|
Share Based Compensation (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
| 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, 2012, 2011, and 2010:
| |
|
|
2012 |
|
|
|
2011 |
|
|
|
2010 |
|
| Assumptions |
|
|
|
|
|
|
|
|
|
|
|
| |
Risk-free interest rate |
|
1.10 |
% |
|
|
1.95 |
% |
|
|
2.30 |
% |
| |
Expected dividend yield |
|
2.38 |
|
|
|
2.63 |
|
|
|
0.68 |
|
| |
Expected volatility of Huntington's common stock |
|
34.9 |
|
|
|
30.0 |
|
|
|
38.5 |
|
| |
Expected option term (years) |
|
6.0 |
|
|
|
6.0 |
|
|
|
6.0 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average grant date fair value per share |
$ |
1.78 |
|
|
$ |
1.40 |
|
|
$ |
2.20 |
|
|
| 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, 2012, 2011, and 2010:
| (dollar amounts in thousands) |
|
2012 |
|
|
|
2011 |
|
|
|
2010 |
|
| Share-based compensation expense |
$ |
27,873 |
|
|
$ |
19,666 |
|
|
$ |
15,453 |
|
| Tax benefit |
|
9,298 |
|
|
|
6,708 |
|
|
|
5,408 |
|
|
| Stock option activity and related information |
Huntington's stock option activity and related information for the year ended December 31, 2012, 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, 2012 |
|
27,205 |
|
$ |
11.47 |
|
|
|
|
|
|
| Granted |
|
5,920 |
|
|
6.71 |
|
|
|
|
|
|
| Exercised |
|
(520) |
|
|
4.33 |
|
|
|
|
|
|
| Forfeited/expired |
|
(5,837) |
|
|
19.21 |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2012 |
|
26,768 |
|
$ |
8.87 |
|
|
4.5 |
|
$ |
9,449 |
| |
|
|
|
|
|
|
|
|
|
|
|
| Vested and expected to vest at December 31, 2012 (1) |
|
12,322 |
|
$ |
6.26 |
|
|
5.8 |
|
$ |
3,388 |
| |
|
|
|
|
|
|
|
|
|
|
|
| Exercisable at December 31, 2012 |
|
13,037 |
|
$ |
11.61 |
|
|
3.1 |
|
$ |
5,749 |
| (1) The number of options expected to vest includes an estimate of expected forfeitures. |
|
| Summary of restricted stock units and restricted stock awards |
The following table summarizes the status of Huntington's restricted stock units and performance share awards as of December 31, 2012, and activity for the year ended December 31, 2012:
| |
|
|
|
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, 2012 |
7,591 |
|
$ |
6.09 |
|
--- |
|
$ |
--- |
| Granted |
2,994 |
|
|
6.68 |
|
694 |
|
|
6.77 |
| Vested |
(1,647) |
|
|
5.53 |
|
--- |
|
|
--- |
| Forfeited |
(454) |
|
|
6.24 |
|
--- |
|
|
--- |
| Nonvested at December 31, 2012 |
8,484 |
|
$ |
6.40 |
|
694 |
|
$ |
6.77 |
| |
|
|
|
|
|
|
|
|
|
|
| Summary of options by exercise price range |
The following table presents additional information regarding options outstanding as of December 31, 2012
| (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 |
|
2,968 |
|
|
3.8 |
|
$ |
4.54 |
|
|
2,201 |
|
$ |
4.39 |
| $5.64 to $6.02 |
|
10,120 |
|
|
5.6 |
|
|
6.02 |
|
|
3,373 |
|
|
6.02 |
| $6.03 to $15.95 |
|
8,600 |
|
|
5.5 |
|
|
6.75 |
|
|
2,383 |
|
|
6.91 |
| $15.96 to $24.56 |
|
5,080 |
|
|
1.1 |
|
|
20.65 |
|
|
5,080 |
|
|
20.65 |
| Total |
|
26,768 |
|
|
4.5 |
|
$ |
8.87 |
|
|
13,037 |
|
$ |
11.61 |
|