Huntington National Bank 2014 Annual Report Download - page 163

157
The following table presents additional information regarding options outstanding as of December 31, 2014:
(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 1,843 1.6 $ 4.64 1,836 $ 4.64
$5.64 to $6.02 7,110 3.6 6.02 7,078 6.02
$6.03 to $15.95 10,087 4.7 7.26 4,700 6.78
$15.96 to $22.73 579 0.7 21.74 579 21.74
Total 19,619 3.9 $ 6.99 14,193 $ 6.73
Huntington also grants restricted stock, restricted stock units, performance share awards and other stock-based awards. Restricted
stock units and awards are issued at no cost to the recipient, and can be settled only in shares at the end of the vesting period.
Restricted stock awards provide the holder with full voting rights and cash dividends during the vesting period. Restricted stock units
do not provide the holder with voting rights or cash dividends during the vesting period, but do accrue a dividend equivalent that is
paid upon vesting, and are subject to certain service restrictions. Performance share awards are payable contingent upon Huntington
achieving certain predefined performance objectives over the three-year measurement period. The fair value of these awards is the
closing market price of Huntington’s common stock on the grant date.
The following table summarizes the status of Huntington's restricted stock units and performance share awards as of December
31, 2014, and activity for the year ended December 31, 2014:
Wei
g
hte
d
-Wei
g
hte
d
- Wei
g
hte
d
-
Average Average Average
Restricted Grant Date Restricte
d
Grant Date Performance Grant Date
Stoc
k
Fair Value Stoc
k
Fair Value Share Fair Value
(amounts in thousands, except per share amounts) Awards Per Share Units Per Share Awards Per Share
N
onvested at January 1, 2014 --- $ --- 12,064 $ 6.80 1,646 $ 6.95
Granted --- --- 4,600 9.12 1,076 8.96
Assumed 27 --- --- --- --- ---
Vested (14) 9.53 (4,003) 6.39 --- ---
Forfeited (1) 9.53 (757) 7.54 (143) 7.26
N
onvested at December 31, 2014 12 9.53 11,904 $ 7.79 2,579 $ 7.76
15. INCOME TAXES
The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state, city, and foreign
jurisdictions. Federal income tax audits have been completed through 2009. In the first quarter of 2013, the IRS began an
examination of our 2010 and 2011 consolidated federal income tax returns. Certain proposed adjustments resulting from the IRS
Examination of our 2005 through 2009 tax returns have been settled with the IRS Appeals Office, subject to final approval by
the Joint Committee on Taxation of the U.S. Congress. Various state and other jurisdictions remain open to examination,
including Ohio, Kentucky, Indiana, Michigan, Pennsylvania, West Virginia and Illinois.
Huntington accounts for uncertainties in income taxes in accordance with ASC 740, Income Taxes. At December 31, 2014,
Huntington had gross unrecognized tax benefits of $1.2 million in income tax liability related to tax positions. Due to the
complexities of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the
current estimate of the tax liabilities. Huntington does not anticipate the total amount of gross unrecognized tax benefits to
significantly change within the next 12 months.