Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 150

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 150
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” below; |

| • | under the terms of the EPIP, following the closing of the merger, each Cadence executive officer will be entitled to receive no less than the target amount of his or her then-current annual cash incentive bonus; |

| • | Huntington entered into a letter agreement with Mr. Rollins concurrently with the execution of the merger agreement, which provides for, among other things, certain compensation and benefits for his service with Huntington following the closing of the merger; |

| • | three of Cadence’s directors (including Mr. Rollins) will be appointed to the board of directors of Huntington and Mr. Rollins will be appointed to the board of Huntington National Bank; and |

| • | Cadence’s directors and executive officers are entitled to certain continued indemnification and directors’ and officers’ liability insurance coverage under the merger agreement. |

These interests are described in more detail below, and certain of them are quantified in the narrative and table below. The merger will be a “change in control” for purposes of Cadence’s executive compensation and benefit plans and agreements as described below. References to the named executive officers of Cadence include James D. Rollins III—Chairman and Chief Executive Officer, Valerie C. Toalson—Chief Financial Officer and President – Banking Services, Christopher A. Bagley—President and Chief Credit Officer, Edward H. Braddock—Chief Banking Officer and Tyler L. Lambert—Chief Risk Officer. Cadence’s executive officers who are not named executive officers for purposes of this disclosure are Cathy S. Freeman, Jeffrey W. Jaggers, Shanna R. Kuzdzal, Kevin H. McMahon, Jerrell M. Moore and Brian D. Walhood. Cadence’s non-employee directors are

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TABLE OF CONTENTS

Joseph W. Evans, Fernando G. Araujo, Shannon A. Brown, Deborah M. Cannon, Charlotte N. Corley, Virginia A. Hepner, William G. Holliman, Warren A. Hood Jr., Keith J. Jackson, Precious W. Owodunni, Alice L. Rodriguez, and Thomas R. Stanton. Certain Assumptions Except as otherwise specifically noted, for purposes of quantifying the potential payments and benefits described in this section, the following assumptions were used:

| • | the relevant price per share of Cadence common stock is $37.63, which is the average closing price per share of Cadence common stock as reported on the New York Stock Exchange over the first five business