SPY426.00+0.90 0.21%
DIA344.00+2.02 0.59%
IXIC14,359.51-10.20 -0.07%

Insider Trends: Insider at Huntington Bancshares Acquires Stock Via Conversion of Option/Derivative Security Sells Portion to Pay Tax, Buy Trend Intact

05/10/2021 12:29

04:21 PM EDT, 05/10/2021 (MT Newswires) -- Steven Lee Rhodes, EVP of Principal Subsidiary, exercised options/derivative securities for 23,048 shares of Huntington Bancshares (HBAN) and sold 19,013 shares in the company for $295,337 to meet tax obligations on May 06, 2021. After accounting for tax obligations this transaction resulted in a net acquisition of 4,035 company shares. Following the Form 4 filing with the SEC, Rhodes has control over a total of 111,892 shares of the company, with 111,649 shares held directly and 243 controlled indirectly. The market value of the direct and indirect holdings, based on the prior-day closing price, is approximately $1.77 million. Additionally, Rhodes has been granted 42,052 stock options by the company which are in the money and carry a value of approximately $233,592 as of yesterday's closing price.

Over the last 90 days, previous to the date of this filing, there have been 97 insider transactions reported to the SEC for Huntington Bancshares. These transactions came from the activities of 26 individual insiders that resulted in a net acquisition of 597,422 company shares. Relative to the preceding 90-day window of time, there were 7 transactions from 6 insiders that resulted in the net disposition of 76,628 shares.

This level of insider transactions is lower than the peer group average in the 394-company Banks peer group over the last 90-day period. Peer group activity averaged 105.5 transactions per company, with company insiders acquiring on average 7,436 shares.

SEC Story Link http://www.sec.gov/Archives/edgar/data/49196/000122520821007871/xslF345X03/doc4.xml

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.