Company: HBAN
Filing Date: 2025-07-21
Form Type: S-4
Source: 0001140361-25-026508
Chunk: 23

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-21
Form: S-4
Chunk 23
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 stock option immediately prior to the effective time. Each Veritex stock option with a per-share exercise price that is equal to or greater than the merger consideration value will be cancelled for no consideration. Veritex Restricted Stock Unit Awards At the effective time, each Veritex restricted stock unit award that (a) was granted to an employee of Veritex prior to July 13, 2025 or (b) is held by a non-employee director of Veritex will be cancelled and converted into the right to receive shares of Huntington common stock in an amount equal to the product of the number of shares subject to the Veritex restricted stock unit award immediately prior to the effective time (with any performance goals applicable to the Veritex restricted stock unit award deemed satisfied at the target level of performance) multiplied bythe exchange ratio (reduced by the number of shares necessary to satisfy applicable tax withholdings). At the effective time, each other Veritex restricted stock unit award will be assumed by Huntington and converted into a restricted stock unit award in respect of a number of shares of Huntington common stock (rounded to the nearest whole share) equal to the product of the number of shares of Veritex common stock underlying such Veritex restricted stock unit award immediately prior to the effective time multiplied bythe exchange ratio, with the converted award to have the same terms and conditions as were applicable to the Veritex restricted stock unit award prior to the effective time. Material U.S. Federal Income Tax Consequences of the Merger (page 76) The merger is intended to qualify as a “reorganization” for U.S. federal income tax purposes, and it is a condition to our respective obligations to complete the merger that Huntington and Veritex each receive a legal opinion to the effect that the merger will so qualify. Accordingly, holders of Veritex common stock generally will

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not recognize any gain or loss for U.S. federal income tax purposes on the exchange of their Veritex common stock for Huntington common stock in the merger, except for any gain or loss that may result from the receipt of cash instead of a fractional share of Huntington common stock.

You should be aware that the tax consequences to you of the merger may depend upon your own situation. In addition, you may be subject to state, local or non-U.S. tax laws that are not discussed in this proxy statement/prospectus. You should therefore consult with your own tax advisor for a full understanding of the tax consequences