Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 32

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 32
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 on the exchange ratio into a Huntington restricted stock award with the same terms and conditions as were applicable under such Cadence restricted stock award immediately prior to the effective time (including vesting terms).

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#### TABLE OF CONTENTS
Cadence Restricted Stock Unit Awards

At the effective time, each Cadence restricted stock unit award that is outstanding immediately prior to the effective time will (i) if granted to a non-employee member of the Cadence board of directors, fully vest and be converted into the right to receive a number of shares of Huntington common stock based on the exchange ratio, plus an amount in cash equal to the accrued but unpaid dividend equivalent payments applicable to such award and (ii) if not granted to a non-employee member of the Cadence board of directors, be assumed and converted based on the exchange ratio into a Huntington restricted stock unit award (with any performance goals deemed satisfied at the greater of the target and actual level of performance through the latest practicable date prior to the closing (provided that, with respect to any award that is subject to a relative total shareholder return (“rTSR”) modifier and has a performance period ending after December 31, 2025, the rTSR modifier will be determined based on performance measured as of October 21, 2025)) with the same terms and conditions as were applicable under such Cadence restricted stock unit award immediately prior to the effective time (including vesting terms); provided that each such Huntington restricted stock unit award will be subject to service-based vesting only and will no longer be subject to any performance conditions and will be credited with any accrued but unpaid dividend equivalent payments applicable to the underlying Cadence restricted stock unit award.

Material U.S. Federal Income Tax Consequences of the Merger (page 121)

The merger is intended to qualify as a “reorganization” for U.S. federal income tax purposes, and it is a condition to our respective obligations to complete the merger that Huntington and Cadence each receive a legal opinion to the effect that the merger will so qualify. Accordingly, U.S. holders (as defined in the section entitled “Material U.S. Federal Income Tax Consequences of the Merger”) of Cadence common stock generally will not recognize any gain or loss for U.S. federal income tax purposes on the exchange of their Cadence common stock for Huntington common stock in the merger, except for any gain or loss that may result from the receipt of cash instead of a fractional share of Huntington common stock.

You should be aware that the tax consequences