Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 93

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 93
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, a variety of presentation materials — including the financial presentation of KBW, a substantially final form of the proposed definitive merger agreement, an updated summary of executive compensation and employee matters, a draft press release announcing the proposed transaction, a draft Huntington investor deck and a form of proposed board resolutions for the approval of the proposed transaction — had been made available to the Cadence Board. KBW updated the Cadence Board on the changes in the market environment since the October 21, 2025 meeting. KBW then reviewed the financial aspects of the proposed transaction, which included review of the financial analyses, and rendered to the Cadence Board the opinion of KBW, which was initially rendered verbally and confirmed in a written opinion dated October 26, 2025, attached to this joint proxy statement/prospectus as

#### Annex C
, to the effect that, as of the date of KBW’s written opinion and subject to the procedures followed, assumptions made, matters considered and qualifications and limitations on the review undertaken by KBW as set forth in such opinion, the exchange ratio in the merger was fair from a financial point of view to the holders of Cadence common stock summarized below in the section entitled “The Merger—Opinion of Cadence’s Financial Advisor” on page 75 . Mr. Rollins then discussed the expected timeline and communications plan for the proposed transaction. Mr. Rollins also updated the board on the status of certain executive compensation arrangements and employee matters. Ms. Toalson then presented on Cadence’s securities hedging plan to minimize market value impact and support acquisition valuation of the Cadence common stock. Following this discussion, members of the Executive Management Committee, except Mr. Rollins and Mses. Toalson, Kuzdzal, and Cathy Freeman, Senior Executive Vice President and Chief Administrative Officer, departed the meeting. Representatives of Sullivan & Cromwell then discussed the updates to the executive employee arrangements discussed at the October 21, 2025 meeting of the Cadence Board. The representatives then noted that there had been no material changes to the terms of the definitive merger agreement since the October 21, 2025 meeting of the Cadence Board and provided the Cadence Board with a summary of the form of the board resolutions for the approval of the proposed transaction included in the presentation materials made available to the Cadence Board prior to the meeting. Throughout the presentations, Mr. Rollins, and representatives of each of KBW and Sullivan & Cromwell, addressed a number of questions from directors. Following