{"component": "definition", "props": {"groups": [{"samples": [{"hash": "i2MKSu9xpIm", "uri": "/contracts/i2MKSu9xpIm#rotce", "label": "Restricted Stock Unit Award Agreement (Jpmorgan Chase & Co)", "score": 37.1177275838, "published": true}, {"hash": "6txjT3Ee2Es", "uri": "/contracts/6txjT3Ee2Es#rotce", "label": "Restricted Stock Unit Award Agreement (Jpmorgan Chase & Co)", "score": 36.1211509705, "published": true}, {"hash": "3S7XvBd7BHH", "uri": "/contracts/3S7XvBd7BHH#rotce", "label": "Restricted Stock Unit Award Agreement (Jpmorgan Chase & Co)", "score": 35.1245727539, "published": true}], "snippet": "means for the Firm and each of the Performance Companies a percentage derived by, for each year in the Performance Period, dividing (i) annual earnings from continuing operations less dividends on preferred stock as set forth in published financial disclosures by (ii) the Average Tangible Common Equity for the year. If, prior to the end of the vesting period, the Firm or any Performance Company restates its published financial statements for any year in the Performance Period, ROTCE for that year shall be recalculated for the Firm or Performance Company with the Performance Ranking adjusted, if necessary. This calculation is used solely for purposes of the Performance Ranking.", "snippet_links": [{"key": "the-firm", "type": "clause", "offset": [10, 18]}, {"key": "performance-companies", "type": "definition", "offset": [35, 56]}, {"key": "a-percentage", "type": "definition", "offset": [57, 69]}, {"key": "each-year", "type": "definition", "offset": [86, 95]}, {"key": "performance-period", "type": "clause", "offset": [103, 121]}, {"key": "annual-earnings", "type": "definition", "offset": [136, 151]}, {"key": "continuing-operations", "type": "definition", "offset": [157, 178]}, {"key": "dividends-on-preferred-stock", "type": "clause", "offset": [184, 212]}, {"key": "financial-disclosures", "type": "definition", "offset": [239, 260]}, {"key": "average-tangible-common-equity", "type": "definition", "offset": [273, 303]}, {"key": "the-year", "type": "definition", "offset": [308, 316]}, {"key": "prior-to-the", "type": "clause", "offset": [322, 334]}, {"key": "vesting-period", "type": "definition", "offset": [346, 360]}, {"key": "financial-statements", "type": "clause", "offset": [421, 441]}, {"key": "performance-ranking", "type": "clause", "offset": [569, 588]}, {"key": "for-purposes-of-the", "type": "clause", "offset": [645, 664]}], "size": 9, "hash": "7a77ef578f8b416327fdb038521b1bcf", "id": 1}, {"samples": [{"hash": "kkwW7Z2LfyM", "uri": "/contracts/kkwW7Z2LfyM#rotce", "label": "Performance Share Unit Award Agreement (Cit Group Inc)", "score": 28.2032852173, "published": true}, {"hash": "hDeeiHZtV5d", "uri": "/contracts/hDeeiHZtV5d#rotce", "label": "Performance Share Unit Award Agreement (Cit Group Inc)", "score": 28.2032852173, "published": true}, {"hash": "8XG9jbx6vd4", "uri": "/contracts/8XG9jbx6vd4#rotce", "label": "Performance Share Unit Award Agreement (Cit Group Inc)", "score": 28.2032852173, "published": true}], "snippet": "means the Company\u2019s return on average tangible common stockholder\u2019s equity and, for the purpose of this measure, equates to average Adjusted Net Income as a percentage of average Adjusted Tangible Common Equity for the Performance Period. The Committee, in its sole discretion, may adjust ROTCE to exclude special, unusual or non-recurring items that may be applicable during the Performance Period.", "snippet_links": [{"key": "the-company", "type": "definition", "offset": [6, 17]}, {"key": "common-stockholder", "type": "definition", "offset": [47, 65]}, {"key": "for-the-purpose-of-this", "type": "clause", "offset": [80, 103]}, {"key": "adjusted-net-income", "type": "definition", "offset": [132, 151]}, {"key": "a-percentage", "type": "definition", "offset": [155, 167]}, {"key": "adjusted-tangible-common-equity", "type": "definition", "offset": [179, 210]}, {"key": "the-committee", "type": "clause", "offset": [239, 252]}, {"key": "sole-discretion", "type": "definition", "offset": [261, 276]}, {"key": "during-the-performance-period", "type": "clause", "offset": [369, 398]}], "size": 8, "hash": "c55d14c10cab6aa727cd19681d326f44", "id": 2}, {"samples": [{"hash": "8dmmv47s2yM", "uri": "/contracts/8dmmv47s2yM#rotce", "label": 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reported on S&P Market Intelligence, Bloomberg or similar nationally recognized financial reporting aggregator if not available in the Peer Company\u2019s periodic filings with the SEC) as a percentage of average Tangible Common Equity.", "snippet_links": [{"key": "return-on-average-tangible-common-equity", "type": "definition", "offset": [6, 46]}, {"key": "for-purposes-of-this", "type": "clause", "offset": [52, 72]}, {"key": "for-company", "type": "clause", "offset": [94, 105]}, {"key": "operating-earnings", "type": "definition", "offset": [110, 128]}, {"key": "a-percentage", "type": "definition", "offset": [132, 144]}, {"key": "peer-company", "type": "definition", "offset": [198, 210]}, {"key": "tax-net-income", "type": "definition", "offset": [221, 235]}, {"key": "filings-with-the-sec", "type": "clause", "offset": [277, 297]}, {"key": "consistent-with-the", "type": "clause", "offset": [319, 338]}, {"key": "calculation-of", "type": "definition", "offset": [339, 353]}, {"key": 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otherwise publicly reported.", "snippet_links": [{"key": "return-on-tangible-common-equity", "type": "definition", "offset": [10, 42]}, {"key": "fiscal-year", "type": "clause", "offset": [52, 63]}, {"key": "performance-period", "type": "clause", "offset": [71, 89]}, {"key": "a-member-of-the", "type": "clause", "offset": [121, 136]}, {"key": "comparison-group", "type": "definition", "offset": [137, 153]}, {"key": "annual-report", "type": "definition", "offset": [156, 169]}, {"key": "form-10", "type": "clause", "offset": [173, 180]}], "size": 2, "hash": "652dc9fbfba40202b2f2c10010a6e4fb", "id": 6}, {"samples": [{"hash": "Dgpl6oKPmD", "uri": "/contracts/Dgpl6oKPmD#rotce", "label": "Performance Share Unit Award Agreement (Citigroup Inc)", "score": 35.8501014709, "published": true}, {"hash": "8zOy0vmMapa", "uri": "/contracts/8zOy0vmMapa#rotce", "label": "Performance Share Unit Award Agreement (Citigroup Inc)", "score": 35.3353881836, "published": true}], "snippet": "means the RoTCE for each 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"type": "definition", "offset": [262, 287]}, {"key": "discontinued-operations", "type": "definition", "offset": [290, 313]}, {"key": "divided-by", "type": "clause", "offset": [337, 347]}, {"key": "average-tangible-common-equity", "type": "definition", "offset": [348, 378]}], "size": 2, "hash": "fc29d7b43999738899499f9e587e46d0", "id": 8}, {"samples": [{"hash": "gTihhjPJqvJ", "uri": "/contracts/gTihhjPJqvJ#rotce", "label": "Performance Restricted Stock Unit Award Agreement (Us Bancorp \\De\\)", "score": 36.1451060917, "published": true}, {"hash": "hlI5IAnw43s", "uri": "/contracts/hlI5IAnw43s#rotce", "label": "Performance Restricted Stock Unit Award Agreement (Us Bancorp \\De\\)", "score": 35.1403160095, "published": true}], "snippet": "means the adjusted return on tangible common equity determined based on (a) net income applicable to the common shareholders of the company for the applicable calendar year during the Performance Period, adjusted by: (i) deducting the provision for credit losses determined under the Current Expected Credit Losses (CECL) methodology net of taxes for the Performance Period, (ii) adding net charge-offs net of taxes for the Performance Period, and (iii) excluding amortization of intangible assets on an after tax basis, the sum of which is divided by (b) that company\u2019s average tangible common shareholders\u2019 equity for the applicable calendar year during the Performance Period determined by subtracting average balances of preferred stock, non-controlling interests, intangibles and good will from total average equity.", "snippet_links": [{"key": "return-on-tangible-common-equity", "type": "definition", "offset": [19, 51]}, {"key": "based-on", "type": "definition", "offset": [63, 71]}, {"key": "net-income", "type": "clause", "offset": [76, 86]}, {"key": "applicable-to", "type": "definition", "offset": [87, 100]}, {"key": "shareholders-of-the-company", "type": "clause", "offset": [112, 139]}, {"key": "applicable-calendar-year", "type": 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"equitably-adjusted", "type": "definition", "offset": [250, 268]}, {"key": "in-accordance-with", "type": "definition", "offset": [269, 287]}, {"key": "section-9", "type": "clause", "offset": [288, 297]}], "size": 2, "hash": "2b6f69699a711f2624bee8717d286f58", "id": 10}], "next_curs": "ClISTGoVc35sYXdpbnNpZGVyY29udHJhY3Rzci4LEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIOcm90Y2UjMDAwMDAwMGEMogECZW4YACAA", "definition": {"title": "ROTCE", "snippet": "means for the Firm and each of the Performance Companies a percentage derived by, for each year in the Performance Period, dividing (i) annual earnings from continuing operations less dividends on preferred stock as set forth in published financial disclosures by (ii) the Average Tangible Common Equity for the year. If, prior to the end of the vesting period, the Firm or any Performance Company restates its published financial statements for any year in the Performance Period, ROTCE for that year shall be recalculated for the Firm or Performance Company with the Performance Ranking adjusted, if necessary. This calculation is used solely for purposes of the Performance Ranking.", "size": 46, "id": "rotce", "examples": ["The number of Units vesting and the number of Shares that shall become issuable on the Date of Issuance shall be reduced in the event that Adjusted <strong>ROTCE</strong> for one or more fiscal years in the Performance Period is less than or equal to zero, as provided on Appendix A.", "Except for Firm Reported <strong>ROTCE</strong>, calculations will be expressed as a decimal to the second place (i.e. xx.yy%), rounded to the nearest hundredth.", "The Absolute <strong>ROTCE</strong> for SunTrust and each member of the Peer Group shall be calculated and ranked from high to low.", "In determining performance, the Committee shall consider all fiscal quarters completed prior to the date of death or Disability, and (1) prorate the Minimum Performance Hurdle based on the number of completed fiscal quarters compared to the total 3-year Performance Period, and (2) with respect to the <strong>ROTCE</strong> Matrix and TSR Modifier, determine actual performance, based on completed calendar quarters, from the first day of the Performance Period through the date of death or Disability.", "The Payout Percentage determined under the <strong>ROTCE</strong> Matrix may be further adjusted by applying the \u201cTSR Modifier\u201d as indicated below.", "Except for Firm Reported <strong>ROTCE</strong>, calculations will be expressed as a decimal to the second place (i.e. xx.yy%).", "The Percentage of Target Award Number shall be determined by the sum of the percentages achieved based on the Company\u2019s Average <strong>ROTCE</strong> performance [applicable percentage] pursuant to subparagraph (a) below and the Company\u2019s relative Average <strong>ROTCE</strong> performance [applicable percentage], as measured by its Relative <strong>ROTCE</strong> Percentile pursuant to subparagraph (b) below.", "If the Average <strong>ROTCE</strong> performance in (a) or Relative <strong>ROTCE</strong> Percentile in (b) falls between, respectively, the levels indicated in table (a) or the percentiles indicated in table (b), the applicable Percentage of Target Award Number will in each case be determined on a straight-line basis (i.e., linearly interpolated) between the two nearest percentages indicated in the applicable table.", "On the Date of Issuance, the Units shall vest, and the Shares shall become issuable as determined based on the Company\u2019s Adjusted <strong>ROTCE</strong> and Growth of Tangible Book Value Per Share Plus Common Dividends, each as defined on Appendix A, relative to the Peer Group, as defined on Appendix B, over a three-year performance period beginning on January 1, 2023 and ending on December 31, 2025 (the \u201cPerformance Period\u201d) as certified by the Committee following the end of the Performance Period.", "For members of the Peer Group who fail, are acquired, or cease to have publicly-traded shares before the conclusion of the Performance Period, their Adjusted <strong>ROTCE</strong> and Growth of Tangible Book Value Per Share Plus Common Dividends (\u201cAdj <strong>ROTCE</strong> and GTBVPS+D\u201d) through the time the independent company stops reporting GAAP financials will be frozen and this Adj <strong>ROTCE</strong> and GTBVPS+D measurement will serve as their final Adj <strong>ROTCE</strong> and GTBVPS+D measurement for the Performance Period."], "related": [["integration-level", "Integration Level", "Integration Level"], ["company-action-level-rbc", "Company Action Level RBC", "Company Action Level RBC"], ["performance-measurement-period", "Performance Measurement Period", "Performance Measurement Period"], ["rbc-level", "RBC level", "RBC level"], ["broadband-level", "Broadband level", "Broadband level"]], "related_snippets": [], "updated": "2026-02-25T05:25:33+00:00"}, "json": true, "cursor": ""}}