Company: HBAN
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001140361-25-029894
Chunk: 89

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-08
Form: S-4/A
Chunk 89
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—Veritex’s Reasons for the Merger; Recommendation of Veritex’s Board of Directors” in this proxy statement/prospectus. These interests are described in more detail below, and certain of them are quantified in the narrative and table below. For purposes of the Veritex equity awards and the employment agreements with the Veritex executive officers, the consummation of the merger will be a change of control. Treatment of Outstanding Veritex Equity Awards The outstanding Veritex equity awards held by Veritex’s executive officers immediately prior to the effective time will be generally treated in the same manner as those Veritex equity awards held by other employees of Veritex, and in each case, except as described below, will be treated in accordance with the terms and conditions that were applicable to such awards before the effective time. As further described in “The Merger Agreement—Treatment of Veritex Equity Awards,” at the effective time of the merger, each outstanding Veritex equity award granted under Veritex’s equity compensation plans will be treated as follows:

| • | Each Veritex stock option with a per-share exercise price that is less than the per-share value of the merger consideration will be cancelled and converted into the right to receive an amount in cash equal to the product of the difference between the merger consideration value and the per-share exercise price,multiplied bythe number of shares of Veritex common stock subject to the Veritex stock option immediately prior to the effective time. Each Veritex stock option with a per-share exercise price that is equal to or greater than the merger consideration value will be cancelled for no consideration; |

| • | Each other Veritex restricted stock unit award will be assumed by Huntington and converted into a restricted stock unit award in respect of a number of shares of Huntington common stock (rounded to the nearest whole share) equal to the product of the number of shares of Veritex common stock underlying such Veritex restricted stock unit award immediately prior to the effective timemultiplied bythe exchange ratio, with the converted award to have the same terms and conditions as were applicable to the Veritex restricted stock unit award prior to the effective time. |

If a Veritex executive officer’s employment is terminated by Veritex without cause or by the executive officer for good reason on or within twenty-four (24) months of a change of control (such a termination, a

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**“qualifying termination”), any converted