Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 235

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 235
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 or declared and a sum sufficient for the payment thereof has been set aside, (i) no dividend will be declared or paid or set aside for payment and no distribution will be declared or made or set aside for payment on any junior stock, other than a dividend payable solely in shares of junior stock or any dividend in connection with the implementation of a shareholder rights plan or the redemption or repurchase of any rights under such plan, including with respect to any successor shareholder rights plan, (ii) no shares of junior stock will be repurchased, redeemed or otherwise acquired for consideration by Huntington, directly or indirectly (other than as a result of a reclassification of junior stock for or into other junior stock, or the exchange or conversion of one share of junior stock for or into another share of junior stock, and other than through the use of the proceeds of a substantially contemporaneous sale of other shares of junior stock or pursuant to a contractually binding requirement to buy junior stock pursuant to a binding stock repurchase plan existing prior to the most recently completed dividend period), nor will any monies be paid to or made available for a sinking fund for the redemption of any such securities by Huntington and (iii) no shares of parity stock will be repurchased, redeemed or otherwise acquired for consideration by Huntington other than pursuant to pro rata offers to purchase all, or a pro rata portion, of the new Huntington preferred stock and such parity stock, through the use of proceeds of a substantially contemporaneous sale of other shares of parity stock or junior stock, as a result of the reclassification of parity stock, or by conversion into or exchange for junior stock, during such dividend period. The limitations in clauses (i), (ii) and (iii) do not apply to purchases or acquisitions of junior stock pursuant to any employee or director incentive or benefit plan or arrangement (including any employment, severance or consulting agreements) of Huntington or any of its subsidiaries. When dividends are not paid in full upon the shares of new Huntington preferred stock and any parity stock, all dividends declared upon shares of new Huntington preferred stock and any parity stock will be declared on a pro rata basis. For purposes of calculating the pro rata allocation of partial dividend payments, Huntington shall allocate dividend payments based on the ratio between the then current and the unpaid dividend payments due on the shares of the new Huntington preferred stock and (A) in the case of cumulative parity stock, the aggregate of the accrued and unpaid dividends due on any such parity stock and (B) in the case of non-cum