Company: HBAN
Filing Date: 2025-08-15
Form Type: 424B3
Source: 0001140361-25-031511
Chunk: 96

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-15
Form: 424B3
Chunk 96
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 a cash payment equal to eighteen (18) months of the COBRA premium in effect at the time the executive’s involuntary termination. The cash amounts payable to the named executive officers under the employment agreements and to Mr. Earley under the consulting agreement are “double-trigger”, meaning that they are only payable upon a qualifying termination in connection with the merger. For Mr. Earley, a portion of the fee for his retention bonus rendered in connection with the merger equal to $1,000,000 (i.e., “single-trigger”) that will become payable upon the closing date under the Earley retention agreement, as described in the section entitled “—Huntington Retention Agreement with Terry S. Earley” and $123,750.00 of fees payable to Mr. Earley under his consulting agreement upon the early termination of the consulting period as described above in “—Veritex Employment Agreements—Consulting Agreement of Terry S. Earley” (i.e., “double-trigger”).

| (3) | Equity. As described in “—Treatment of Outstanding Veritex Equity Awards,” at the effective time, each outstanding time-vesting restricted stock unit award granted prior to July 13, 2025 and held by a named executive officer will accelerate fully upon the closing of the merger (i.e., “single-trigger”), subject to the executive’s employment through the effective time, and each performance-vesting restricted stock unit award granted prior to July 13, 2025 and held by a named executive officer will vest at 100% of target upon the closing of the merger (i.e., “single-trigger”), subject to the executive’s continued employment through the effective time. All options to purchase shares of Veritex common stock are fully vested and, accordingly, no amounts payable in respect of such options are included in the table above. |

The components of the amounts shown under the “Equity” in the table above are set forth below:

| Name                    |     |      Accelerated 
          Veritex 
 Restricted Stock 
      Unit Awards 
              ($) |     |      Accelerated 
      Performance 
          Veritex 
 Restricted Stock 
      Unit Awards 
              ($) |     |         Total 
           ($) |
| C. Malcolm Holland, III |     |    $4,551,790.32 |     |    $2,499,946.68 |     | $7,051,737.00 |
| Terry S. Earley         |     |               $