Annual report pursuant to Section 13 and 15(d)

Share Based Compensation (Tables)

v2.4.0.8
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