Robert Warren Derrick - Feb 7, 2022 Form 4 Insider Report for SYNOVUS FINANCIAL CORP (SNV)

Signature
/s/ Mary Maurice Young
Stock symbol
SNV
Transactions as of
Feb 7, 2022
Transactions value $
-$5,209
Form type
4
Date filed
2/9/2022, 03:48 PM
Next filing
Feb 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SNV Common Stock Award $21.4K +419 +2.24% $51.07 19.1K Feb 7, 2022 Direct F1
transaction SNV Common Stock Disposed to Issuer $0 -4.5K -23.54% $0.00 14.6K Feb 7, 2022 Direct F2
transaction SNV Common Stock Tax liability -$26.6K -521 -3.56% $51.07 14.1K Feb 7, 2022 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 11, 2019, the reporting person reported the grant of certain restricted stock units (the "2019 MRSUs"). The 2019 MRSUs have a service-based vesting component as well as a Total Shareholder Return Multiplier. On February 7, 2022, pursuant to the terms of the service-based vesting component of the 2019 MRSUs, the third tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the reporting person received 250 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of the 2019 MRSUs initially reported on Form 4 in February 2019. In addition, the reporting person received 169 shares of the Company's restricted stock through the accrual of dividend equivalents.
F2 On February 11, 2019, the reported person reported the grant of certain performance stock units (the "PSUs"). The PSUs had a service based vesting component as well as performance vesting requirement. While the reporting person has satisfied the service-based vesting requirement, the actual amount of PSUs which vested on February 7, 2022 was 0% of the target amount based upon the results of two performance measures during the performance period compared to the performance's formula approved by the Compensation and Human Capital Committee of Synovus' Board of Directors. As such, the reporting person received 4,500 less shares than initially reported on Form 4 in February 2019.
F3 These shares were withheld upon the vesting of 2019 MRSUs to pay tax withholding obligations.