Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.8.0.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share based compensation expense and related tax benefit
The following table presents total share-based compensation expense and related tax benefit for the three years ended December 31, 2017, 2016, and 2015:
(dollar amounts in millions)
2017
 
2016
 
2015
Share-based compensation expense
$
92

 
$
66

 
$
51

Tax benefit
32

 
22

 
18

Weighted average assumptions used in the option pricing model
The following table presents the weighted average assumptions used in the option-pricing model at the grant date for options granted in the three years ended December 31, 2017, 2016, and 2015:
 
2017
 
2016
 
2015
Assumptions
 
 
 
 
 
Risk-free interest rate
2.04
%
 
1.63
%
 
2.13
%
Expected dividend yield
3.31

 
3.18

 
2.57

Expected volatility of Huntington’s common stock
29.5

 
30.0

 
29.0

Expected option term (years)
6.5

 
6.5

 
6.5

Weighted-average grant date fair value per share
$
2.81

 
$
2.17

 
$
2.57

Stock option activity and related information
Huntington’s stock option activity and related information for the year ended December 31, 2017, was as follows:
(dollar amounts in millions, except per share and options amounts)
Options
(in thousands)
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Life (Years)
 
Aggregate
Intrinsic Value
Outstanding at January 1, 2017
14,874

 
$
7.50

 
 
 
 
Granted
1,486

 
13.09

 
 
 
 
Exercised
(2,372
)
 
6.72

 
 
 
 
Forfeited/expired
(70
)
 
11.17

 
 
 
 
Outstanding at December 31, 2017
13,918

 
$
8.21

 
3.5
 
$
88

Expected to vest (1)
3,508

 
$
11.33

 
8.0
 
$
11

Exercisable at December 31, 2017
10,311

 
$
7.11

 
1.9
 
$
77

(1)
The number of options expected to vest includes an estimate of 99 thousand shares expected to be forfeited.
Schedule of restricted stock, restricted stock units, and performance shares
The following table summarizes the status of Huntington’s restricted stock units and performance share awards as of December 31, 2017, and activity for the year ended December 31, 2017:
 
Restricted Stock Awards
 
Restricted Stock Units
 
Performance Share Awards
(amounts in thousands, except per share amounts)
Quantity
 
Weighted-
Average
Grant Date
Fair Value
Per Share
 
Quantity
 
Weighted-
Average
Grant Date
Fair Value
Per Share
 
Quantity
 
Weighted-
Average
Grant Date
Fair Value
Per Share
Nonvested at January 1, 2017 (000)
656

 
$
9.68

 
14,733

 
$
9.61

 
3,307

 
$
9.63

Granted
—

 
—

 
6,232

 
13.45

 
1,278

 
12.18

Assumed
—

 
—

 
—

 
—

 
—

 
—

Vested
(174
)
 
9.68

 
(4,267
)
 
8.72

 
(1,550
)
 
9.00

Forfeited
(34
)
 
9.68

 
(539
)
 
10.91

 
(17
)
 
11.07

Nonvested at December 31, 2017 (000)
448

 
$
9.68

 
16,159

 
$
11.26

 
3,018

 
$
10.67