Company: HBAN
Filing Date: 2025-03-06
Form Type: DEF 14A
Source: 0001308179-25-000044
Chunk: 24

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-03-06
Form: DEF 14A
Chunk 24
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, the HRCC selected the metrics of EPS, PPNR Earnings Growth, and Operating Leverage. These three performance metrics were chosen from among the list of available criteria under the MIP, and represented key short-term strategic areas of focus intended to support profitable growth. The choice of metrics also reflected a balanced approach to measuring success.

| Annual             
 Incentive Metric   |     | Why                                                                                                      
 We Chose This Metric                                                                                     |
| EPS(1)             |     | Strong                                                                                                   
 alignment with shareholder value creation                                                                |
| PPNR               
 Earnings Growth(1) |     | A                                                                                                        
 core operating performance indicator and adds a growth component                                         |
| Operating          
 Leverage(1)        |     | Ensures                                                                                                  
 that our incentives are aligned with our commitment to shareholders to grow revenue faster than expenses |

| (1) | Non-GAAP,                                                    
 see Appendix A to this proxy statement for more information. |

For the 2024 MIP plan year, EPS, PPNR Earnings Growth, and Operating Leverage targets were each set in January with reference to the annual financial budget. Typically, budgets reflect the outlook for the upcoming year, and the targets in 2024 factored in market uncertainty and volatility, a falling yield curve, and expense investments to drive long-range plan results in key growth areas including the addition of new commercial verticals and expansion into new geographies in the Carolinas and Texas. With these considerations, 2024 targets for EPS and Operating Leverage were set lower than 2023 actual results. For each metric, the HRCC determined a threshold, target, and maximum level of achievement based on the Company’s operating plan for 2024, with each performance measure independent of achievement of the other criteria. We interpolate between the threshold, target, and maximum goals to ensure sound incentive compensation arrangements and appropriate pay for performance alignment. MIP funding may range from 0% of target to 200% of target. Adjustments for Extraordinary Events In determining whether a performance goal has been met, the HRCC may include or exclude “Extraordinary Events,” as defined in the MIP, or any other objective events or occurrences, in either establishing the performance goal based on the qualifying performance criteria or in determining whether the performance goal has been achieved; provided, however, that the HRCC retains the discretion to adjust awards upward or downward based on the HRCC’s evaluation of such events or other factors.

| 74 | Huntington Bancshares Incorporated