STEINOUR STEPHEN D 4

What Happened
Stephen D. Steinour, President, CEO & Chairman of Huntington Bancshares (HBAN), exercised options on 2026-02-04 to acquire 50,000 common shares at $10.06 per share (exercise cost = $503,000). To cover tax obligations, 33,726 of the newly acquired shares were surrendered/withheld at $19.12 per share (value = $644,841). The filing reports the option conversion and the withholding; the net increase in his common shares from this transaction is 16,274 shares (50,000 exercised − 33,726 withheld).

Key Details

• Transaction date: 2026-02-04; filing date: 2026-02-06 (reported within typical Section 16 timing).
• Exercise: 50,000 shares @ $10.06 (total exercise cost $503,000) — transaction code M (option exercise/conversion).
• Tax withholding/disposition: 33,726 shares @ $19.12 (value $644,841) — transaction code F (payment of exercise price or tax liability).
• Reported derivative disposition: the option was converted/removed as part of the exercise (also recorded as M/disposed).
• Shares owned after the transaction: not disclosed in this filing.
• Footnote: F1 clarifies the filer does not admit beneficial ownership status for Section 16 purposes.

Context

• This appears to be a routine option exercise with shares withheld to satisfy tax withholding — often called a cashless or net-share exercise. Withholding to cover taxes is common and is administrative rather than a directional market bet.
• The derivative (option) disposal entry reflects conversion of the option into common stock; it’s a standard reporting detail for exercises.