Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 234

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 234
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 payable a “dividend payment date”), commencing with the first such dividend payment date to occur after the closing date. The period from and including the date of issuance of the new Huntington preferred stock or any dividend payment date to but excluding the next succeeding dividend payment date is a “dividend period,” except that the initial dividend period which shall be the period from, and including, the most recent dividend payment date prior to closing (subject to adjustment if the closing occurs between a record date and a dividend payment date) to, but excluding, the next succeeding dividend payment date. Dividends on each share of new Huntington preferred stock will accrue on the liquidation preference amount of $25,000 per share at a rate per annum equal to 5.50%. The record date for payment of dividends on the new Huntington preferred stock will be the close of business on the fifteenth (15th) calendar day before that dividend payment date or such other record date fixed by the Huntington board of directors that is not more than sixty (60) nor less than ten (10) calendar days prior to such dividend payment date. The amount of dividends payable will be computed on the basis of a three hundred sixty (360)-day year consisting of twelve (12) thirty (30)-day months. Notwithstanding any other provision of the new Huntington preferred stock, dividends on the new Huntington preferred stock will not be declared, paid or set aside for payment to the extent such act would cause Huntington to fail to comply with laws and regulations applicable thereto, including applicable capital adequacy guidelines.

Dividends on shares of new Huntington preferred stock will be non-cumulative. To the extent that any dividends payable on the shares of new Huntington preferred stock on any dividend payment date are not declared and paid, in full or otherwise, on such dividend payment date, then such unpaid dividends will not cumulate and will cease to accrue and be payable and Huntington will have no obligation to pay, and the holders of new Huntington preferred stock will have no right to receive, dividends accrued for such dividend period after the dividend payment date for such dividend period or interest with respect to such dividends, whether or not dividends are declared for any subsequent dividend period with respect to new Huntington preferred stock, any parity stock, any junior stock or any other class or series of authorized preferred stock of Huntington.

So long as any share of new Huntington preferred stock remains outstanding, unless full dividends on all outstanding shares of new Huntington preferred stock for the most recently completed dividend period have been declared and paid in full