|
Share Based Compensation (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| 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, 2014, 2013, and 2012:
|
|
|
2014 |
|
|
|
2013 |
|
|
|
2012 |
|
| Assumptions |
|
|
|
|
|
|
|
|
|
|
|
|
Risk-free interest rate |
|
1.69 |
% |
|
|
0.79 |
% |
|
|
1.10 |
% |
|
Expected dividend yield |
|
2.61 |
|
|
|
2.83 |
|
|
|
2.38 |
|
|
Expected volatility of Huntington's common stock |
|
32.3 |
|
|
|
35.0 |
|
|
|
34.9 |
|
|
Expected option term (years) |
|
5.0 |
|
|
|
5.5 |
|
|
|
6.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average grant date fair value per share |
$ |
2.13 |
|
|
$ |
1.71 |
|
|
$ |
1.78 |
|
|
| 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, 2014, 2013, and 2012:
| (dollar amounts in thousands) |
|
2014 |
|
|
|
2013 |
|
|
|
2012 |
|
| Share-based compensation expense |
$ |
43,666 |
|
|
$ |
37,007 |
|
|
$ |
27,873 |
|
| Tax benefit |
|
14,779 |
|
|
|
12,472 |
|
|
|
9,298 |
|
|
| Stock option activity and related information |
Huntington’s stock option activity and related information for the year ended December 31, 2014, 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, 2014 |
|
23,300 |
|
$ |
7.61 |
|
|
|
|
|
|
| Granted |
|
1,807 |
|
|
9.22 |
|
|
|
|
|
|
| Assumed |
|
214 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
(3,528) |
|
|
6.02 |
|
|
|
|
|
|
| Forfeited/expired |
|
(2,174) |
|
|
17.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2014 |
|
19,619 |
|
$ |
6.99 |
|
|
3.9 |
|
$ |
75,794 |
|
|
|
|
|
|
|
|
|
|
|
|
| Expected to vest at December 31, 2014 (1) |
|
4,950 |
|
$ |
7.64 |
|
|
5.4 |
|
$ |
14,272 |
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable at December 31, 2014 |
|
14,193 |
|
$ |
6.73 |
|
|
3.3 |
|
$ |
60,311 |
| (1) The number of options expected to vest includes an estimate of 476 thousand shares expected to be forfeited. |
|
| Summary of restricted stock units and restricted stock awards |
|
|
|
|
|
Weighted- |
|
|
|
|
Weighted- |
|
|
|
|
Weighted- |
|
|
|
|
|
Average |
|
|
|
|
Average |
|
|
|
|
Average |
|
|
Restricted |
|
|
Grant Date |
|
Restricted |
|
|
Grant Date |
|
Performance |
|
|
Grant Date |
|
|
Stock |
|
|
Fair Value |
|
Stock |
|
|
Fair Value |
|
Share |
|
|
Fair Value |
| (amounts in thousands, except per share amounts) |
|
Awards |
|
|
Per Share |
|
Units |
|
|
Per Share |
|
Awards |
|
|
Per Share |
| Nonvested at January 1, 2014 |
|
--- |
|
$ |
--- |
|
12,064 |
|
$ |
6.80 |
|
1,646 |
|
$ |
6.95 |
| Granted |
|
--- |
|
|
--- |
|
4,600 |
|
|
9.12 |
|
1,076 |
|
|
8.96 |
| Assumed |
|
27 |
|
|
--- |
|
--- |
|
|
--- |
|
--- |
|
|
--- |
| Vested |
|
(14) |
|
|
9.53 |
|
(4,003) |
|
|
6.39 |
|
--- |
|
|
--- |
| Forfeited |
|
(1) |
|
|
9.53 |
|
(757) |
|
|
7.54 |
|
(143) |
|
|
7.26 |
| Nonvested at December 31, 2014 |
|
12 |
|
|
9.53 |
|
11,904 |
|
$ |
7.79 |
|
2,579 |
|
$ |
7.76 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of options by exercise price range |
The following table presents additional information regarding options outstanding as of December 31, 2014
| (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 |
|
1,843 |
|
|
1.6 |
|
$ |
4.64 |
|
|
1,836 |
|
$ |
4.64 |
| $5.64 to $6.02 |
|
7,110 |
|
|
3.6 |
|
|
6.02 |
|
|
7,078 |
|
|
6.02 |
| $6.03 to $15.95 |
|
10,087 |
|
|
4.7 |
|
|
7.26 |
|
|
4,700 |
|
|
6.78 |
| $15.96 to $22.73 |
|
579 |
|
|
0.7 |
|
|
21.74 |
|
|
579 |
|
|
21.74 |
| Total |
|
19,619 |
|
|
3.9 |
|
$ |
6.99 |
|
|
14,193 |
|
$ |
6.73 |
|