PNC said the Board of Directors appointed Mark Wiedman as President on April 3, 2025, announced it on April 7, 2025, and that the appointment took effect the same day.

1. 01

   PNC said the Board of Directors appointed Mark Wiedman as President on April 3, 2025, announced it on April 7, 2025, and that the appointment took effect the same day.

2. 02

   The company said Wiedman has been head of BlackRock's Global Client Business since January 2023. It said PNC's primary operating lines of business and the Regional Presidents Office report to him, and that he reports to Chairman and Chief Executive Officer William S. Demchak.

3. 03

   Under the offer letter, PNC said it will pay Wiedman an annual base salary of $700,000 and a signing bonus of $1,000,000. It also said that at the next grant opportunity he will receive a one-time award of restricted share units with a grant date value of $3,120,000 and performance share units of $2,080,000 (at target).

4. 04

   PNC said Wiedman's target total annual incentive for the 2025 performance year is $9,800,000 on a full-year basis ($7,350,000 prorated). Assuming a 35% cash and 65% long-term equity split, it said his prorated target annual cash incentive is $2,231,250.

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