Huntington Bancshares Inc. DEF 14A Filing

Ticker: HBANP · Form: DEF 14A · Filed: Mar 7, 2024 · CIK: 49196

Huntington Bancshares Inc /Md/ DEF 14A Filing Summary
FieldDetail
CompanyHuntington Bancshares Inc /Md/ (HBANP)
Form TypeDEF 14A
Filed DateMar 7, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$40 billion, $24 billion, $20, $500, $50
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Huntington Bancshares, Executive Compensation, Corporate Governance, SEC Filing

TL;DR

<b>Huntington Bancshares Inc. files DEF 14A with reporting period ending April 17, 2024.</b>

AI Summary

HUNTINGTON BANCSHARES INC /MD/ (HBANP) filed a Proxy Statement (DEF 14A) with the SEC on March 7, 2024. Filing Type: DEF 14A. Reporting Period: 2024-04-17. Filed as of Date: 2024-03-07. Company Name: HUNTINGTON BANCSHARES INC /MD/. IRS Number: 310724920.

Why It Matters

For investors and stakeholders tracking HUNTINGTON BANCSHARES INC /MD/, this filing contains several important signals. This DEF 14A filing provides detailed information regarding the company's corporate governance and executive compensation for the reporting period. The filing includes data related to executive compensation for PEO and Non-PEO members, as well as pension adjustments for the years 2020-2023.

Risk Assessment

Risk Level: low — HUNTINGTON BANCSHARES INC /MD/ shows low risk based on this filing. The filing is a routine DEF 14A, which is standard for public companies and does not inherently indicate significant new risks.

Analyst Insight

Review the executive compensation details and pension adjustments to understand potential impacts on shareholder value and company financial health.

Key Numbers

  • 2024-04-17 — Conformed Period of Report (DEF 14A)
  • 2024-03-07 — Filed as of Date (DEF 14A)
  • 1231 — Fiscal Year End (COMPANY DATA)
  • 2023-01-01 — Start Date for Compensation Data (AdjustmentSummaryCompensationTablePensionMember)
  • 2023-12-31 — End Date for Compensation Data (AdjustmentSummaryCompensationTablePensionMember)

Key Players & Entities

  • HUNTINGTON BANCSHARES INC /MD/ (company) — COMPANY CONFORMED NAME
  • 0000049196 (company) — CENTRAL INDEX KEY
  • 6021 (company) — STANDARD INDUSTRIAL CLASSIFICATION
  • MD (company) — STATE OF INCORPORATION
  • OH (company) — STATE
  • COLUMBUS (company) — CITY
  • 6144802265 (company) — BUSINESS PHONE
  • Stephen D. Steinour (person) — Member

FAQ

When did HUNTINGTON BANCSHARES INC /MD/ file this DEF 14A?

HUNTINGTON BANCSHARES INC /MD/ filed this Proxy Statement (DEF 14A) with the SEC on March 7, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by HUNTINGTON BANCSHARES INC /MD/ (HBANP).

Where can I read the original DEF 14A filing from HUNTINGTON BANCSHARES INC /MD/?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by HUNTINGTON BANCSHARES INC /MD/.

What are the key takeaways from HUNTINGTON BANCSHARES INC /MD/'s DEF 14A?

HUNTINGTON BANCSHARES INC /MD/ filed this DEF 14A on March 7, 2024. Key takeaways: Filing Type: DEF 14A. Reporting Period: 2024-04-17. Filed as of Date: 2024-03-07.

Is HUNTINGTON BANCSHARES INC /MD/ a risky investment based on this filing?

Based on this DEF 14A, HUNTINGTON BANCSHARES INC /MD/ presents a relatively low-risk profile. The filing is a routine DEF 14A, which is standard for public companies and does not inherently indicate significant new risks.

What should investors do after reading HUNTINGTON BANCSHARES INC /MD/'s DEF 14A?

Review the executive compensation details and pension adjustments to understand potential impacts on shareholder value and company financial health. The overall sentiment from this filing is neutral.

How does HUNTINGTON BANCSHARES INC /MD/ compare to its industry peers?

Huntington Bancshares Inc. operates within the national commercial banking sector.

Are there regulatory concerns for HUNTINGTON BANCSHARES INC /MD/?

The filing is a DEF 14A, which is a type of registration statement filed with the SEC by companies.

Industry Context

Huntington Bancshares Inc. operates within the national commercial banking sector.

Regulatory Implications

The filing is a DEF 14A, which is a type of registration statement filed with the SEC by companies.

What Investors Should Do

  1. Analyze executive compensation packages for PEO and Non-PEO members.
  2. Review pension adjustment data for the fiscal years 2020-2023.
  3. Examine any disclosures related to corporate governance practices.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a proxy statement providing information on upcoming shareholder meetings and related matters, rather than a financial performance report.

Filing Stats: 4,220 words · 17 min read · ~14 pages · Grade level 19 · Accepted 2024-03-07 09:06:52

Key Financial Figures

  • $40 billion — communities throughout 2023 through our $40 billion Community Plan, investing over $24 bill
  • $24 billion — billion Community Plan, investing over $24 billion since June 2021. Our Lift Local Busines
  • $20 — t in our colleagues is evidenced by: A $20 per hour minimum rate (since January 1,
  • $500 — ing customers immediate access to up to $500 from check deposits Standby Cash that
  • $50 — additional cost Our no overdraft fee $50 Safety Zone for consumers and businesse

Filing Documents

Executive Compensation Tables

Executive Compensation Tables 111 Pay Versus Performance Disclosure 125 Pay Ratio Disclosure 128 Audit Matters 129 Report of the Audit Committee 131 of Voting Stock 132

Security Ownership of Directors and Executive Officers

Security Ownership of Directors and Executive Officers 132

Security Ownership of Certain Beneficial Owners

Security Ownership of Certain Beneficial Owners 135 Delinquent Section 16(a) Reports 135 Additional Management Proposal 136 Approval of the 2024 Long-Term Incentive Plan 137 General Information on Voting and the Annual Meeting 147 General Information About the Meeting 147 Proposals by Shareholders for the 2025 Annual Meeting 150 Recommendations for Directorship 150 Other Matters 151 Appendix A: Non-GAAP Reconciliation 154 Adjusted EPS 154 Adjusted Operating Leverage 155 Adjusted ROTCE 156 Pre-Provision Net Revenue (PPNR) 157 Appendix B: Huntington Bancshares Incorporated 2024 Long-Term Incentive Plan 158 Glossary 174 Readers should refer to the Glossary at the end of this Proxy Statement for definitions of capitalized terms and acronyms used throughout. Huntington bancshares incorporated 2024 Proxy Statement 4 Back to Contents Information Highlights The following chart provides highlights of many of Huntington's ESG and compensation practices. Shareholders should note, however, that this chart does not contain all the information provided elsewhere in this Proxy Statement; therefore, you should carefully read the entire Proxy Statement before casting your vote. ESG or Compensation Topic Huntington's Practice Board Composition, Leadership, and Operations Number of Director nominees 16 Substantially independent Board Yes, 87.5% of nominees are independent Independence of Audit Committee, HRCC, NESG Committee, and Risk Oversight Committee members 100% Combined Chairman/CEO Yes Independent Lead Director with clearly defined authority and duties Yes Average Director nominee age 63 years Mandatory retirement age 72 unless an exception is made Average Director nominee tenure 7 years Term limit None Gender diversity on the Board 5 nominees (31%) Racial/ethnic diversity on the Board 4 nominees (25%) Implemented a version of the Rooney Rule for Director candidate searc

Business

Business Banking Scale in select areas of expertise in-footprint and nationally Integrate digital solutions into small business owners' daily management Synchronize customer relationship through digital and human expertise Offer differentiated products to solve customer needs Accelerate credit process modernization to reduce time to funding and improve colleague/customer experience Expand digital capabilities to benefit our customers Commercial Banking Target markets/clients with disciplined approach to grow operating accounts Accelerate digital capabilities to drive efficiency and improved experience Generate fee growth, including capital markets Execute on deepening opportunity to continue growth in primary bank relationships Leverage expertise and advice to scale industry verticals and enter new geographies/markets Build more efficient processes, broader product menu, and deliver innovative solutions Improve through data-driven insights/predictive analytics (EDGE) Enterprise Payments Deepen relationships with large established base Streamline to create simple, frictionless digital customer experiences Innovate solutions and advice based on customer needs to enhance user experience Expand B2C capabilities with ChoicePay Leverage partnerships and innovation to scale capabilities Enable scale with self-service options and automation Vehicle Finance Expand opportunistically with auto and RV/Marine platform Grow PowerSports with scaled infrastructure and expertise Leverage foundational 75 years of industry expertise and sector leading technology Ensure quality relationships through tenured colleagues with local knowledge Deliver superior credit performance through the cycle, utilizing technology and consistent with low-risk track record Optimize production and yield to enhance returns Huntington Bancshares Incorporated 2024 Proxy Statement 12 Back to Contents Investing Differentiating Optimizing for sustainable, profitable gro

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