Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 230

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 230
---
 received in cash or in the same form as previously paid by the interested stockholder for its shares. The MGCL may have the effect of inhibiting a non-negotiated merger or other business combination involving Huntington, even if some or a majority of Huntington’s shareholders might believe it to be in their best interests or in which Huntington’s shareholders might receive a premium for their stock over Huntington’s then market price.

136

TABLE OF CONTENTS

Certain Charter and Bylaw Provisions Potentially Having an Anti-Takeover Effect Huntington’s charter and bylaws contain certain provisions that could have an anti-takeover effect and thus discourage potential takeover attempts and make it more difficult for Huntington’s shareholders to change management or receive a premium for their shares. These provisions include:

| • | authorization for Huntington’s board of directors to issue shares of one or more series of preferred stock without shareholder approval; |

| • | a requirement that directors only be removed from office for cause and only upon the affirmative vote of at least two-thirds (2/3) of all the votes entitled to be cast generally in the election of directors; |

| • | a requirement under Maryland law that shareholder action without a meeting requires unanimous written consent; |

| • | a limitation on the ability of shareholders to call special meetings to those shareholders entitled to cast not less than a majority of the votes entitled to be cast; |

| • | the requirement under Maryland law that shareholders representing two-thirds (2/3) or more of the outstanding shares of common stock approve all amendments to Huntington’s charter and approve mergers and similar transactions; |

| • | the requirement that any shareholders that wish to bring business before Huntington’s annual meeting of shareholders or nominate candidates for election as directors at Huntington’s annual meeting of shareholders must provide timely notice of their intent in writing and comply with the other requirements set forth in Huntington’s bylaws; and |

| • | a prohibition on cumulative voting in the election of directors. |

Limitation of Liability and Indemnification of Officers and Directors The MGCL permits a Maryland corporation to include in its charter a provision limiting the liability of its directors and officers to the corporation and its shareholders for money damages except for liability resulting from (a) actual receipt of an improper benefit or profit in money, property or services or (b) active and deliberate dishonesty established by a final judgment and which is material to the cause of action. Huntington’s charter provides that to the fullest extent permitted by Maryland statutory or decision law, as amended or interpreted, its directors and officers