PNC Financial Services Group, Inc.
PNC Financial Services Adopts Executive Severance Plan
Summary
The PNC Financial Services Group, Inc. has adopted an Executive Severance Plan, effective as of March 21, 2025. This plan provides certain employees, including named executive officers, with payments and benefits upon specified terminations of employment. The plan was developed to offer a standardized framework for severance arrangements and does not supersede existing change in control agreements. It requires participating executives to provide 60 days' notice before resigning. Severance benefits include continuation of base salary for 52 weeks, prorated annual cash incentive award, continued vesting of equity awards, and COBRA premium contributions. The plan is outlined in Exhibit 10.1 and is subject to the terms and conditions described therein.
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Exhibits (1)
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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.
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