Annual report pursuant to Section 13 and 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.22.0.1
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2021
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, 2021, 2020, and 2019:
(dollar amounts in millions) 2021 2020 2019
Share-based compensation expense $ 138  $ 77  $ 83 
Tax benefit 22  13  15 
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, 2021, 2020, and 2019:
Assumptions 2021 2020 2019
Risk-free interest rate 1.25  % 0.48  % 2.41  %
Expected dividend yield 3.74  6.98  4.36 
Expected volatility of Huntington’s common stock 36.8  39.7  22.5 
Expected option term (years) 6.5 6.5 6.5
Weighted-average grant date fair value per share $ 3.93  $ 1.49  $ 1.91 
Stock option activity and related information
Huntington’s stock option activity and related information for the year ended December 31, 2021, 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, 2021 14,152  $ 11.55 
Granted 1,883  16.04 
Assumed 844  12.02 
Exercised (1,850) 10.36 
Forfeited/expired (563) 11.01 
Outstanding at December 31, 2021 14,466  $ 12.34  6.9 $ 46 
Expected to vest (1) 6,795  $ 12.23  5.7 $ 23 
Exercisable at December 31, 2021 7,531  $ 12.43  8.2 $ 23 
(1)The number of options expected to vest reflect an estimate of 140,000 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, restricted stock units, and performance share units as of December 31, 2021, and activity for the year ended December 31, 2021:
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, 2021 —  $ —  16,652  $ 12.05  3,275  $ 11.74 
Granted —  —  4,422  15.71  1,405  16.08 
Assumed (1) 690  14.54  6,691  14.72  —  — 
Vested (321) 14.63  (7,686) 14.41  (1,340) 14.76 
Forfeited (13) 14.45  (981) 12.72  (214) 11.42 
Nonvested at December 31, 2021 356  $ 14.46  19,098  $ 12.85  3,126  $ 12.06 
(1) Weighted-average grant date fair value per share represents the fair value per share on the acquisition date.