Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 95

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 95
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 Cadence’s Financial Advisor” on page 75 . Mr. Rollins then discussed the expected timeline and communications plan for the proposed transaction. Mr. Rollins also updated the board on the status of certain executive compensation arrangements and employee matters. Ms. Toalson then presented on Cadence’s securities hedging plan to minimize market value impact and support acquisition valuation of the Cadence common stock. Following this discussion, members of the Executive Management Committee, except Mr. Rollins and Mses. Toalson, Kuzdzal, and Cathy Freeman, Senior Executive Vice President and Chief Administrative Officer, departed the meeting. Representatives of Sullivan & Cromwell then discussed the updates to the executive employee arrangements discussed at the October 21, 2025 meeting of the Cadence Board. The representatives then noted that there had been no material changes to the terms of the definitive merger agreement since the October 21, 2025 meeting of the Cadence Board and provided the Cadence Board with a summary of the form of the board resolutions for the approval of the proposed transaction included in the presentation materials made available to the Cadence Board prior to the meeting. Throughout the presentations, Mr. Rollins, and representatives of each of KBW and Sullivan & Cromwell, addressed a number of questions from directors. Following this questioning, the Cadence Board further discussed the potential advantages and risks to Cadence of the proposed merger. At the conclusion of the discussion, during which the Cadence Board considered the matters reviewed and discussed at that meeting and all prior meetings, including the factors described under the section of this joint proxy statement/prospectus entitled “Summary—Cadence’s Reasons for the Merger; Recommendation of the Cadence Board of Directors,” the Cadence Board unanimously determined that the merger agreement and the transactions contemplated by the merger agreement were consistent with, and will further, the business strategies of Cadence and were advisable and fair to and in the best interests of Cadence and its common shareholders, and adopted the merger agreement and approved the merger and the other arrangements contemplated by the merger agreement and recommended that Cadence common shareholders approve the merger agreement.

On October 26, 2025, a joint meeting of the Huntington Board and Huntington National Bank Board was held to receive an update and final discussion regarding the potential transaction with Cadence, which members of management and representatives of Wachtell Lipton and Evercore attended. Prior to the meeting, a variety of presentation materials — including an updated financial analysis prepared by Evercore incorporating changes in the market environment from