Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.19.3.a.u2
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [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, 2019, 2018, and 2017:
(dollar amounts in millions)
2019
 
2018
 
2017
Share-based compensation expense
$
83

 
$
78

 
$
92

Tax benefit
15

 
14

 
32


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, 2019, 2018, and 2017:
Assumptions
2019
 
2018
 
2017
Risk-free interest rate
2.41
%
 
2.88
%
 
2.04
%
Expected dividend yield
4.36

 
3.71

 
3.31

Expected volatility of Huntington’s common stock
22.5

 
24.0

 
29.5

Expected option term (years)
6.5

 
6.5

 
6.5

Weighted-average grant date fair value per share
$
1.91

 
$
2.58

 
$
2.81


Stock option activity and related information
Huntington’s stock option activity and related information for the year ended December 31, 2019, 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, 2019
10,617

 
$
10.64

 
 
 
 
Granted
3,211

 
13.77

 
 
 
 
Exercised
(2,440
)
 
7.28

 
 
 
 
Forfeited/expired
(79
)
 
14.08

 
 
 
 
Outstanding at December 31, 2019
11,309

 
$
12.23

 
6.7
 
$
32

Expected to vest (1)
5,955

 
$
13.77

 
8.6
 
$
8

Exercisable at December 31, 2019
5,195

 
$
10.42

 
4.5
 
$
24

(1)
The number of options expected to vest reflect an estimate of 159,000 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, 2019, and activity for the year ended December 31, 2019:
 
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, 2019
201

 
$
9.68

 
15,480

 
$
12.51

 
2,958

 
$
11.75

Granted
—

 
—

 
5,581

 
13.93

 
680

 
13.77

Vested
(199
)
 
9.68

 
(5,267
)
 
11.17

 
(854
)
 
10.07

Forfeited
(2
)
 
9.68

 
(505
)
 
13.47

 
(15
)
 
14.30

Nonvested at December 31, 2019
—

 
$
—

 
15,289

 
$
13.42

 
2,769

 
$
13.49