Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 17

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 17
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/prospectus and the completion of the merger based upon the market value for Huntington common stock. Any fluctuation in the market price of Huntington common stock after the date of this joint proxy statement/prospectus will change the value of the shares of Huntington common stock that holders of Cadence common stock will receive. Neither Huntington nor Cadence is permitted to terminate the merger agreement as a result, in and of itself, of any increase or decrease in the market price of Huntington common stock or Cadence common stock. |

| Q: | How will the merger affect Cadence equity awards? |

| A: | At the effective time: |

| • | the portion of each award in respect of a share of Cadence common stock subject to vesting, repurchase or other lapse restriction granted under a Cadence stock plan that is outstanding immediately prior to the effective time (a “Cadence restricted stock award”) that was granted in September 2020 with a May 2027 vesting date and that pursuant to its existing terms would vest automatically at the effective time, if any, will fully vest and be converted automatically into the right to receive (without interest and less applicable taxes) the merger consideration in respect of each share of Cadence common stock subject to such portion of the Cadence restricted stock award immediately prior to the effective time; |

| • | each other Cadence restricted stock award, or portion thereof, will be assumed and converted into a restricted stock award of shares of Huntington common stock subject to vesting, repurchase or other lapse restriction with the same terms and conditions as were applicable under such Cadence restricted stock award immediately prior to the effective time (including vesting terms), and relating to the |

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number of shares of Huntington common stock equal to the product of (i) the number of shares of Cadence common stock subject to such Cadence restricted stock award immediately prior to the effective time, multiplied by(ii) the exchange ratio, with any fractional shares rounded to the nearest whole share of Huntington common stock;

| • | each restricted stock unit award in respect of shares of Cadence common stock granted under a Cadence stock plan that is outstanding immediately prior to the effective time (a “Cadence restricted stock unit award”) that is held by a non-employee member of the Cadence board of directors will fully vest and be converted automatically into the right to receive (i) a number of shares of Huntington common stock equal to the product of (A) the number of shares of Cadence common stock