AI English summary of an SEC filing — figures as filed

PNC said the Human Resources Committee on May 20, 2024 approved raising Michael Lyons’ 2024 target total compensation from $9,000,000 to $10,500,000 in connection with his appointment as President of PNC.

8-K/ADeparture or Appointment of Directors or Certain Officers (amended)Amended filingFiled May 24, 2024Period of report Feb 16, 2024Summary published (UTC) Oct 26, 2026

Key points

AI summary

PNC said the Human Resources Committee on May 20, 2024 approved raising Michael Lyons’ 2024 target total compensation from $9,000,000 to $10,500,000 in connection with his appointment as President of PNC.
The company said the increase to Mr. Lyons’ 2024 target total compensation takes effect on February 16, 2024. The approval was made on May 20, 2024.
The company said the Human Resources Committee approved a total compensation pay mix for Mr. Lyons of long-term incentive compensation at 65% and cash compensation at 35%.
The company said it did not change Mr. Lyons' annual base salary of $700,000. It explained that the 8-K/A supplements Item 5.02(c)(3) information that had not been determined when the Original 8-K was filed on February 20, 2024, and that no other changes were made.

Summary

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Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Raises Lyons’ 2024 Target Total Compensation from $9,000,000 to $10,500,000

PNC said the Human Resources Committee on May 20, 2024 approved raising Michael Lyons’ 2024 target total compensation from $9,000,000 to $10,500,000 in connection with his appointment as President of PNC.

Source · Based on the filing body and exhibits

Effective Date of Increased Target Total Compensation: February 16, 2024

The company said the increase to Mr. Lyons’ 2024 target total compensation takes effect on February 16, 2024. The approval was made on May 20, 2024.

Source · Based on the filing body and exhibits

Total Compensation Mix: Long-Term Incentive 65%, Cash 35%

The company said the Human Resources Committee approved a total compensation pay mix for Mr. Lyons of long-term incentive compensation at 65% and cash compensation at 35%.

Source · Based on the filing body and exhibits

Annual Base Salary of $700,000 Unchanged; Purpose of This 8-K/A Amendment

The company said it did not change Mr. Lyons' annual base salary of $700,000. It explained that the 8-K/A supplements Item 5.02(c)(3) information that had not been determined when the Original 8-K was filed on February 20, 2024, and that no other changes were made.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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