Company: HBAN
Filing Date: 2025-07-21
Form Type: S-4
Source: 0001140361-25-026508
Chunk: 58

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-21
Form: S-4
Chunk 58
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 or Company B), the potential business combination transaction with Company A and Company B (including potential market reaction thereto) and the potential of there being other partners for a business combination transaction. The Veritex Board discussed challenges resulting from the competitive environment, Veritex’s funding mix, the potential benefits and risks of a business combination transaction with Company A and Company B relative to Veritex’s available alternatives, including pursuing its standalone plan, the potential growth prospects, in Texas and elsewhere, in a combination with Company A and Company B, the importance of Mr. Holland and other Veritex personnel to growth prospects, and keeping an

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open mind about alternative proposals. Following the discussion, the Veritex Board authorized Mr. Holland to (a) inform the chief executive officer of Company A that Veritex was not interested in pursuing business combination discussions with Company A, including as a result of the relative prospects of the combined company, execution risk and likely market reaction, and (b) (i) inform the chief executive officer of Company B that Veritex was interested in evaluating and discussing a business combination transaction with Company B, (ii) discuss with the chief executive officer of Company B certain considerations raised by the Veritex Board, including to obtain clarity on certain questions raised by the Veritex Board, and (iii) negotiate certain key terms from the Company B LOI, including the exchange ratio and exclusivity request.

On March 26, 2025, Mr. Holland informed the chief executive officer of Company A of the Veritex Board’s determination not to pursue business combination discussions with Company A. No confidentiality agreement was ever entered into between Veritex and Company A.

On March 26, 2025, Mr. Holland spoke with the chief executive officer of Company B to provide feedback on the Veritex Board’s guidance and set up a meeting to discuss in greater detail. Thereafter, Mr. Earley and the chief financial officer of Company B had ongoing discussions about a potential transaction. On April 2, 2025, Mr. Holland and Mr. Earley met with the chief executive officer and other senior management members of Company B in Houston, Texas to discuss feedback from the Veritex Board, the exchange ratio for a business combination transaction and other terms of the Company B LOI.

On April 4, 2025, the Veritex Board held a special meeting, which was also attended by members of