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| Huntington Bancshares Announces Second Grant Under Company-Wide Employee Stock Option Plan |
COLUMBUS, Ohio, Sept. 6 /PRNewswire-FirstCall/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) today announced that its Compensation and Stock Option Committee of the Board of Directors has approved the grant of stock options under its company-wide employee stock option program. This is the second stock option grant under this program, which was implemented in August 2001. Approximately 8300 Huntington employees are eligible for this grant, which is designed to foster a sense of ownership throughout the organization and make the creation of shareholder value a direct component of employee compensation. Thomas E. Hoaglin, chairman, president and chief executive officer of Huntington, stated, "It is important that all Huntington associates feel a real sense of ownership in our company as we strive to be a truly exceptional financial services company for customers and shareholders alike." Substantially all full and part-time employees actively employed at Huntington as of August 27, 2002 were eligible for this stock option grant. Full-time employees and part-time employees, who work 20 or more hours per week, were granted options for 300 shares, and other part-time employees were granted options for 150 shares. Huntington expects that the grant will total 2,500,000 shares. The options have an exercise price of $19.94 per share, the stock's closing price on August 27, 2002. The stock options vest when the Company's daily closing stock price reaches or exceeds $27.00 for five or more consecutive business days, or after five years, whichever occurs first. About Huntington Huntington Bancshares Incorporated is a $25 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 136 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through more than 300 regional banking offices in Indiana, Kentucky, Michigan, Ohio and West Virginia. Huntington also offers retail and commercial financial services online at http://www.huntington.com ; through its technologically advanced, 24-hour telephone bank; and through its network of more than 900 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Florida, Tennessee, Pennsylvania and Arizona; Private Financial Group offices in Florida; and Mortgage Banking offices in Florida, Maryland and New Jersey. International banking services are made available through the headquarters office in Columbus and additional offices located in the Cayman Islands and Hong Kong.SOURCE Huntington Bancshares Incorporated
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