Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 170

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 170
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 been converted into the right to receive pursuant to the terms of the merger agreement and (iii) any dividends or distributions which the holder thereof has the right to receive pursuant to the terms of the merger agreement, in each case of the foregoing clauses (i), (ii) and (iii), without any interest thereon. Old certificates previously representing shares of Cadence common stock will be exchanged for certificates or, at Huntington’s option, evidence of shares in book-entry form representing whole shares of Huntington common stock (together with any dividends or distributions with respect thereto and cash in lieu of fractional shares issued in consideration therefor) upon the surrender of such old certificates pursuant to the terms of the merger agreement, without any interest thereon.

If, prior to the effective time, the outstanding shares of Huntington common stock or Cadence common stock have been increased, decreased, changed into or exchanged for a different number or kind of shares or securities, in any such case as a result of a reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split, or other similar change in capitalization, or there is any extraordinary dividend or extraordinary distribution, an appropriate and proportionate adjustment will be made to the exchange ratio to give the holders of Cadence common stock the same economic effect as contemplated by the merger agreement prior to such event; provided that this will not permit Huntington or Cadence to take any action with respect to its securities that is prohibited by the terms of the merger agreement.

At the effective time, all shares of Cadence common stock that are owned by Cadence or the Huntington Parties (in each case other than shares of Cadence common stock (i) held in any Cadence benefit plans or related trust accounts, managed accounts, mutual funds and the like, or otherwise held in a fiduciary or agency capacity and (ii) held, directly or indirectly, in respect of debts previously contracted) will be cancelled and will cease to exist, and neither the merger consideration nor any other consideration will be delivered in exchange therefor.

Also at the effective time, each share of Cadence series A preferred stock issued and outstanding immediately prior to the effective time will automatically be converted into the right to receive one (1) depositary share representing one one-thousandth (1/1000th) of a share of new Huntington preferred stock and, upon such conversion, the Cadence series A preferred stock will no longer be outstanding and will automatically be cancelled and will cease to exist as of the effective time.

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