Huntington Bancshares Incorporated Definitive proxy statements

Definitive proxy statements

Pay vs Performance Disclosure

Pay vs Performance Disclosure

12 Months Ended

24 Months Ended

36 Months Ended

48 Months Ended

60 Months Ended

Dec. 31, 2024

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

Dec. 31, 2021

USD ($)

Dec. 31, 2022

USD ($)

Dec. 31, 2023

USD ($)

Dec. 31, 2024

USD ($)

Pay vs Performance Disclosure [Table]

Pay vs Performance Disclosure, Table

Pay Versus Performance Disclosure

In accordance with rules adopted by the Securities and Exchange Commission (“SEC”) pursuant to the Dodd-Frank Act of 2010, we provide the following disclosure regarding executive “Compensation Actually Paid” (“CAP”) and certain performance measures for the fiscal years listed below. The Compensation Discussion & Analysis (“CD&A”) describes the process for determining compensation for our NEOs, which is independent from the information required to be disclosed in this table.

Pay Versus Performance Table

The following table provides the information required for our NEOs for each of the fiscal years ended December 31, 2024, December 31, 2023, December 31, 2022, December 31, 2021, and December 31, 2020 along with the required financial information required for each fiscal year:


	Summary Compensation Table Total for Stephen D. Steinour⁽¹⁾⁽²⁾ ($)		Compensation Actually Paid to Stephen D. Steinour⁽²⁾⁽³⁾ ($)		Average Summary Compensation Table Total for Non-CEO NEOs⁽²⁾⁽⁴⁾ ($)		Average Compensation Actually Paid to		Year-end value of $100 invested on 12/31/2019 in⁽⁵⁾:
Year			Compensation Actually Paid to Stephen D. Steinour⁽²⁾⁽³⁾ ($)				Non-CEO NEOs^(2)(3)(4) ($)		HBAN ($)		KBW Bank Index ($)		Net Income (in millions) ($)		Adjusted ROTCE⁽⁶⁾ (%)
2024		10,025,663		19,787,509		4,164,454		6,916,414		138		133		1,940		16.0
2023		10,179,479		6,345,581		4,221,497		3,327,271		103		97		1,951		19.4
2022		10,484,975		9,855,779		4,798,856		4,883,351		108		98		2,238		21.5
2021		9,619,178		21,563,268		4,985,771		7,855,544		113		124		1,295		19.1
2020		8,007,682		6,524,537		3,181,470		3,637,101		89		90		817		8.9

Company Selected Measure Name

Adjusted ROTCE

Named Executive Officers, Footnote

(1)	Stephen D. Steinour has been Chairman, President, and CEO Huntington and President and CEO of Huntington Bank since January 2009.

PEO Total Compensation Amount

$ 10,025,663

$ 10,179,479

$ 10,484,975

$ 9,619,178

$ 8,007,682

PEO Actually Paid Compensation Amount

$ 19,787,509

6,345,581

9,855,779

21,563,268

6,524,537

Adjustment To PEO Compensation, Footnote

(2)	Adjustments to total compensation in the Summary Compensation Table to calculate Compensation Actually Paid are shown below. Previously reported amounts for 2022 and 2023 have been revised in select instances in order to incorporate administrative updates.

	2024		2023		2022		2021		2020
	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)
Total Compensation from Summary Compensation Table	10,025,663	4,164,454	10,179,479	4,221,497	10,484,975	4,798,856	9,619,178	4,985,771	8,007,682	3,181,470
Adjustments for Pension
Adjustment Summary Compensation Table Pension	—	(4,186)	(77,639)	(6,274)	—	—	—	—	(203,536)	—
Amount added for current year service cost	—	—	—	—	—	—	—	—	—	—
Amount added for prior service cost impacting current year	—	—	—	—	—	—	—	—	—	—
Total Adjustments for Pension	—	(4,186)	(77,639)	(6,274)	—	—	—	—	(203,536)	—
Adjustments for Equity Awards
Adjustment for grant date values in the Summary Compensation Table	(5,999,994)	(2,237,492)	(5,999,987)	(2,012,486)	(5,499,988)	(2,643,460)	(5,249,976)	(899,994)	(4,499,995)	(1,374,990)
Year-end fair value of unvested awards granted in the current year	8,364,596	3,088,199	5,674,761	1,889,178	7,062,267	3,086,231	7,194,912	2,134,340	8,935,881	2,703,746
Year-over-year difference of year-end fair values for unvested awards granted in prior years	6,855,240	1,699,682	(995,770)	(288,946)	(1,101,353)	(241,953)	7,505,837	1,177,160	(1,714,840)	(361,670)
Fair values at vest date for awards granted and vested in current year	—	—	—	—	—	—	—	—	—	—
Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years	542,005	205,757	(2,435,263)	(475,699)	(1,090,122)	(116,323)	2,493,318	458,266	(4,000,655)	(511,456)

2024

2023

2022

2021

2020

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Forfeitures during current year equal to prior year-end fair value

—

Dividends or dividend equivalents not otherwise included in total compensation

—

Total Adjustments for Equity Awards

9,761,847

2,756,146

(3,756,259)

(887,953)

(629,196)

84,495

11,944,090

2,869,773

(1,279,609)

455,631

Compensation Actually Paid (as calculated)

19,787,509

6,916,414

6,345,581

3,327,271

9,855,779

4,883,351

21,563,268

7,855,544

6,524,537

3,637,101

Non-PEO NEO Average Total Compensation Amount

$ 4,164,454

4,221,497

4,798,856

4,985,771

3,181,470

Non-PEO NEO Average Compensation Actually Paid Amount

$ 6,916,414

3,327,271

4,883,351

7,855,544

3,637,101

Adjustment to Non-PEO NEO Compensation Footnote

(2)	Adjustments to total compensation in the Summary Compensation Table to calculate Compensation Actually Paid are shown below. Previously reported amounts for 2022 and 2023 have been revised in select instances in order to incorporate administrative updates.

	2024		2023		2022		2021		2020
	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)	Steinour, Stephen D. ($)	Average Non-CEO NEOs ($)
Total Compensation from Summary Compensation Table	10,025,663	4,164,454	10,179,479	4,221,497	10,484,975	4,798,856	9,619,178	4,985,771	8,007,682	3,181,470
Adjustments for Pension
Adjustment Summary Compensation Table Pension	—	(4,186)	(77,639)	(6,274)	—	—	—	—	(203,536)	—
Amount added for current year service cost	—	—	—	—	—	—	—	—	—	—
Amount added for prior service cost impacting current year	—	—	—	—	—	—	—	—	—	—
Total Adjustments for Pension	—	(4,186)	(77,639)	(6,274)	—	—	—	—	(203,536)	—
Adjustments for Equity Awards
Adjustment for grant date values in the Summary Compensation Table	(5,999,994)	(2,237,492)	(5,999,987)	(2,012,486)	(5,499,988)	(2,643,460)	(5,249,976)	(899,994)	(4,499,995)	(1,374,990)
Year-end fair value of unvested awards granted in the current year	8,364,596	3,088,199	5,674,761	1,889,178	7,062,267	3,086,231	7,194,912	2,134,340	8,935,881	2,703,746
Year-over-year difference of year-end fair values for unvested awards granted in prior years	6,855,240	1,699,682	(995,770)	(288,946)	(1,101,353)	(241,953)	7,505,837	1,177,160	(1,714,840)	(361,670)
Fair values at vest date for awards granted and vested in current year	—	—	—	—	—	—	—	—	—	—
Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years	542,005	205,757	(2,435,263)	(475,699)	(1,090,122)	(116,323)	2,493,318	458,266	(4,000,655)	(511,456)

2024

2023

2022

2021

2020

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Steinour,
Stephen D.
($)

Average
Non-CEO
NEOs
($)

Forfeitures during current year equal to prior year-end fair value

—

Dividends or dividend equivalents not otherwise included in total compensation

—

Total Adjustments for Equity Awards

9,761,847

2,756,146

(3,756,259)

(887,953)

(629,196)

84,495

11,944,090

2,869,773

(1,279,609)

455,631

Compensation Actually Paid (as calculated)

19,787,509

6,916,414

6,345,581

3,327,271

9,855,779

4,883,351

21,563,268

7,855,544

6,524,537

3,637,101

Equity Valuation Assumption Difference, Footnote [Text Block]

For Stock Options Vesting in

Weighted Average Fair Value
Awards Vesting in

2024

2023

2022

2021

2020

2024

2023

2022

2021

2020

Expected volatility

34%–36%

41%–46%

39%–46%

38%–44%

33%–35%

Expected dividend yield

4.5%–4.6%

5.6%–5.8%

4.0%–4.7%

3.9%–4.1%

7.0%

For Restricted Share and RSUs

$13.95

$11.22

$14.12

$14.81

$9.58

Expected term, in years

3.0–3.5

3.0–4.0

3.0–4.5

For Performance Share Awards

$13.34

$10.99

$13.15

$15.32

$8.57

Risk-free interest rate

4.4%–4.8%

3.6%–3.9%

2.6%–2.9%

0.2%–0.9%

0.3%–0.4%

Compensation Actually Paid vs. Total Shareholder Return [Text Block]

CAP versus Indexed Total Shareholder Return

Compensation Actually Paid vs. Net Income [Text Block]

CAP versus Net Income

Compensation Actually Paid vs. Company Selected Measure [Text Block]

CAP versus Adjusted ROTCE*

Tabular List [Table Text Block]

Tabular List of Financial Performance Measures

As described in greater detail in the CD&A, we have a significant focus on pay-for-performance. The most important financial performance measures used to link CAP (as calculated in accordance with the SEC rules), to our NEOs in 2024 to our performance were: