Company: HBAN
Filing Date: 2025-08-15
Form Type: 424B3
Source: 0001140361-25-031511
Chunk: 54

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-15
Form: 424B3
Chunk 54
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 and outstanding immediately prior to the effective time (other than certain shares held by Huntington or Veritex) will be converted into the right to receive 1.95 shares of Huntington common stock. No fractional shares of Huntington common stock will be issued in connection with the merger, and holders of Veritex common stock will be entitled to receive cash in lieu thereof.

Holders of Veritex common stock are being asked to approve the merger and the merger agreement. See the section entitled “The Merger Agreement” beginning on page 60 for additional and more detailed information regarding the legal documents that govern the merger, including information about the conditions to the completion of the merger and the provisions for terminating or amending the merger agreement.

### Background of the Merger
As part of the ongoing consideration and evaluation of their respective long-term prospects and strategies, each of Huntington’s and Veritex’s board of directors (which we refer to in this section as the “Huntington Board” and the “Veritex Board”, respectively) and Huntington’s and Veritex’s senior management have regularly reviewed and assessed their respective business strategies and objectives, including assessments of strategic growth opportunities potentially available to Huntington and Veritex, as part of their respective continuous efforts to enhance value for their respective stockholders and shareholders and deliver the best possible services to their respective customers and communities. These reviews have focused on, among other things, prospects and developments in the financial services industry, the regulatory environment, the economy generally, and financial markets, and the implications of such developments for financial institutions generally and Huntington and Veritex, in particular. These reviews have also included assessments of ongoing consolidation in the financial services industry and the benefits and risks to Huntington and Veritex, respectively, and their respective stockholders and shareholders, of strategic combinations compared to the benefits and risks of continued operation as a stand-alone company.

In September 2024, Mr. C. Malcolm Holland, Veritex’s chairman, president and chief executive officer, met with the chief executive officer of a regional bank holding company (Company A) at an industry conference and discussed the potential of evaluating a possible business combination transaction between Veritex and Company A. Mr. Holland and the chief executive officer of Company A continued to speak periodically in late 2024 and early 2025 about such a possible business combination transaction. In January 2025, the chief executive officer of Company A met with Mr. Holland and presented certain financial aspects of a combination of Veritex and Company A. Mr