its footprint and enhance customer satisfaction through technology-driven innovations and strategic growth initiatives.