Form 4: Huntington Bancshares CEO Stephen Steinour Reports Stock Transactions
SEC Form 4
Stephen Steinour, CEO and Chairman of Huntington Bancshares, reports acquisition and disposal of company stock related to performance share units and tax obligations.
Summary
- Stephen Steinour, the President, CEO, and Chairman of Huntington Bancshares, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On April 16, 2024, Steinour acquired 341,391.204 shares of common stock related to a performance share unit (PSU) award cycle from 2021-2023.
- On the same day, 154,821 shares were withheld to cover the associated tax liability upon the vesting of these PSU shares at a price of $13.04.
- Following these transactions, Steinour directly owns 1,515,221.001 shares of Huntington Bancshares common stock.
- Steinour also has indirect ownership through various plans and trusts, including the Executive Deferred Compensation Plan (3,381,521.177 shares), Family Trusts (2,872,505 shares), GRATS (578,750 shares), the Issuer's Investment and Tax Savings Plan (50,583.057 shares), the Issuer's Supplemental Stock Purchase and Tax Savings Plan (89,360.791 shares), and through his spouse (1,924.43 shares).
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but the vesting of performance shares suggests the achievement of certain performance goals.
Positives
- The acquisition of shares reflects the vesting of performance-based awards, suggesting the achievement of certain company goals during the 2021-2023 period.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/16/2024 | Date of stock acquisition and disposal related to PSU vesting and tax withholding. |
| 04/18/2024 | Date of signature by Anne Kruger, Attorney-in-Fact. |
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