What is the new executive incentive compensation plan, and who is eligible?

The company's Board's Personnel and Compensation Committee approved the eligibility for certain executive officers to receive annual incentive awards for fiscal year 2014 under The PNC Financial Services Group, Inc. 1996 Executive Incentive Award Plan. The eligible participants are the Chief Executive Officer and the three most highly compensated executive officers, excluding the Chief Financial Officer.

How is the executive incentive award calculated, and when will it be paid?

The maximum annual incentive award for each eligible participant is set at 0.2% of the company's 'Incentive Income' for fiscal year 2014, which is defined as adjusted consolidated net income. While this is the maximum, the Committee may make a downward adjustment. The awards will be payable in the first quarter of 2015 and can be in cash, equity, or a combination thereof.

PNC 8-K: Earnings & Results & Leadership Changes

Q: Where can I find the full 2013 financial results for PNC?

PNC Financial Services Group, Inc. has made its 2013 Form 10-K and its 2013 Annual Report, including a CEO Letter to Shareholders and financial highlights, available on its website at www.pnc.com/secfilings and www.pnc.com/investorrelations.

Summary

This 8-K filing from PNC Financial Services Group, Inc., dated March 3, 2014, primarily informs investors about the company's 2013 Annual Report and details regarding executive incentive compensation for fiscal year 2014. The company has made its 2013 Form 10-K and Annual Report, including a CEO Letter to Shareholders and financial highlights, available on its website. These documents provide a comprehensive overview of PNC's performance and financial condition for the past fiscal year. Additionally, the filing discloses that the Board's Personnel and Compensation Committee has approved the eligibility of certain executive officers for annual incentive awards under a 1996 plan. Specifically, the CEO and three other highly compensated officers (excluding the CFO) are eligible, with a maximum award tied to a percentage of "Incentive Income" (adjusted net income). These awards, payable in cash, equity, or a combination, are subject to potential downward adjustments by the Committee and will be paid in the first quarter of 2015.

Key Highlights

1PNC Financial Services Group, Inc. filed its 2013 Form 10-K and 2013 Annual Report on its investor relations website.
2The 2013 Annual Report includes the CEO Letter to Shareholders and financial highlights, which are also furnished as an exhibit to this 8-K.
3The company's Board Personnel and Compensation Committee approved eligibility for 2014 annual incentive awards for certain executive officers.
4Eligible participants include the CEO and the three most highly compensated executive officers (excluding the CFO).
5Maximum annual incentive awards are capped at 0.2% of 'Incentive Income' for fiscal year 2014.
6Incentive Income is defined as consolidated net income with specific adjustments for taxes, extraordinary items, and other factors, including an adjustment for the obligation to fund BlackRock long-term incentives.
7Awards will be payable in the first quarter of 2015, denominated in cash, equity, or a combination, and are subject to potential downward adjustments by the Committee.

PNC FINANCIAL SERVICES GROUP, INC. 8-K Report, Financial Results (Mar 3, 2014)

Summary

Key Highlights

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