Share Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2013
|
Share-Based Compensation [Abstract] |
|
Weighted average assumptions used in the option pricing model |
The following table illustrates the weighted average assumptions used in the option-pricing model for options granted in the three years ended December 31, 2013, 2012, and 2011:
|
|
|
2013 |
|
|
|
2012 |
|
|
|
2011 |
|
Assumptions |
|
|
|
|
|
|
|
|
|
|
|
|
Risk-free interest rate |
|
0.79 |
% |
|
|
1.10 |
% |
|
|
1.95 |
% |
|
Expected dividend yield |
|
2.83 |
|
|
|
2.38 |
|
|
|
2.63 |
|
|
Expected volatility of Huntington's common stock |
|
35.0 |
|
|
|
34.9 |
|
|
|
30.0 |
|
|
Expected option term (years) |
|
5.5 |
|
|
|
6.0 |
|
|
|
6.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average grant date fair value per share |
$ |
1.71 |
|
|
$ |
1.78 |
|
|
$ |
1.40 |
|
|
Share based compensation expense and related tax benefit |
The following table illustrates total share-based compensation expense and related tax benefit for the three years ended December 31, 2013, 2012, and 2011:
(dollar amounts in thousands) |
|
2013 |
|
|
|
2012 |
|
|
|
2011 |
|
Share-based compensation expense |
$ |
37,007 |
|
|
$ |
27,873 |
|
|
$ |
19,666 |
|
Tax benefit |
|
12,472 |
|
|
|
9,298 |
|
|
|
6,708 |
|
|
Stock option activity and related information |
Huntington's stock option activity and related information for the year ended December 31, 2013, was as follows:
|
|
|
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
Weighted- |
|
|
Average |
|
|
|
|
|
|
|
|
Average |
|
|
Remaining |
|
|
Aggregate |
|
|
|
|
|
Exercise |
|
|
Contractual |
|
|
Intrinsic |
(amounts in thousands, except years and per share amounts) |
|
Options |
|
|
Price |
|
|
Life (Years)
|
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at January 1, 2013 |
|
26,768 |
|
$ |
8.87 |
|
|
|
|
|
|
Granted |
|
3,299 |
|
|
7.07 |
|
|
|
|
|
|
Exercised |
|
(2,498) |
|
|
5.77 |
|
|
|
|
|
|
Forfeited/expired |
|
(4,269) |
|
|
16.17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at December 31, 2013 |
|
23,300 |
|
$ |
7.61 |
|
|
4.2 |
|
$ |
71,702 |
|
|
|
|
|
|
|
|
|
|
|
|
Expected to vest at December 31, 2013 (1) |
|
8,893 |
|
$ |
6.55 |
|
|
5.3 |
|
$ |
27,606 |
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable at December 31, 2013 |
|
13,536 |
|
$ |
8.37 |
|
|
3.4 |
|
$ |
41,570 |
(1) The number of options expected to vest includes an estimate of 871 shares expected to be forfeited. |
|
Summary of restricted stock units and restricted stock awards |
|
|
|
|
Weighted- |
|
|
|
|
Weighted- |
|
|
|
|
Average |
|
|
|
|
Average |
|
Restricted |
|
|
Grant Date |
|
Performance |
|
|
Grant Date |
|
Stock |
|
|
Fair Value |
|
Share |
|
|
Fair Value |
(amounts in thousands, except per share amounts) |
Units |
|
|
Per Share |
|
Awards |
|
|
Per Share |
Nonvested at January 1, 2013 |
8,484 |
|
$ |
6.40 |
|
694 |
|
$ |
6.77 |
Granted |
6,878 |
|
|
7.13 |
|
1,125 |
|
|
7.06 |
Vested |
(2,472) |
|
|
6.35 |
|
--- |
|
|
--- |
Forfeited |
(826) |
|
|
6.72 |
|
(173) |
|
|
6.91 |
Nonvested at December 31, 2013 |
12,064 |
|
$ |
6.80 |
|
1,646 |
|
$ |
6.95 |
|
|
|
|
|
|
|
|
|
|
|
Summary of options by exercise price range |
The following table presents additional information regarding options outstanding as of December 31, 2013
(amounts in thousands, except years and per share amounts) |
Options Outstanding |
|
|
Exercisable Options |
|
|
|
|
|
Weighted- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average |
|
|
Weighted- |
|
|
|
|
|
Weighted- |
|
|
|
|
|
Remaining |
|
|
Average |
|
|
|
|
|
Average |
Range of |
|
|
|
|
Contractual |
|
|
Exercise |
|
|
|
|
|
Exercise |
Exercise Prices |
|
Shares |
|
|
Life (Years)
|
|
|
Price |
|
|
Shares |
|
|
Price |
$0 to $5.63 |
|
2,221 |
|
|
2.6 |
|
$ |
4.60 |
|
|
1,896 |
|
$ |
4.53 |
$5.64 to $6.02 |
|
8,623 |
|
|
4.4 |
|
|
6.02 |
|
|
5,681 |
|
|
6.02 |
$6.03 to $15.95 |
|
10,265 |
|
|
5.1 |
|
|
6.82 |
|
|
3,768 |
|
|
6.71 |
$15.96 to $24.56 |
|
2,191 |
|
|
0.8 |
|
|
20.64 |
|
|
2,191 |
|
|
20.64 |
Total |
|
23,300 |
|
|
4.2 |
|
$ |
7.61 |
|
|
13,536 |
|
$ |
8.37 |
|