Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 153

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 153
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 March 31. The closing of the merger will constitute a change in control for purposes of the Cadence equity awards. Accordingly, if the executive officer experiences a qualifying termination within the applicable protection period following the closing of the merger, all unvested Cadence restricted stock unit awards and Cadence performance stock unit awards (which will be considered earned upon the closing based on the greater of target and actual performance measured through the latest practicable date prior to the effective time of the merger (subject to the rTSR Performance Determination)) will fully vest. For an estimate of the amounts that would be realized by each of Cadence’s named executive officers upon a qualifying termination event in settlement of his or her unvested Cadence equity awards, see the section entitled “—Merger-Related Compensation for Cadence’s Named Executive Officers—Golden Parachute Compensation” below. The estimated aggregate amount that would be realized by the six executive officers who are not named executive officers in settlement of their unvested Cadence equity awards that were outstanding on November 6, 2025 (including associated dividend equivalent rights accrued thereon) if the merger were completed on November 6, 2025 and each executive officer experienced a qualifying termination on that date is $9,747,579. In addition, the estimated aggregate amount that would be realized by the 12 Cadence non-employee directors in settlement of their Cadence equity awards (including associated dividend equivalent rights thereon) that are outstanding as of the Assumed Closing Date is $1,464,203. Cadence Change in Control Agreements Cadence is party to CIC Agreements with each of its executive officers, including its named executive officers. Under each CIC Agreement, if the executive officer experiences a qualifying termination of employment, in each case, within the 12-month period following a change in control, the executive officer is entitled to receive the following severance payments and benefits (the “CIC Benefits”):

| • | an amount in cash equal to 300% (for Mr. Rollins), 250% (for Mr. Bagley and Ms. Toalson) or 200% (for Messrs. Braddock, Lambert, and each of the six other executive officers who is not a named executive officer) of annual base salary as in effect at closing; |

| • | an amount in cash equal to 300% (for Mr. Rollins), 250% (for Mr. Bagley and Ms. Toalson) or