Company: HBAN
Filing Date: 2025-03-06
Form Type: DEF 14A
Source: 0001308179-25-000044
Chunk: 26

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-03-06
Form: DEF 14A
Chunk 26
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 years                    
 Performance                                   
 Measures:                                     
 Relative ROTCE                                
 Absolute                                      
 ROTCE Performance Threshold                   
 Share                                         
 Payout Range:0-150% of target                 |
| RSUs    |     |                    |     |       |     | Vesting:50% after year 3 and 50% after year 4 |

| (1) | Beginning                                                                                      
 in 2025, PSUs comprise 60% of total annual LTI grant value for CEO and 55% for the other NEOs. |

| 76 | Huntington Bancshares Incorporated      2025 Proxy Statement |

| Compensation          
 of Executive Officers 
 Compensation          
 Discussion & Analysis |

PSUs — Performance Metrics With assistance from the independent consultant, the HRCC selected ROTCE, the same metric used in 2023, as the metric for the 2024 PSU grant, measured on both a relative and an absolute basis.

Why We Use ROTCE as the PSU Metric

| The                                                                                                                         
 Company believes ROTCE is a key factor to long-term profitable growth and returns.                                          |
| There is                                                                                                                    
 a strong correlation of higher ROTCE to higher valuations for the common stock of publicly-traded bank holding companies.   |
| The PSU                                                                                                                     
 awards are denominated in stock, which provides an inherent tie to share price performance and overall shareholder returns. |

The relative ROTCE target is set at the 55th percentile to ensure that target payout is not made unless Huntington’s performance is superior to that of the peer group median. The peer group for relative performance comparisons consists of the 2024 benchmarking peers as discussed under Market Referencingbelow. In addition, a minimum three-year average absolute ROTCE of 6% must be achieved to receive a payout. Beginning in 2024, the Company phased out the award modifier, which provided up to a 20% multiplier for new revenue earned incremental to the budget. The new revenue multiplier was originally implemented to drive and capture new sources of revenue not envisioned in strategic initiatives when the PSU was granted. Those strategic initiatives identified through this process have now been incorporated into regular revenue streams accounted for in our annual budget. As reflected in the table below, the HRCC determined a threshold, target, and maximum level of relative achievement for the three-year performance cycle, along with an absolute performance threshold. In calculating performance to determine whether a performance goal has been achieved, the HRCC will adjust for “Extraordinary Events,” as defined in the Long-Term Incentive Plans.

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