Company: HBAN
Filing Date: 2025-03-06
Form Type: DEF 14A
Source: 0001308179-25-000044
Chunk: 23

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-03-06
Form: DEF 14A
Chunk 23
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Compensation Outcomes for 2024 Timing of Compensation Decisions Shortly after year-end, the HRCC reviews the Company’s prior year performance and approves payment of annual incentive awards tied directly to the prior year’s performance. These payments are based on metrics that were chosen by the HRCC at the beginning of the plan year. The HRCC also approves annual equity-based long-term incentives based on performance and on other factors discussed below and makes decisions with respect to base salary adjustments. With respect to the incentive compensation amounts reported for 2024 in the Summary Compensation Table:

| Annual incentives based on 2024                                                     
 performance are reported under the “Non-Equity Incentive Plan Compensation” column. |
| Annual long-term incentives granted during the year                                 
 are reported as equity awards under the “Stock Awards” column.                      |

Decisions with respect to base salary adjustments, annual incentive awards under the MIP, and annual equity grants are discussed below.

| Huntington Bancshares Incorporated      2025 Proxy Statement | 73 |

| Compensation of Executive          
 Officers                           
 Compensation Discussion & Analysis |

Base Salary Following the HRCC’s annual review of current salaries, previous salary increases, and competitive market data, one NEO received a base salary increase in 2024. Annual Incentive Award Each year our Board conducts a rigorous planning and budgeting exercise for the coming fiscal year. One of the outcomes of that exercise is planned financial targets, which are then used by the HRCC to set targets for executive compensation. Huntington’s annual incentive awards under the MIP reflect Company performance over the course of one year on key short-term measures. Each executive has an annual target incentive opportunity under the MIP expressed as a percentage of their base salary. The specific threshold, target, and maximum opportunity for each executive is reflective of the executive’s role and competitive market practices. For 2024, the CEO’s target incentive was equal to 200% of his base salary. For the other participating NEOs, the 2024 MIP target was equal to 110% - 150% of base salary earned during the year. These targets were determined to be market competitive based on Huntington’s asset size.

| 2024 MIP Target |                |
| CEO             | 200%           
 of base salary |
| Other NEOs      | 110%-          
 150%           
 of base salary |

Metrics and Performance The HRCC considers the appropriate corporate performance metrics for each year based on short-term corporate goals and priorities. To measure 2024 performance