Company: HBAN
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001140361-25-029894
Chunk: 90

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-08
Form: S-4/A
Chunk 90
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 restricted stock unit awards in respect of Huntington common stock (i.e., those granted on or after July 13, 2025) will vest in full.

For an estimate of the amounts that would be realized by each of Veritex’s named executive officers in settlement of his or her unvested Veritex equity awards, see “—Merger-Related Compensation for Veritex’s Named Executive Officers” below. The estimated aggregate amount that would be realized by the three (3) executive officers who are not named executive officers in settlement of their unvested Veritex equity awards that were outstanding on July 17, 2025 if the merger was completed on October 1, 2025 is $1,844,802.96. In addition, the estimated aggregate amount that would be realized by the twelve (12) Veritex non-employee directors in settlement of their Veritex equity awards that are outstanding as of July 17, 2025 if the effective time occurred on October 1, 2025 is $1,718,256.54. These amounts are calculated using a price per share of Veritex common stock of $32.34 (the average closing price of Veritex common stock on the first five (5) business days following the announcement of the merger) and, in the case of Veritex restricted stock unit awards with performance-based vesting conditions, assumed target performance. These amounts do not attempt to forecast any additional equity grants, issuances or forfeitures that may occur prior to the closing of the merger. As a result of the foregoing assumptions, which may or may not be accurate on the relevant date, the actual amounts, if any, to be realized by Veritex’s executive officers who are not named executive officers and directors may materially differ from the amounts set forth above.

Veritex Employment Agreements and Consulting Agreement

Veritex is party to employment agreements with the following executive officers: Messrs. Holland, Holford, Karaba, Anderson, Donnelly and McDaniel and Mses. Harper and Renfro.

Employment Agreement of C. Malcolm Holland.

On April 16, 2021, Veritex entered into an employment agreement with C. Malcolm Holland (the “Holland employment agreement”), its Chief Executive Officer. If Mr. Holland experiences a qualifying termination, he will be entitled to receive the following severance payments and benefits, subject to his execution and non-revocation of a release of claims: (