Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 149

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 149
---
 merger proposal or any of the other proposals to be voted on at the Cadence special meeting. Interests of Cadence’s Directors and Executive Officers in the Merger In considering the recommendation of the Cadence board of directors with respect to the merger, Cadence shareholders should be aware that certain of Cadence’s directors and executive officers have interests in the merger, including financial interests, that are different from, or in addition to, the interests of the other shareholders of Cadence generally. The Cadence board of directors was aware of and considered these interests, among other matters, during its deliberations on the merits of the merger and in determining to recommend to Cadence shareholders that they vote for the Cadence merger proposal, the Cadence compensation proposal and the Cadence adjournment proposal. These interests include, among others, the following:

| • | each of Cadence’s directors and executive officers holds unvested equity incentive awards and, at the effective time of the merger, each outstanding equity incentive award will be treated in accordance with the terms set forth in the merger agreement, as discussed in the section entitled “The Merger—Interests of Cadence's Directors and Executive Officers in the Merger—Treatment of Outstanding Cadence Equity Awards” below; |

| • | under the terms of the EPIP, following the closing of the merger, each Cadence executive officer will be entitled to receive no less than the target amount of his or her then-current annual cash incentive bonus; |

| • | Huntington entered into a letter agreement with Mr. Rollins concurrently with the execution of the merger agreement, which provides for, among other things, certain compensation and benefits for his service with Huntington following the closing of the merger; |

| • | three of Cadence’s directors (including Mr. Rollins) will be appointed to the board of directors of Huntington and Mr. Rollins will be appointed to the board of Huntington National Bank; and |

| • | Cadence’s directors and executive officers are entitled to certain continued indemnification and directors’ and officers’ liability insurance coverage under the merger agreement. |

These interests are described in more detail below, and certain of them are quantified in the narrative and table below. The merger will be a “change in control” for purposes of Cadence’s executive compensation and benefit plans and agreements as described below. References to the named executive officers of Cadence include James D. Rollins III—Chairman and Chief Executive Officer, Valerie C. Toalson—Chief Financial Officer and President – Banking