Huntington National Bank 2009 Annual Report Download - page 179

The followin
g
table presents additional information re
g
ardin
g
options outstandin
g
as of December 31
,
2009.
Ran
g
eof
Exercise Prices
S
hare
s
W
e
ig
hted
-
A
verag
e
Remainin
g
Contractua
l
Life
(
Years
)
W
e
i
ghted-
Avera
g
e
Exercise
Price
S
hares
We
i
ghted
-
Avera
ge
Exercise
Pr
i
c
e
O
pt
i
ons
O
utstand
i
ng Exerc
i
sable
O
pt
i
on
s
(
In thousands, exce
p
t
p
er share amounts
)
$
1.28 to
$
10.00
.....................
4,
495 6.1 $ 5.12 485 $ 7.0
0
$
10.01 to
$
15.00
....................
1
,
551 1.1 13.90 1
,
543 13.90
$
15.01 to
$
20.00
....................
6,
543 2.1 17.77 6
,
540 17.7
7
$
20.01 to
$
25.01
....................
11
,
133 3.4 22.22 10
,
6
5
0 22.3
2
To
t
al
.............................
23
,
722 3.4
$
17.21 19
,
218
$
19.7
1
Of the remainin
g
31.7 million shares of common stock authorized for issuance at December 31, 2009,
2
6.6 million were outstandin
g
and 5.1 million were available for future
g
rants. Huntin
g
ton issues shares to
f
u
lfill
stoc
k
o
p
t
i
on exerc
i
ses an
d
restr
i
cte
d
stoc
k
un
i
ts
f
rom ava
il
a
bl
e aut
h
or
i
ze
d
s
h
ares. At Decem
b
er 31
,
2
009, t
h
e Compan
yb
e
li
eves t
h
ere are a
d
equate aut
h
or
i
ze
d
s
h
ares to sat
i
s
fy
ant
i
c
i
pate
d
stoc
k
opt
i
on exerc
i
se
s
in 2
0
1
0
.
On Januar
y
14, 2009, Huntin
g
ton announced that Stephen D. Steinour, has been elected Chairman
,
Pres
id
ent an
d
C
hi
e
f
Execut
i
ve O
ffi
cer. In connect
i
on w
i
t
hhi
s emp
l
o
y
ment a
g
reement, Hunt
i
n
g
ton awar
d
e
d
Mr. Ste
i
nour an
i
n
d
ucement opt
i
on to purc
h
ase 1,000,000 s
h
ares o
f
Hunt
i
n
g
ton’s common stoc
k
,w
i
t
h
ape
r
share exercise price equal to
$
4.95, the closin
g
price of Huntin
g
ton’s common stock on Januar
y
14, 2009. The
option vests in equal increments on each of the first five anniversaries of the date of
g
rant, and expires on th
e
sevent
h
ann
i
versar
y.
19. IN
CO
ME TAXE
S
The Compan
y
and its subsidiaries file income tax returns in the U.S. federal
j
urisdiction and various state
,
cit
y
and forei
g
n
j
urisdictions. Federal income tax audits have been completed throu
g
h 2005. In 2009, th
e
IRS be
g
an the audit of our consolidated federal income tax returns for tax
y
ears 200
6
and 2007. In addition,
v
ar
i
ous state an
d
ot
h
er
j
ur
i
s
di
ct
i
ons rema
i
n open to exam
i
nat
i
on
f
or tax
y
ears 2000 an
df
orwar
d.
T
h
e Interna
l
Revenue Serv
i
ce, State o
f
O
hi
oan
d
ot
h
er state tax o
ffi
c
i
a
l
s
h
ave propose
d
a
dj
ustments to t
h
e
Compan
y
’s previousl
y
filed tax returns. Mana
g
ement believes that the tax positions taken b
y
the Compan
y
re
l
ate
d
to suc
h
propose
d
a
dj
ustments were correct an
d
supporte
db
y app
li
ca
bl
e statutes, regu
l
at
i
ons, an
d
j
u
di
c
i
a
l
aut
h
or
i
t
y
,an
di
nten
d
stov
ig
orous
ly d
e
f
en
d
t
h
em. It
i
s poss
ibl
et
h
at t
h
eu
l
t
i
mate reso
l
ut
i
on o
f
t
he
proposed ad
j
ustments, if unfavorable, ma
y
be material to the results of operations in the period it occurs
.
H
owever, althou
g
h no assurance can be
g
iven, we believe that the resolution of these examinations will not
,
i
n
di
v
id
ua
lly
or
i
nt
h
ea
gg
re
g
ate,
h
ave a mater
i
a
l
a
d
verse
i
mpact on our conso
lid
ate
dfi
nanc
i
a
l
pos
i
t
i
on.
Hunt
i
n
g
ton accounts
f
or uncerta
i
nt
i
es
i
n
i
ncome taxes
i
n accor
d
ance w
i
t
h
ASC 740, Income Taxes. A
t
December 31, 2009, Huntin
g
ton had a net unreco
g
nized tax benefit of
$
13.5 million in income tax liabilit
y
related to tax positions. Huntin
g
ton does not anticipate the total amount of unreco
g
nized tax benefits t
o
si
g
nificantl
y
chan
g
e within the next 12 months
.
171