|
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:
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|
|
|
|
|
|
|
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 |
|