Fifth Third Bancorp management check
FITB · Financials · Regional Banks · CEO Greg D. Carmichael
Filings as of
3 good · 2 to watch · 1 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $204, against $196 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.61 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.4% of net income$11.1m of reported pay in fiscal 2025, against $2.5bn of net income.
- n/a
Do they own the stock?
No recent CEO filingLight activity: no buys, $1.0m sold in six months.
- Flag
Are owners being diluted?
Share count shrinkingDiluted shares changed -1.1% a year over the last three fiscal years. Stock-based pay was 29.3% of revenue in the latest year.
- Watch
Is leadership stable?
2 CEOs in the pay tableCEOs in the pay table: Greg D. Carmichael, Timothy N. Spence. 11 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Watch
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021. The company says it has not adopted insider trading policies.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Financials.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 55 | 49 | |
| Pay for performance | 81 | 83 | |
| CEO cost | 80 | 67 | |
| Skin in the game | — | — | 51 |
| Dilution | 20 | 69 | |
| Stable leadership | 30 | 80 | |
| Clean books | 70 | 100 |
Closest peers
Others in Regional Banks, by management score. Fifth Third Bancorp is 61st of 72 in its sector.
Pay versus performance
From the proxy statement filed March 9, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Greg D. Carmichael, Timothy N. Spence | $11.1m | $15.8m | $3.7m | $204 | $196 | $2.5bn |
| 2024 | — | $10.1m | $16.6m | $5.0m | $178 | $148 | $2.3bn |
| 2023 | — | $9.4m | $11.1m | $2.7m | $140 | $108 | $2.3bn |
| 2022 | — | $11.0m | $9.1m | $2.8m | $127 | $109 | $2.4bn |
| 2021 | — | $10.5m | $21.0m | $3.1m | $162 | $138 | $2.8bn |
The board says pay is tied most to Adjusted ROACE. Its other key measures: Adjusted Return on Average Common Equity, Adjusted Earnings Per Share, Adjusted Return on Assets, Adjusted Efficiency Ratio.
Insiders and the CEO's stake
Light activity: no buys, $1.0m sold in six months.
- SoldPeter L SefzikEVP$1.0mApr 28, 2026
Leadership and governance on file
- Apr 24, 2026Leadership change8-K 5.02
- Feb 24, 2026Leadership change8-K 5.02
- Feb 2, 2026Leadership change8-K 5.02
- Dec 12, 2025Leadership change8-K 5.02
- Jun 25, 2025Leadership change8-K 5.02
- Sep 17, 2024Leadership change8-K/A 5.02
- Aug 6, 2024Leadership change8-K 5.02
- Apr 19, 2024Leadership change8-K 5.02
- Feb 16, 2024Leadership change8-K 5.02
- Dec 19, 2023Leadership change8-K 5.02
- Nov 13, 2023Leadership change8-K 5.02
- Aug 21, 2023Leadership change8-K 5.02
Latest shareholder vote results: Apr 24, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $8.1bn returned to owners in buybacks and dividends, 65% of net income, and $781.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $600.0m | $589.0m | $577.0m | — | — |
| Net income | $2.8bn | $2.4bn | $2.3bn | $2.3bn | $2.5bn |
| Stock-based pay | $120.0m | $165.0m | $169.0m | $164.0m | $163.0m |
| Buybacks | $1.4bn | $100.0m | $200.0m | $625.0m | $525.0m |
| Dividends | $897.0m | $927.0m | $1.1bn | $1.2bn | $1.2bn |
| Diluted shares | 711m | 695m | 688m | 687m | 673m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.