Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 171

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 171
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al Shares
No new certificates or scrip representing fractional shares of Huntington common stock will be issued upon the surrender for exchange of old certificates or otherwise pursuant to the merger agreement, no dividend or distribution with respect to Huntington common stock will be payable on or with respect to any fractional share, and such fractional share interests will not entitle the owner thereof to vote or to any other rights of a shareholder of Huntington. In lieu of the issuance of any such fractional share, Huntington will pay to each former holder who otherwise would be entitled to receive such fractional share an amount in cash (rounded to the nearest cent) determined by multiplying (i) the average of the closing sale prices of Huntington common stock on the NASDAQ as reported by The Wall Street Journal for the five (5) consecutive full trading days ending on the day preceding the closing date (the “Huntington share closing price”) by (ii) the fraction of a share (after taking into account all shares of Cadence common stock held by such holder immediately prior to the effective time and rounded to the nearest thousandth when expressed in decimal form) of Huntington common stock which such holder would otherwise be entitled to receive pursuant to the merger agreement.

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TABLE OF CONTENTS

Governing Documents At the effective time, the charter of Huntington National Bank, as in effect immediately prior to the effective time, will be the charter of the surviving bank until thereafter amended in accordance with applicable law, and the bylaws of Huntington National Bank, as in effect immediately prior to the effective time, will be the bylaws of the surviving bank until thereafter amended in accordance with applicable law. For a more detailed description of the governing documents of Huntington, see the section entitled “The Merger—Governance of Huntington After the Merger” beginning on page 97. Treatment of Cadence Equity Awards Cadence Restricted Stock Awards At the effective time, each Cadence restricted stock award will be treated as follows:

| • | The portion of each Cadence restricted stock award that was granted in September 2020 with a May 2027 vesting date and that pursuant to its existing terms would vest automatically at the effective time, if any, will fully vest and be converted automatically into the right to receive (without interest and less applicable taxes) the merger consideration in respect of each share of Cadence common stock subject to such portion of the Cadence restricted stock award immediately prior to the effective time; and |

| • | Each other Cadence restricted stock award, or portion thereof