Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 152

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 152
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 modifier will be determined based on performance measured as of October 21, 2025 (the “rTSR Performance Determination”)) and (y) adjusted based on the exchange ratio; and

| • | Cadence restricted stock awards: each outstanding Cadence restricted stock award (other than those that vest solely as a result of the merger pursuant to their terms) will convert into Huntington restricted stock, with the number of shares adjusted based on the exchange ratio. |

Each such converted Huntington award will otherwise continue to be subject to the same terms and conditions as applied to the corresponding Cadence award (including “double-trigger” vesting terms, as described below, but excluding any performance-based vesting requirements) in effect immediately prior to the effective time of the merger. Each Cadence equity award agreement governing the treatment of such awards provides for “double-trigger” vesting if the executive officer is terminated by Cadence without cause, or if the executive officer terminates his or her employment for good reason (each, a “qualifying termination”) upon or within up to two years following a change in control, which may be extended through March 31 of the year that is two years following the effective time for each award with a vesting date of 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,