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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay versus performance
In accordance with regulations adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we are providing the following disclosures regarding executive compensation for our principal executive officer (“PEO”) and
Non-PEO
named executive officers
(“Non-PEO
NEOs”) and company performance for the fiscal years listed below.
We have identified
one-year
adjusted ROE (“Adjusted ROE”) as our Company-Selected Measure (“CSM”). In our view, Adjusted ROE represents the most important financial performance measure (not otherwise required to be disclosed in the table) used to link compensation actually paid (“CAP”) to our NEOs for the 2024 fiscal year to company performance. We chose Adjusted ROE as our CSM for evaluating pay versus performance because it is a key metric in our PSU awards under our long-term incentive program. See “Compensation Discussion and Analysis—Our compensation program—Evaluating performance” in this proxy statement for a discussion of the metrics used by the HR Committee to evaluate performance. Our long-term incentive program and Adjusted ROE are described in more detail in “Compensation Discussion and Analysis—Our compensation program—Incentive compensation program” in this proxy statement.
 
                                 
 Value of Initial Fixed $100 
Investment based on:
(4)
              
 Year
  
Summary
Compensation
Table Total
for PEO
(1)
($)
    
Compensation
Actually
Paid to
PEO
(1)(2)(3)
($)
    
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs
(1)
    
Average
CAP to
Non-PEO
NEOs
(1)(2)(3)
           
TSR
($)
    
2023 Peer
Group
TSR*
($)
    
2024 Peer
Group
TSR**
($)
    
Net Income
(in millions)
($)
    
Adjusted ROE
(5)
  
 (a) 
  
(b)
    
(c)
    
(d)
    
(e)
           
(f)
    
(g1)
    
(g2)
    
(h)
    
(i)
  
 2024
  
 
22,352,785
 
  
 
33,453,083
 
  
 
6,732,800
 
  
 
10,941,926
 
  
 
 
 
  
$
 145.5
 
  
$
 144.7
 
  
$
 132.6
 
  
 
5,953
 
  
 
10.94%
 
 2023
  
 
19,950,306
 
  
 
20,752,986
 
  
 
7,359,582
 
  
 
7,251,664
 
  
 
 
 
  
$
112.4
 
  
$
104.7
 
  
$
96.7
 
  
 
5,647
 
  
 
11.66%
 
 2022
  
 
20,197,045
 
  
 
19,142,607
 
  
 
12,315,312
 
  
 
12,400,133
 
  
 
 
 
  
$
109.5
 
  
$
94.4
 
  
$
97.5
 
  
 
6,113
 
  
 
12.59%
 
 2021
  
 
17,506,270
 
  
 
26,625,622
 
  
 
7,940,191
 
  
 
11,637,177
 
  
 
 
 
  
$
134.4
 
  
$
116.8
 
  
$
124.1
 
  
 
5,725
 
  
 
9.59%
 
 2020
  
 
15,879,053
 
  
 
13,080,702
 
  
 
6,890,142
 
  
 
5,608,478
 
  
 
 
 
  
$
97.3
 
  
$
86.2
 
  
$
89.7
 
  
 
7,558
 
  
 
9.39%
 
*
“2023 Peer Group TSR” represents the cumulative TSR measured from 12/31/2019 through the end of each year shown for the S&P 500 Banks index (“S&P 500 Banks”). As described in the footnote below, PNC used the KBW index (“KBW”) in place of the S&P 500 Banks for the year ended December 31, 2024. The 2024 Form 10-K includes both S&P 500 Banks and KBW in the Common Stock Performance Graph and table for comparative purposes.
**
“2024 Peer Group TSR” represents the cumulative TSR measured from 12/31/2019 through the end of each year shown for KBW. PNC specifically changed its Peer Group to this index because it is used by the majority of our peers and includes banking stocks representing the 24 leading national money centers, regional banks and thrift institutions.
 
(1)
William S. Demchak was our PEO for each year presented. The individuals comprising the
Non-PEO
NEOs for each year presented are:
2020: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III and Karen L. Larrimer
2021: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III and Karen L. Larrimer
2022: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III, Karen L. Larrimer and Gregory B. Jordan
2023: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III and Deborah Guild
2024: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III Deborah Guild and Alexander E. C. Overstrom
 
(2)
CAP amounts shown have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized or received by the NEOs.
 
(3)
CAP reflects the Summary compensation table totals for our NEOs, as adjusted for certain amounts as set forth below. Amounts in the “Exclusion of Stock Awards” columns below are based on the totals from the “Stock Awards” column of the Summary compensation table. Amounts in the “Exclusion of Change in Pension Value” columns below reflect the amounts attributable to the change in pension value reported in the Summary compensation table. Amounts in the “Inclusion of Pension Service Cost” columns below are based on the service cost for services rendered during the listed year.
 
Year
  
Summary
Compensation
Table Total for
PEO
($)
    
Exclusion of
Change in
Pension Value for
PEO
($)
    
Exclusion of
Stock Awards for
PEO
($)
    
Inclusion of
Pension Service
Cost for PEO
($)
    
Inclusion of
Equity Values for
PEO
($)
    
Compensation
Actually Paid
to PEO
($)
  
2024
  
 
22,352,785
 
  
 
(950,809
) 
  
 
(13,090,041
) 
  
 
342,434
 
  
 
24,798,714
 
  
 
33,453,083
 
2023
  
 
19,950,306
 
  
 
(792,588
) 
  
 
(12,750,115
) 
  
 
377,527
 
  
 
13,967,856
 
  
 
20,752,986
 
2022
  
 
20,197,045
 
  
 
—
 
  
 
(15,000,015
) 
  
 
370,608
 
  
 
13,574,969
 
  
 
19,142,607
 
2021
  
 
17,506,270
 
  
 
(338,606
) 
  
 
(12,000,025
) 
  
 
478,826
 
  
 
20,979,157
 
  
 
26,625,622
 
2020
  
 
15,879,053
 
  
 
(1,399,380
) 
  
 
(10,320,237
) 
  
 
393,939
 
  
 
8,527,327
 
  
 
13,080,702
 
 
PAY VERSUS PERFORMANCE
 
Year
   
Average
Summary
Compensation
Table Total for
Non-PEO NEOs

($)
     
Average
Exclusion of
Change in
Pension Value for
Non-PEO
NEOs
($)
     
Average
Exclusion of
Stock Awards for
Non-PEO NEOs

($)
     
Average
Inclusion of
Pension Service
Cost for Non-
PEO NEOs
($)
     
Average
Inclusion of
Equity Values for
Non-PEO
NEOs
($)
     
Average
Compensation
Actually Paid to
Non-PEO
NEOs
($)
  
2024
   
 
6,732,800
 
   
 
138,914
 
   
 
(3,587,642
) 
   
 
60,485
 
   
 
8,192,013
 
   
 
10,941,926
 
2023
   
 
7,359,582
 
   
 
(179,416
) 
   
 
(4,296,382
) 
   
 
71,325
 
   
 
4,296,555
 
   
 
7,251,664
 
2022
   
 
12,315,312
 
   
 
(15,249
) 
   
 
(9,598,689
) 
   
 
65,950
 
   
 
9,632,808
 
   
 
12,400,133
 
2021
   
 
7,940,191
 
   
 
(95,657
) 
   
 
(4,165,160
) 
   
 
83,017
 
   
 
7,874,785
 
   
 
11,637,177
 
2020
   
 
6,890,142
 
   
 
(299,797
) 
   
 
(3,927,655
) 
   
 
73,084
 
   
 
2,872,704
 
   
 
5,608,478
 
The amounts in the “Inclusion of Equity Values” columns above are derived from the amounts set forth in the following tables:
 
Year
  
Year-End Fair

Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for PEO
($)
    
Change in Fair
Value from Last
Day of Prior
Year to Last Day
of Year of
Unvested
Equity Awards
for PEO
($)
     
Vesting-Date

Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
PEO
($)
    
Change in Fair
Value from Last
Day of Prior
Year to Vesting
Date of
Unvested
Equity Awards
that Vested
During Year for
PEO
($)
     
Fair Value at
Last Day of
Prior Year of
Equity Awards
Forfeited During
Year for PEO
($)
     
Value of
Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
PEO
($)
     
Total - Inclusion

of
Equity Values
for PEO
($)
  
2024
  
 
18,762,856
 
  
 
6,567,636
 
   
 
—
 
  
 
(531,879
) 
   
 
—
 
   
 
—
 
   
 
24,798,714
 
2023
  
 
13,438,135
 
  
 
194,909
 
   
 
—
 
  
 
334,812
 
   
 
—
 
   
 
—
 
   
 
13,967,856
 
2022
  
 
12,123,506
 
  
 
(944,686
) 
   
 
—
 
  
 
2,396,149
 
   
 
—
 
   
 
—
 
   
 
13,574,969
 
2021
  
 
13,081,706
 
  
 
6,461,296
 
   
 
—
 
  
 
1,436,155
 
   
 
—
 
   
 
—
 
   
 
20,979,157
 
2020
  
 
8,584,874
 
  
 
70,776
 
   
 
—
 
  
 
(128,323
) 
   
 
—
 
   
 
—
 
   
 
8,527,327
 
Year
  
Average Year
End Fair Value
of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for
Non-PEO

NEOs
($)
    
Average
Change in Fair
Value from Last
Day of Prior
Year to Last Day
of Year of
Unvested
Equity Awards
for
Non-PEO

NEOs
($)
     
Average
Vesting-Date

Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
Non-PEO
NEOs
($)
    
 
Average
Change in Fair
Value from Last
Day of Prior
Year to Vesting
Date of
Unvested
Equity Awards
that Vested
During Year for
Non-PEO
NEOs
($)
     
Average Fair
Value at Last
Day of Prior
Year of Equity
Awards
Forfeited During
Year for Non
PEO NEOs
($)
     
Average Value
of Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
Non-PEO
NEOs
($)
     
Total - Average

Inclusion of
Equity Values
for
Non-PEO

NEOs
($)
  
2024
  
 
5,152,092
 
  
 
3,201,294
 
   
 
—
 
  
 
(161,373
) 
   
 
—
 
   
 
—
 
   
 
8,192,013
 
2023
  
 
4,453,842
 
  
 
(174,429
) 
   
 
—
 
  
 
17,142
 
   
 
—
 
   
 
—
 
   
 
4,296,555
 
2022
  
 
9,201,403
 
  
 
(504,672
) 
   
 
—
 
  
 
936,077
 
   
 
—
 
   
 
—
 
   
 
9,632,808
 
2021
  
 
4,773,399
 
  
 
2,545,225
 
   
 
—
 
  
 
556,161
 
   
 
—
 
   
 
—
 
   
 
7,874,785
 
2020
  
 
3,439,287
 
  
 
(322,598
) 
   
 
—
 
  
 
(243,985
) 
   
 
—
 
   
 
—
 
   
 
2,872,704
 
 
(4)
The comparison assumes $100 was invested for the period starting December 31, 2019 through the last business day of the listed year, for each of PNC and the S&P 500 Banks and KBW.
 
(5)
Adjusted ROE
is a
non-GAAP
financial measure. See Annex A for a reconciliation of
non-GAAP
financial measures to GAAP and for additional information about the adjustments to GAAP measures.
       
Company Selected Measure Name Adjusted ROE        
Named Executive Officers, Footnote
(1)
William S. Demchak was our PEO for each year presented. The individuals comprising the
Non-PEO
NEOs for each year presented are:
2020: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III and Karen L. Larrimer
2021: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III and Karen L. Larrimer
2022: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III, Karen L. Larrimer and Gregory B. Jordan
2023: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III and Deborah Guild
2024: Robert Q. Reilly, Michael P. Lyons, E William Parsley, III Deborah Guild and Alexander E. C. Overstrom
       
Peer Group Issuers, Footnote The comparison assumes $100 was invested for the period starting December 31, 2019 through the last business day of the listed year, for each of PNC and the S&P 500 Banks and KBW.        
Changed Peer Group, Footnote 2024 Peer Group TSR” represents the cumulative TSR measured from 12/31/2019 through the end of each year shown for KBW. PNC specifically changed its Peer Group to this index because it is used by the majority of our peers and includes banking stocks representing the 24 leading national money centers, regional banks and thrift institutions.        
PEO Total Compensation Amount $ 22,352,785 $ 19,950,306 $ 20,197,045 $ 17,506,270 $ 15,879,053
PEO Actually Paid Compensation Amount $ 33,453,083 20,752,986 19,142,607 26,625,622 13,080,702
Adjustment To PEO Compensation, Footnote
(2)
CAP amounts shown have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized or received by the NEOs.
 
(3)
CAP reflects the Summary compensation table totals for our NEOs, as adjusted for certain amounts as set forth below. Amounts in the “Exclusion of Stock Awards” columns below are based on the totals from the “Stock Awards” column of the Summary compensation table. Amounts in the “Exclusion of Change in Pension Value” columns below reflect the amounts attributable to the change in pension value reported in the Summary compensation table. Amounts in the “Inclusion of Pension Service Cost” columns below are based on the service cost for services rendered during the listed year.
 
Year
  
Summary
Compensation
Table Total for
PEO
($)
    
Exclusion of
Change in
Pension Value for
PEO
($)
    
Exclusion of
Stock Awards for
PEO
($)
    
Inclusion of
Pension Service
Cost for PEO
($)
    
Inclusion of
Equity Values for
PEO
($)
    
Compensation
Actually Paid
to PEO
($)
  
2024
  
 
22,352,785
 
  
 
(950,809
) 
  
 
(13,090,041
) 
  
 
342,434
 
  
 
24,798,714
 
  
 
33,453,083
 
2023
  
 
19,950,306
 
  
 
(792,588
) 
  
 
(12,750,115
) 
  
 
377,527
 
  
 
13,967,856
 
  
 
20,752,986
 
2022
  
 
20,197,045
 
  
 
—
 
  
 
(15,000,015
) 
  
 
370,608
 
  
 
13,574,969
 
  
 
19,142,607
 
2021
  
 
17,506,270
 
  
 
(338,606
) 
  
 
(12,000,025
) 
  
 
478,826
 
  
 
20,979,157
 
  
 
26,625,622
 
2020
  
 
15,879,053
 
  
 
(1,399,380
) 
  
 
(10,320,237
) 
  
 
393,939
 
  
 
8,527,327
 
  
 
13,080,702
 
The amounts in the “Inclusion of Equity Values” columns above are derived from the amounts set forth in the following tables:
 
Year
  
Year-End Fair

Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for PEO
($)
    
Change in Fair
Value from Last
Day of Prior
Year to Last Day
of Year of
Unvested
Equity Awards
for PEO
($)
     
Vesting-Date

Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
PEO
($)
    
Change in Fair
Value from Last
Day of Prior
Year to Vesting
Date of
Unvested
Equity Awards
that Vested
During Year for
PEO
($)
     
Fair Value at
Last Day of
Prior Year of
Equity Awards
Forfeited During
Year for PEO
($)
     
Value of
Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
PEO
($)
     
Total - Inclusion

of
Equity Values
for PEO
($)
  
2024
  
 
18,762,856
 
  
 
6,567,636
 
   
 
—
 
  
 
(531,879
) 
   
 
—
 
   
 
—
 
   
 
24,798,714
 
2023
  
 
13,438,135
 
  
 
194,909
 
   
 
—
 
  
 
334,812
 
   
 
—
 
   
 
—
 
   
 
13,967,856
 
2022
  
 
12,123,506
 
  
 
(944,686
) 
   
 
—
 
  
 
2,396,149
 
   
 
—
 
   
 
—
 
   
 
13,574,969
 
2021
  
 
13,081,706
 
  
 
6,461,296
 
   
 
—
 
  
 
1,436,155
 
   
 
—
 
   
 
—
 
   
 
20,979,157
 
2020
  
 
8,584,874
 
  
 
70,776
 
   
 
—
 
  
 
(128,323
) 
   
 
—
 
   
 
—
 
   
 
8,527,327
 
Year
  
Average Year
End Fair Value
of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for
Non-PEO

NEOs
($)
    
Average
Change in Fair
Value from Last
Day of Prior
Year to Last Day
of Year of
Unvested
Equity Awards
for
Non-PEO

NEOs
($)
     
Average
Vesting-Date

Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
Non-PEO
NEOs
($)
    
 
Average
Change in Fair
Value from Last
Day of Prior
Year to Vesting
Date of
Unvested
Equity Awards
that Vested
During Year for
Non-PEO
NEOs
($)
     
Average Fair
Value at Last
Day of Prior
Year of Equity
Awards
Forfeited During
Year for Non
PEO NEOs
($)
     
Average Value
of Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
Non-PEO
NEOs
($)
     
Total - Average

Inclusion of
Equity Values
for
Non-PEO

NEOs
($)
  
2024
  
 
5,152,092
 
  
 
3,201,294
 
   
 
—
 
  
 
(161,373
) 
   
 
—
 
   
 
—
 
   
 
8,192,013
 
2023
  
 
4,453,842
 
  
 
(174,429
) 
   
 
—
 
  
 
17,142
 
   
 
—
 
   
 
—
 
   
 
4,296,555
 
2022
  
 
9,201,403
 
  
 
(504,672
) 
   
 
—
 
  
 
936,077
 
   
 
—
 
   
 
—
 
   
 
9,632,808
 
2021
  
 
4,773,399
 
  
 
2,545,225
 
   
 
—
 
  
 
556,161
 
   
 
—
 
   
 
—
 
   
 
7,874,785
 
2020
  
 
3,439,287
 
  
 
(322,598
) 
   
 
—
 
  
 
(243,985
) 
   
 
—
 
   
 
—
 
   
 
2,872,704
 
        
Non-PEO NEO Average Total Compensation Amount $ 6,732,800 7,359,582 12,315,312 7,940,191 6,890,142
Non-PEO NEO Average Compensation Actually Paid Amount $ 10,941,926 7,251,664 12,400,133 11,637,177 5,608,478
Adjustment to Non-PEO NEO Compensation Footnote
(2)
CAP amounts shown have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned, realized or received by the NEOs.
 
(3)
CAP reflects the Summary compensation table totals for our NEOs, as adjusted for certain amounts as set forth below. Amounts in the “Exclusion of Stock Awards” columns below are based on the totals from the “Stock Awards” column of the Summary compensation table. Amounts in the “Exclusion of Change in Pension Value” columns below reflect the amounts attributable to the change in pension value reported in the Summary compensation table. Amounts in the “Inclusion of Pension Service Cost” columns below are based on the service cost for services rendered during the listed year.
Year
   
Average
Summary
Compensation
Table Total for
Non-PEO NEOs

($)
     
Average
Exclusion of
Change in
Pension Value for
Non-PEO
NEOs
($)
     
Average
Exclusion of
Stock Awards for
Non-PEO NEOs

($)
     
Average
Inclusion of
Pension Service
Cost for Non-
PEO NEOs
($)
     
Average
Inclusion of
Equity Values for
Non-PEO
NEOs
($)
     
Average
Compensation
Actually Paid to
Non-PEO
NEOs
($)
  
2024
   
 
6,732,800
 
   
 
138,914
 
   
 
(3,587,642
) 
   
 
60,485
 
   
 
8,192,013
 
   
 
10,941,926
 
2023
   
 
7,359,582
 
   
 
(179,416
) 
   
 
(4,296,382
) 
   
 
71,325
 
   
 
4,296,555
 
   
 
7,251,664
 
2022
   
 
12,315,312
 
   
 
(15,249
) 
   
 
(9,598,689
) 
   
 
65,950
 
   
 
9,632,808
 
   
 
12,400,133
 
2021
   
 
7,940,191
 
   
 
(95,657
) 
   
 
(4,165,160
) 
   
 
83,017
 
   
 
7,874,785
 
   
 
11,637,177
 
2020
   
 
6,890,142
 
   
 
(299,797
) 
   
 
(3,927,655
) 
   
 
73,084
 
   
 
2,872,704
 
   
 
5,608,478
 
The amounts in the “Inclusion of Equity Values” columns above are derived from the amounts set forth in the following tables:
 
Year
  
Year-End Fair

Value of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for PEO
($)
    
Change in Fair
Value from Last
Day of Prior
Year to Last Day
of Year of
Unvested
Equity Awards
for PEO
($)
     
Vesting-Date

Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
PEO
($)
    
Change in Fair
Value from Last
Day of Prior
Year to Vesting
Date of
Unvested
Equity Awards
that Vested
During Year for
PEO
($)
     
Fair Value at
Last Day of
Prior Year of
Equity Awards
Forfeited During
Year for PEO
($)
     
Value of
Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
PEO
($)
     
Total - Inclusion

of
Equity Values
for PEO
($)
  
2024
  
 
18,762,856
 
  
 
6,567,636
 
   
 
—
 
  
 
(531,879
) 
   
 
—
 
   
 
—
 
   
 
24,798,714
 
2023
  
 
13,438,135
 
  
 
194,909
 
   
 
—
 
  
 
334,812
 
   
 
—
 
   
 
—
 
   
 
13,967,856
 
2022
  
 
12,123,506
 
  
 
(944,686
) 
   
 
—
 
  
 
2,396,149
 
   
 
—
 
   
 
—
 
   
 
13,574,969
 
2021
  
 
13,081,706
 
  
 
6,461,296
 
   
 
—
 
  
 
1,436,155
 
   
 
—
 
   
 
—
 
   
 
20,979,157
 
2020
  
 
8,584,874
 
  
 
70,776
 
   
 
—
 
  
 
(128,323
) 
   
 
—
 
   
 
—
 
   
 
8,527,327
 
Year
  
Average Year
End Fair Value
of Equity
Awards Granted
During Year
That Remained
Unvested as of
Last Day of Year
for
Non-PEO

NEOs
($)
    
Average
Change in Fair
Value from Last
Day of Prior
Year to Last Day
of Year of
Unvested
Equity Awards
for
Non-PEO

NEOs
($)
     
Average
Vesting-Date

Fair Value of
Equity Awards
Granted During
Year that Vested
During Year for
Non-PEO
NEOs
($)
    
 
Average
Change in Fair
Value from Last
Day of Prior
Year to Vesting
Date of
Unvested
Equity Awards
that Vested
During Year for
Non-PEO
NEOs
($)
     
Average Fair
Value at Last
Day of Prior
Year of Equity
Awards
Forfeited During
Year for Non
PEO NEOs
($)
     
Average Value
of Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
Non-PEO
NEOs
($)
     
Total - Average

Inclusion of
Equity Values
for
Non-PEO

NEOs
($)
  
2024
  
 
5,152,092
 
  
 
3,201,294
 
   
 
—
 
  
 
(161,373
) 
   
 
—
 
   
 
—
 
   
 
8,192,013
 
2023
  
 
4,453,842
 
  
 
(174,429
) 
   
 
—
 
  
 
17,142
 
   
 
—
 
   
 
—
 
   
 
4,296,555
 
2022
  
 
9,201,403
 
  
 
(504,672
) 
   
 
—
 
  
 
936,077
 
   
 
—
 
   
 
—
 
   
 
9,632,808
 
2021
  
 
4,773,399
 
  
 
2,545,225
 
   
 
—
 
  
 
556,161
 
   
 
—
 
   
 
—
 
   
 
7,874,785
 
2020
  
 
3,439,287
 
  
 
(322,598
) 
   
 
—
 
  
 
(243,985
) 
   
 
—
 
   
 
—
 
   
 
2,872,704
 
        
Compensation Actually Paid vs. Total Shareholder Return
Description of Relationship Between PEO and
Non-PEO
NEO CAP and PNC TSR and Relationship Between PNC TSR and Peer Group TSR
The following graph sets forth the relationship between CAP for our PEO, the average of CAP for our
Non-PEO
NEOs and PNC’s cumulative TSR over the five most recently completed fiscal years. As reflected in the graph, CAP for all NEOs is generally aligned with PNC’s cumulative TSR over the period presented.
 
 
LOGO
 
*   Note the TSR above is indexed to an initial $100 investment for the period starting December 31, 2019 through the last business day of the listed year.
 
The graph below compares our cumulative TSR over the five most recently completed fiscal years to that of the S&P 500 Banks and KBW over the same period. As the graph reflects, our cumulative TSR over each of the five most recently completed fiscal years is above that of both indices for each year during the same period. Taken together with the graph above, this reflects alignment between our NEOs’ CAP as disclosed in the Pay versus performance table with both (i) PNC’s cumulative TSR and (ii) PNC’s performance with respect to cumulative TSR relative to the S&P 500 Banks and KBW over the same period.
 
 
LOGO 		       
Compensation Actually Paid vs. Net Income
Description of Relationship Between PEO and
Non-PEO
NEO CAP and Net Income
The following chart sets forth the relationship between CAP for our PEO, the average of CAP for our
Non-PEO
NEOs and our net income during the five most recently completed fiscal years. CAP for all NEOs is generally aligned with PNC’s net income for 2021-2024, although, since our PEO receives a larger proportion of his total annual compensation in the form of long-term equity-based incentive awards, the impact of the increase in stock price (e.g., 2021 and 2024) on our PEO’s CAP is more significant than the impact on the average Non-PEO NEO CAP for those years. In addition, CAP for all NEOs in 2020 appears much lower relative to our net income during 2020, which was impacted by PNC’s strategic sale of its 22.4% equity investment in BlackRock during 2020. This sale resulted in an
after-tax
gain on sale of $4.3 billion. In 2020, net income from continuing operations, which excluded the impact of the BlackRock sale, was $3.0 billion, reflecting closer alignment for the full period presented.
 
LOGO 		       
Compensation Actually Paid vs. Company Selected Measure
Description of Relationship Between PEO and
Non-PEO
NEO CAP and Adjusted ROE
The following chart sets forth the relationship between CAP for our PEO, the average of CAP for the
Non-PEO
NEOs and our Adjusted ROE (our CSM) during the five most recently completed fiscal years.
Similar to the graph above, CAP for all NEOs is generally aligned with PNC’s Adjusted ROE for 2021-2024, although, since our PEO receives a larger proportion of his total annual compensation in the form of long-term equity-based incentive awards, the impact of the increase in stock price (e.g., 2021 and 2024) on our PEO’s CAP is more significant than the impact on the average Non-PEO NEO CAP for those years. In addition, CAP for all NEOs in 2020 appears lower relative to our Adjusted ROE during 2020. For a discussion of how the HR Committee assessed our performance and our NEO pay for 2020, including the impact of the sale of our 22.4% equity investment in BlackRock during 2020, see the “Compensation Discussion and Analysis” section of our 2021 proxy statement.
 
 
LOGO 		       
Total Shareholder Return Vs Peer Group
Description of Relationship Between PEO and
Non-PEO
NEO CAP and PNC TSR and Relationship Between PNC TSR and Peer Group TSR
The following graph sets forth the relationship between CAP for our PEO, the average of CAP for our
Non-PEO
NEOs and PNC’s cumulative TSR over the five most recently completed fiscal years. As reflected in the graph, CAP for all NEOs is generally aligned with PNC’s cumulative TSR over the period presented.
 
 
LOGO
 
*   Note the TSR above is indexed to an initial $100 investment for the period starting December 31, 2019 through the last business day of the listed year.
 
The graph below compares our cumulative TSR over the five most recently completed fiscal years to that of the S&P 500 Banks and KBW over the same period. As the graph reflects, our cumulative TSR over each of the five most recently completed fiscal years is above that of both indices for each year during the same period. Taken together with the graph above, this reflects alignment between our NEOs’ CAP as disclosed in the Pay versus performance table with both (i) PNC’s cumulative TSR and (ii) PNC’s performance with respect to cumulative TSR relative to the S&P 500 Banks and KBW over the same period.
 
 
LOGO 		       
Tabular List, Table
Tabular List of Most Important Financial Performance Measures
The following table presents the financial performance measures that the Company considers to have been the most important in linking CAP to our PEO and
Non-PEO
NEOs for 2024 to company performance. The measures in this table are not ranked.
 
Measure
Adjusted ROE
Adjusted EPS
Annualized Three-Year TSR Rank vs. Peers
Annualized Five-Year TSR Rank vs. Peers
        
Total Shareholder Return Amount $ 145.5 112.4 109.5 134.4 97.3
Peer Group Total Shareholder Return Amount 144.7 104.7 94.4 116.8 86.2
Net Income (Loss) $ 5,953,000,000 $ 5,647,000,000 $ 6,113,000,000 $ 5,725,000,000 $ 7,558,000,000
Company Selected Measure Amount 0.1094 0.1166 0.1259 0.0959 0.0939
PEO Name William S. Demchak        
Peer Group Total Shareholder Return Amount 2024 132.6 96.7 97.5 124.1 89.7
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted ROE        
Non-GAAP Measure Description
Adjusted ROE
is a
non-GAAP
financial measure. See Annex A for a reconciliation of
non-GAAP
financial measures to GAAP and for additional information about the adjustments to GAAP measures. 		       
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted EPS        
Measure:: 3          
Pay vs Performance Disclosure          
Name Annualized Three-Year TSR Rank vs. Peers        
Measure:: 4          
Pay vs Performance Disclosure          
Name Annualized Five-Year TSR Rank vs. Peers        
PEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 24,798,714 $ 13,967,856 $ 13,574,969 $ 20,979,157 $ 8,527,327
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 18,762,856 13,438,135 12,123,506 13,081,706 8,584,874
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 6,567,636 194,909 (944,686) 6,461,296 70,776
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (531,879) 334,812 2,396,149 1,436,155 (128,323)
PEO | Exclusionof Change in PensionValue [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (950,809) (792,588) 0 (338,606) (1,399,380)
PEO | Exclusionof StockAwards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (13,090,041) (12,750,115) (15,000,015) (12,000,025) (10,320,237)
PEO | Inclusionof PensionService Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 342,434 377,527 370,608 478,826 393,939
Non-PEO NEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 8,192,013 4,296,555 9,632,808 7,874,785 2,872,704
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,152,092 4,453,842 9,201,403 4,773,399 3,439,287
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,201,294 (174,429) (504,672) 2,545,225 (322,598)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (161,373) 17,142 936,077 556,161 (243,985)
Non-PEO NEO | Exclusionof Change in PensionValue [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 138,914 (179,416) (15,249) (95,657) (299,797)
Non-PEO NEO | Exclusionof StockAwards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (3,587,642) (4,296,382) (9,598,689) (4,165,160) (3,927,655)
Non-PEO NEO | Inclusionof PensionService Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 60,485 $ 71,325 $ 65,950 $ 83,017 $ 73,084