Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 60

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 60
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 All options have a contractual term of ten years from the date of grant. Huntington’s stock option activity and related information was as follows.(dollar amounts in millions, except per share and options amounts in thousands)Options Weighted-AverageExercise PriceWeighted-AverageRemaining Contractual Life (Years)AggregateIntrinsic ValueOutstanding at January 1, 202412,922 $12.58 Exercised(2,481)11.40 Forfeited/expired(135)14.11 Outstanding at December 31, 202410,306 $12.84 4.1$36 Expected to vest471 $16.00 6.3$129 Exercisable at December 31, 20249,835 $12.69 4.0$36 Restricted Stock Units and Performance Share Units Restricted stock units and performance share units awarded by Huntington are granted at the closing market price on the date of the grant. Restricted stock units can be settled in shares or cash depending on the award and, for the most part, provide either accumulated cash dividends during the vesting period or, accrue a dividend equivalent that is paid upon vesting. Restricted stock units are subject to certain service restrictions. Performance share units are payable contingent upon Huntington achieving certain predefined performance objectives over a three-year measurement period. The fair value of these awards and units reflects the closing market price of Huntington’s common stock on the grant or assumption date. 

2024 Form 10-K     133

Table of Contents

The following table summarizes the status of Huntington’s restricted stock units and performance share units as of December 31, 2024, and activity for the year ended December 31, 2024.Restricted Stock UnitsPerformance Share Units(amounts in thousands, except per share amounts)Quantity Weighted-AverageGrant DateFair ValuePer ShareQuantity Weighted-AverageGrant DateFair ValuePer ShareNonvested at January 1, 202424,669 $13.15 3,220 $15.19 Granted9,060 13.12 1,975 12.95 Vested(5,866)11.97 (1,581)16.04 Forfeited(1,092)14.38 (43)14.31 Nonvested at December 31, 202426,771 $14.13 3,571 $14.19 The weighted-average