Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.10.0.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2018
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, 2018, 2017, and 2016:
(dollar amounts in millions)
2018
 
2017
 
2016
Share-based compensation expense
$
78

 
$
92

 
$
66

Tax benefit
14

 
32

 
22

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, 2018, 2017, and 2016:
Assumptions
2018
 
2017
 
2016
Risk-free interest rate
2.88
%
 
2.04
%
 
1.63
%
Expected dividend yield
3.71

 
3.31

 
3.18

Expected volatility of Huntington’s common stock
24.0

 
29.5

 
30.0

Expected option term (years)
6.5

 
6.5

 
6.5

Weighted-average grant date fair value per share
$
2.58

 
$
2.81

 
$
2.17

Stock option activity and related information
Huntington’s stock option activity and related information for the year ended December 31, 2018, was as follows:
(dollar amounts in millions, except per share and options amounts in thousands)
Options
 
Weighted-
Average
Exercise Price
 
Weighted-Average
Remaining
Contractual Life (Years)
 
Aggregate
Intrinsic Value
Outstanding at January 1, 2018
13,918

 
$
8.21

 
 
 
 
Granted
2,538

 
14.81

 
 
 
 
Exercised
(5,775
)
 
6.57

 
 
 
 
Forfeited/expired
(64
)
 
13.31

 
 
 
 
Outstanding at December 31, 2018
10,617

 
$
10.64

 
5.4
 
$
22

Expected to vest (1)
4,503

 
$
13.36

 
8.6
 
$
2

Exercisable at December 31, 2018
5,981

 
$
8.52

 
3.0
 
$
21

(1)
The number of options expected to vest reflects an estimate of 133,000 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 awards, units, and performance share units as of December 31, 2018, and activity for the year ended December 31, 2018:
 
Restricted Stock Awards
 
Restricted Stock Units
 
Performance Share Units
(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, 2018
448

 
$
9.68

 
16,159

 
$
11.26

 
3,018

 
$
10.67

Granted
—

 
—

 
4,743

 
15.01

 
691

 
14.81

Vested
(227
)
 
9.68

 
(4,948
)
 
10.56

 
(719
)
 
10.89

Forfeited
(20
)
 
9.68

 
(474
)
 
12.32

 
(32
)
 
12.27

Nonvested at December 31, 2018
201

 
$
9.68

 
15,480

 
$
12.51

 
2,958

 
$
11.75