Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.3.1.900
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Weighted average assumptions used in the option pricing model
The following table presents the weighted average assumptions used in the option-pricing model for options granted in the three years ended December 31, 2015, 2014, and 2013:
 
 
2015
 
 
2014
 
 
2013
 
Assumptions
 
 
 
 
 
 
 
 
Risk-free interest rate
2.13
%
 
1.69
%
 
0.79
%
Expected dividend yield
2.57
 
 
2.61
 
 
2.83
 
Expected volatility of Huntington’s common stock
29.0
 
 
32.3
 
 
35.0
 
Expected option term (years)
6.5
 
 
5.0
 
 
5.5
 
Weighted-average grant date fair value per share
$
2.57
 
 
$
2.13
 
 
$
1.71
 
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, 2015, 2014, and 2013:
 
(dollar amounts in thousands)
2015
 
 
2014
 
 
2013
 
Share-based compensation expense
$
51,415

 
 
$
43,666

 
 
$
37,007

 
Tax benefit
17,618

 
 
14,779

 
 
12,472

 
Stock option activity and related information
Huntington’s stock option activity and related information for the year ended December 31, 2015, was as follows:
 
(amounts in thousands, except years and per share amounts)
Options
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Life (Years)
 
Aggregate
Intrinsic Value
Outstanding at January 1, 2015
19,619

 
$
6.99

 
 
 
 
Granted
1,249

 
10.89

 
 
 
 
Assumed
—

 
 
 
 
 
 
Exercised
(4,269
)
 
6.01

 
 
 
 
Forfeited/expired
(478
)
 
17.31

 
 
 
 
Outstanding at December 31, 2015
16,121

 
$
7.25

 
3.7
 
$
64,180

Expected to vest (1)
3,499

 
$
9.02

 
6.3
 
$
7,154

Exercisable at December 31, 2015
12,299

 
$
6.69

 
2.9
 
$
56,450

 
(1)
The number of options expected to vest includes an estimate of 323 thousand shares expected to be forfeited.
Summary of options by exercise price range
The following table presents additional information regarding options outstanding as of December 31, 2015:
 
(amounts in thousands, except years and per share amounts)
Options Outstanding
 
 
 
Exercisable Options
Weighted-
Range of
Exercise Prices
Shares
 
Weighted-
Average
Remaining
Contractual
Life (Years)
 
Weighted-
Average
Exercise
Price
 
Shares
 
Weighted-
Average
Exercise
Price
$0 to $5.63
704

 
1.2
 
$
4.30

 
704

 
$
4.30

$5.64 to $6.02
5,666

 
2.6
 
6.02

 
5,666

 
6.02

$6.03 to $15.95
9,482

 
4.6
 
6.98

 
5,660

 
6.98

$15.96 and over
269

 
0.3
 
21.07

 
269

 
21.07

Total
16,121

 
3.7
 
$
7.25

 
12,299

 
$
6.69

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, 2015, and activity for the year ended December 31, 2015:
 
 
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, 2015
12

 
$
9.53

 
11,904

 
$
7.79

 
2,579

 
$
7.76

Granted
—

 
—

 
4,550

 
10.84

 
883

 
10.94

Assumed
—

 
—

 
—

 
—

 
—

 
—

Vested
(3
)
 
9.53

 
(3,785
)
 
7.11

 
(513
)
 
6.77

Forfeited
(2
)
 
9.53

 
(499
)
 
8.53

 
(56
)
 
6.88

Nonvested at December 31, 2015
7

 
$
9.53

 
12,170

 
$
9.11

 
2,893

 
$
8.99