Brant Standridge
HUNTINGTON BANCSHARES INC /MD/About Brant Standridge
Brant J. Standridge, age 49, is Senior Executive Vice President and President of Consumer & Regional Banking at Huntington Bancshares (HBAN). He joined Huntington’s Executive Leadership Team in April 2022 and has led Consumer & Regional Banking since April 2023; prior roles include Senior EVP of Consumer & Business Banking (Apr 2022–Mar 2023) and, before Huntington, Chief Retail Community Banking Officer at Truist following the BB&T/SunTrust merger and President of Community Bank Retail & Consumer Finance at BB&T (starting Oct 2018) . Company performance under the 2024 incentive framework included Adjusted EPS $1.25, Adjusted PPNR earnings growth 2.04%, Adjusted Operating Leverage 4.2%, and Adjusted ROTCE 16.0% (non-GAAP), which funded the annual MIP at 105.2% of target .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Truist Financial Corporation | Chief Retail Community Banking Officer | Dec 2019–Apr 2022 (post BB&T/SunTrust merger) | Led retail community banking following merger integration |
| BB&T Corporation | President, Community Bank Retail & Consumer Finance Businesses | Oct 2018–Dec 2019 | Led retail and consumer finance businesses before the BB&T/SunTrust merger |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No external board or nonprofit roles disclosed in HBAN’s proxy biography |
Fixed Compensation
Multi-year compensation summary (USD):
| Component | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | $513,542 | $744,792 | $750,000 |
| Bonus | $120,000 (sign-on installment) | $1,550,000 (sign-on installment) | — |
| Stock Awards (RSUs/PSUs grant-date fair value) | $4,573,872 | $1,999,986 | $2,499,998 |
| Non-Equity Incentive (MIP) | $1,750,000 | $1,250,000 | $1,300,000 |
| All Other Compensation | $113,262 | $51,954 | $8,772 |
| Total | $7,070,676 | $5,596,732 | $4,558,770 |
2024 targets and outcomes:
| Item | 2024 Value |
|---|---|
| Base Salary | $750,000 |
| MIP Target % of Salary | 150% (Target $1,125,000) |
| MIP Award Paid | $1,300,000 |
| LTI Target (grant value) | $1,875,000 |
| LTI Award Granted | $2,500,000 (includes $600,000 retention PSU/RSU) |
Perquisites and other: No personal perquisites disclosed for Standridge; 2024 “All Other Compensation” reflects 401(k) contribution and group life insurance ($8,772) .
Performance Compensation
Annual MIP metrics (2024):
| Metric | Weighting | Target | Actual | Performance Factor | Vesting/Payout |
|---|---|---|---|---|---|
| Adjusted EPS (non-GAAP) | Not disclosed | HRCC-set (not numeric) | $1.25 | 101.5% | Paid in cash for 2024 |
| Adjusted PPNR Earnings Growth (non-GAAP) | Not disclosed | HRCC-set (not numeric) | 2.04% | 106.8% | Paid in cash for 2024 |
| Adjusted Operating Leverage (non-GAAP) | Not disclosed | HRCC-set (not numeric) | 4.2% | 107.4% | Paid in cash for 2024 |
| Plan Funding | — | — | — | Overall 105.2% | HRCC certified Jan 2025 |
2024 LTI grants (mix, terms, and share counts):
| Vehicle | Grant Date | Target Shares (#) | Grant-Date Fair Value (USD) | Vesting/Performance Terms |
|---|---|---|---|---|
| PSUs (annual) | 3/1/2024 | 73,359 | $949,999 | 3-year performance; payout 0–150% based on Relative ROTCE (55th percentile target; 30th/70th threshold/maximum) and Absolute ROTCE ≥6% |
| PSUs (retention) | 3/1/2024 | 23,166 | $300,000 | Same as above |
| RSUs (annual) | 3/1/2024 | 73,359 | $949,999 | Time-based: 50% vests after year 3 and 50% after year 4 |
| RSUs (retention) | 3/1/2024 | 23,166 | $300,000 | Same schedule |
Note: 2022 sign-on RSUs granted 4/11/2022 vest in specified tranches (70% at year 2; remaining 30% at year 3; plus a second RSU grant 20/20/40/20% over years 1–4) .
Equity Ownership & Alignment
Ownership snapshot and vesting activity:
| Item | Value |
|---|---|
| Beneficially Owned Shares | 195,040 (<1% of class) |
| RSUs/Options Acquirable within 60 Days | RSUs: 127,528; Options: — |
| Shares Pledged as Collateral | None (no pledged shares reported) |
| 2024 Stock Vested | 189,488 shares; realized value $2,556,197 |
| Ownership Guideline | 3x salary for NEOs; five years to comply |
| Hedging/Pledging Policy | Hedging and pledging of HBAN securities prohibited for executives and directors |
| Compliance Status | Not explicitly disclosed for Standridge (NEOs with ≥5 years meet guidelines) |
Outstanding unvested awards at 12/31/2024:
| Award | Count (#) | Market Value (USD) |
|---|---|---|
| RSUs (4/11/2022) | 71,257 | $1,159,354 |
| RSUs (4/11/2022) | 82,600 | $1,343,895 |
| RSUs (3/1/2023) | 71,433 | $1,162,218 |
| RSUs (3/1/2024) | 75,873 | $1,234,460 |
| RSUs (3/1/2024 retention) | 23,960 | $389,830 |
| PSUs (3/1/2023) | 128,580 (unearned, 3-yr cycle) | $2,091,992 |
| PSUs (3/1/2024) | 113,810 (unearned, 3-yr cycle) | $1,851,690 |
| PSUs (3/1/2024 retention) | 35,940 (unearned) | $584,744 |
Stock ownership concentration: Director/executive officers as a group hold 12,946,715 beneficial shares (plus additional share interests); Standridge’s individual beneficial ownership is <1% .
Employment Terms
Change-in-control protection and severance:
| Component | Standridge Value |
|---|---|
| Cash Severance (2.5x base + target bonus) | $4,687,500 |
| Pro Rata Bonus | $1,300,000 |
| Outplacement & Job Search Travel | $117,500 |
| Continued Welfare Benefits | $82,826 |
| Performance-Contingent Equity (PSUs) | $3,887,672 |
| Time-Based Equity Acceleration (RSUs/options) | $5,289,757 |
| Final Estimated Benefit (subject to “best-net-benefit” tax cutback) | $15,365,255 |
Key terms:
- Executive Agreements are double-trigger (require a change in control and qualifying termination), with no excise tax gross-ups; “best-net-benefit” applies (cut-back or pay excise tax, whichever is better after-tax) .
- Non-compete: one year post-termination for NEOs; confidentiality and non-solicit obligations apply .
- Equity acceleration upon termination (12/31/2024 values):
• Involuntary (not for cause): RSUs $2,857,793; PSUs $1,226,026
• Death: RSUs $5,289,816; PSUs $2,786,547
• Disability: RSUs $5,289,816; PSUs $2,786,547
• Retirement: Not eligible; unvested equity forfeited upon voluntary termination/retirement . - Deferred compensation (EDCP): $300,000 executive contribution in 2024; aggregate balance $488,193 as of 12/31/2024 .
- Pension/SERP: Not eligible (plans frozen; applies only to certain legacy executives) .
Clawbacks and recoupment:
- Multiple overlapping policies cover cash and equity (vested/unvested), including misconduct recoupment, financial restatement (Rule 10D-1), Sarbanes-Oxley, and Dodd-Frank; 2024 saw no recoupment actions .
Performance & Track Record
- Led team to industry-leading year-over-year loan, deposit, and fee revenue growth; managed deposit beta and interest expense to exceed peers .
- Deepened customer relationships, introduced products to streamline originations, scaled national businesses (practice finance, SBA lending, outdoor equipment & powersports, consumer auto) .
- Advanced regional banking model and localized customer experience; contributed to brand partnerships (e.g., Cleveland Browns) .
- Colleague engagement leadership (Ignite the Classroom, Pelotonia) .
Company-level 2024 highlights relevant to his segment oversight:
- EPS $1.22; total revenue +0.5% to $7.4B FTE; total assets +8% to $204B; period-end loans +6.6%; deposits +7.4%; dividend yield 3.8% at year-end .
- Customer satisfaction leadership (J.D. Power PA retail banking; dealer financing satisfaction), #1 SBA lender by volume for 7th consecutive year .
Compensation Structure vs. Performance Metrics
- Annual MIP (cash) based on Adjusted EPS, Adjusted PPNR Earnings Growth, and Adjusted Operating Leverage (non-GAAP), with HRCC-certified adjustments for extraordinary items; 2024 MIP funded at 105.2% .
- LTI 2024: PSUs (performance-weighted) and RSUs (time-based), with PSUs measured on Relative ROTCE (55th percentile target vs. peer group) plus absolute ROTCE threshold ≥6%; PSU payout range 0–150% and RSUs vest 50%/50% in years 3/4; retention grants added to annual LTI .
Vesting Schedules and Insider Selling Pressure
- RSU vesting cadence (50% after 3 years, 50% after 4 years) creates predictable settlement windows; 2024 vesting released 189,488 shares to Standridge ($2,556,197 value), indicating future periodic supply aligned to grant dates (subject to blackout windows and insider policy) .
- No options outstanding for Standridge; unearned PSUs denominated in stock tie payouts to ROTCE performance and shareholder value creation .
Equity Ownership & Pledging
- Beneficial ownership: 195,040 shares; no pledged shares reported; RSUs acquirable within 60 days: 127,528; options: none .
- Ownership guidelines: 3x salary; five-year compliance window for executives; hedging/pledging prohibited .
Compensation Peer Group (Benchmarking context)
Peer banks used in 2024 benchmarking include CFG, CMA, FITB, KEY, MTB, PNC, RF, TFC, USB, ZION (HBAN positioned slightly below median asset size among peers) .
Say-on-Pay & Shareholder Feedback
Say-on-pay support was 86.9% at the 2024 Annual Meeting (five-year average ~92%); 2024 outreach engaged investors holding ~25% of outstanding shares, informing 2025 adjustments (higher PSU mix) .
Investment Implications
- Strong pay-for-performance alignment: Cash incentives tied to EPS/PPNR/Operating Leverage, and majority of LTI in PSUs linked to ROTCE and relative peer performance, supports disciplined growth in a moderate-to-low risk appetite framework .
- Retention risk mitigants: Significant unvested RSUs/PSUs and 2024 retention grants ($600k added to PSUs/RSUs), plus change-in-control protections, reduce near-term attrition probability for a key business leader .
- Selling pressure considerations: Periodic RSU settlements (year 3/4) can add supply; absence of options reduces potential leverage-driven exercises; hedging/pledging bans reduce alignment risk .
- Governance safeguards: Robust clawbacks and double-trigger CIC terms (no excise tax gross-ups; best-net-benefit cutback), plus prohibited hedging/pledging, address shareholder alignment and risk control .