Dontá L. Wilson
TRUIST FINANCIALAbout Dontá L. Wilson
Senior Executive Vice President and Chief Consumer & Small Business Banking Officer at Truist (TFC), appointed November 14, 2023. He leads consumer, premier, and small business segments across mobile/online platforms and 2,000+ branches, overseeing core deposits/loans, consumer capital markets, enterprise marketing, client experience, and digital innovation . Company performance in 2024 included EPS of $3.81, TBVPS + dividend growth of 47%, CET1 ratio of 11.5%, and One-Year TSR of 23.7% ; Consumer & Small Business Banking delivered 103,700 net new checking accounts and 323 million annual digital transactions under his leadership . Wilson also serves on boards of Signet Jewelers, UNC Charlotte, and Samaritan’s Feet .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Truist Financial Corporation | Senior EVP & Chief Consumer & Small Business Banking Officer | Nov 2023–Present | Leads consumer, premier, and small business segments; oversees core deposit/loan products, consumer capital markets, client experience strategy, digital banking and innovation across 2,000+ branches and virtual centers |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Signet Jewelers | Director | Not disclosed | Retail/consumer insights and governance experience |
| University of North Carolina at Charlotte | Board of Trustees | Not disclosed | Higher education governance and community engagement |
| Samaritan’s Feet | Board Member | Not disclosed | Non-profit leadership and community impact |
Fixed Compensation
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Base Salary ($) | 656,250 | 695,833 | 750,000 |
| Target AIP (% of Base) | Not disclosed | Not disclosed | 215% |
| AIP Paid ($) | 1,437,459 | 993,454 | 1,798,441 |
- 12/18/2023 comp framework set effective 1/1/2024: base $750,000, AIP target 215%, long-term incentive target 485% of base (195% PSUs, 121% cash LTIP, 169% RSUs), total annual target compensation $6,000,000 .
Performance Compensation
Annual Incentive Performance (AIP) – Structure and 2024 Results
- Corporate scorecard emphasizes EPS, PPNR, TBVPS + dividends, adjusted NIE, CET1, and One-Year TSR; plus strategic priorities (risk management, TIH divestiture & balance sheet repositioning, franchise momentum, expense discipline, communities/teammates). Corporate AIP funded at 107.5% of target for 2024 .
| Financial Metric | 2024 Result | Committee Assessment |
|---|---|---|
| EPS (As-adjusted) ($) | 3.81 | Exceeded (110–150%) |
| PPNR ($mm) | 8,811 | At (90–110%) |
| TBVPS + Dividend Growth (%) | 47.0 | At (90–110%) |
| Adjusted NIE ($mm) | 11,330 | Exceeded (110–150%) |
| CET1 Ratio (%) | 11.5 | Exceeded (110–150%) |
| One-Year TSR (%) | 23.7 | Below (70–90%) |
| Executive | Base ($) | Target AIP (% of Base) | AIP Award (% of Target) | AIP Award ($) |
|---|---|---|---|---|
| Dontá L. Wilson | 750,000 | 215 | 111.53 | 1,798,441 |
Long-Term Incentive Awards – 2024 Grants and Design
- 2024–2026 PSU/LTIP metrics: 75% absolute EPS (3-year cumulative), 25% relative EPS growth (annual vs peers); TSR modifier ±20ppts; CET1 minimum capital requirement . RSUs vest over four years: one-third each March 15 of years 2–4; subject to forfeiture for operating loss or significant negative risk outcome .
| Award | Grant Date | Units (Target) | Grant-Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| PSUs (Annual) | 2/26/2024 | 42,354 | 1,258,761 | 3-year cliff (2024–2026); TSR modifier/CET1 requirement |
| RSUs (Annual) | 2/26/2024 | 36,707 | 1,054,959 | One-third on 3/15/2026, 3/15/2027, 3/15/2028 |
| PSUs (One-time Leadership Award) | 9/03/2024 | 101,763 | 4,099,014 | 3-year cliff to 8/31/2027; payout 75–125% based on TSR vs BKX and CET1 each year |
- Total 2024 long-term awards at target: PSUs $5,357,775; LTIP $907,500; RSUs $1,054,959 .
Equity Ownership & Alignment
| Ownership Metric | Value |
|---|---|
| Shares of Common Stock Beneficially Owned (Direct/Indirect) | 45,829 |
| Shares Subject to Right to Acquire within 60 Days (RSUs/PSUs) | 29,786 |
| Total Beneficial Ownership | 75,615 |
| Pledged Shares | None (hedging/pledging prohibited; none held) |
| Outstanding Equity at FY-End (12/31/2024) | Units | Value ($) |
|---|---|---|
| Unvested RSUs | 15,419 | 668,876 |
| Unearned PSUs (Unvested) | 220,983 | 9,586,243 |
- Stock ownership guidelines: 3x base salary for executive officers; executives must meet within 5 years or via continuous holding of granted shares/RSUs; all executives met or are within grace period as of 12/31/2024 .
- Hedging/pledging policy: Prohibits hedging, short sales, and pledging for directors and execs; none of the directors/executives have pledged or hedged Truist shares .
Deferred Compensation and Pension
| Non-Qualified Deferred Compensation (2024) | Exec Contributions ($) | Company Match ($) | Earnings ($) | 12/31/2024 Balance ($) |
|---|---|---|---|---|
| Dontá L. Wilson | 90,807 | 84,532 | 209,962 | 1,866,196 |
| Pension Benefits (12/31/2024) | Credited Service (Years) | Present Value – Qualified ($) | Present Value – Non-Qualified ($) |
|---|---|---|---|
| Dontá L. Wilson | 26 | 827,923 | 3,679,353 |
Employment Terms
- Severance Plan (covers executive officers): upon qualifying termination (other than for Cause or for Good Reason), lump sum equal to 2x (base salary + target bonus) and a lump sum equal to 24× monthly COBRA premium less employee portion; non-compete (12 months, US-wide against direct banking/financial competitors), non-solicit (12 months), and 3-month garden leave for resignations; change of control provisions apply with double trigger (termination within 24 months after change of control) and 280G cutback if beneficial .
| Potential Payments (Assumed Termination on 12/31/2024) | Death/Disability ($) | Other than Cause or for Good Reason ($) | Qualifying Termination following Change of Control ($) |
|---|---|---|---|
| Severance | — | 4,725,000 | 4,725,000 |
| Pro-Rata Bonus (AIP) | 1,798,441 | 1,798,441 | 1,798,441 |
| LTIP | 1,385,444 | 1,385,444 | 1,385,444 |
| PSUs | 7,951,337 | 7,951,337 | 7,951,337 |
| RSUs | 3,004,108 | 3,004,108 | 3,004,108 |
| Welfare Benefits | — | 41,738 | 41,738 |
| Total | 14,139,330 | 18,906,068 | 18,906,068 |
- Clawbacks: Mandatory recoupment for financial restatements under Executive Compensation Recoupment Policy; broader clawback rights under the 2022 Incentive Plan for misconduct, materially inaccurate metrics, or significant negative risk outcomes .
Performance & Track Record
- 2024 execution included divestiture of Truist Insurance Holdings and strategic balance-sheet repositioning (reinvested $39.4B; improved interest-rate risk position), adding 230 bps CET1 and +33% TBVPS, and authorized up to $5B share repurchases; returned $3.8B to shareholders (76% of adjusted net income) .
- Consumer & Small Business Banking performance: 103,700 net new checking accounts; largest increase in consumer satisfaction among national/super-regional banks in J.D. Power study; 323M digital transactions .
- 2025 strategic growth plan announced: 100 new insights-driven branches, 300+ renovations, enhanced digital experiences, and expanded Premier advisors; Wilson emphasized AI-driven digital insights and tailored advice to deepen client relationships .
Compensation Peer Group (Pay and Performance Benchmarks)
| Company | Assets ($bn) | Market Cap ($bn) |
|---|---|---|
| JPMorgan Chase | 4,003 | 675 |
| Bank of America | 3,262 | 337 |
| Wells Fargo | 1,930 | 234 |
| U.S. Bancorp | 678 | 75 |
| PNC Financial | 560 | 77 |
| Truist | 531 | 58 |
| Citizens Financial | 218 | 19 |
| Fifth Third | 213 | 28 |
| M&T | 208 | 31 |
| KeyCorp | 187 | 19 |
| Regions | 157 | 21 |
- The committee uses judgment rather than a fixed percentile target, given size dispersion among peers .
Say-on-Pay & Shareholder Feedback
- 2024 say-on-pay support: ~89% of votes cast; fall 2024 engagement covered executive comp changes and one-time leadership awards; enhanced proxy disclosures based on investor feedback .
Risk Indicators & Red Flags
- No stock options granted; no option repricing; no excise tax gross-ups; hedging/pledging prohibited and none outstanding for executives .
- Related person transactions: none requiring disclosure beyond ordinary-course interactions; oversight via Related Person Transactions Policy .
- Leadership Awards (one-time PSUs) to Wilson and CFO reflect targeted retention during transformation; payouts subject to capital requirements, TSR performance, and risk-adjustment discretion .
Investment Implications
- Strong pay-for-performance alignment: Wilson’s 2024 AIP and sizable PSU/LTIP weighting tie outcomes to EPS, TSR, capital strength, and risk controls, with robust clawback and risk-adjustment frameworks; ownership guidelines and no pledging/hedging improve alignment .
- Retention dynamics: The $4.5M one-time PSU award and elevated long-term targets signal Truist’s intent to retain Wilson through 2027; high unvested PSU/RSU value ($10.25M+) creates vesting overhang but also alignment with TSR and capital discipline .
- Severance economics (2x salary+target bonus; double-trigger CIC) and 12-month non-compete/non-solicit reduce sudden-departure risk but imply meaningful change-of-control value; investors should monitor TSR vs BKX and CET1 levels that govern Leadership Award payouts .