Kevin S. Blair - Dec 12, 2022 Form 4 Insider Report for SYNOVUS FINANCIAL CORP (SNV)

Signature
/s/ Mary Maurice Young
Stock symbol
SNV
Transactions as of
Dec 12, 2022
Transactions value $
-$92,447
Form type
4
Date filed
12/13/2022, 03:37 PM
Previous filing
Feb 24, 2022
Next filing
Feb 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SNV Common Stock Award -$17.1K -432 -0.47% $39.66 91.9K Dec 12, 2022 Direct F1, F2
transaction SNV Common Stock Tax liability -$75.3K -1.9K -2.07% $39.66 90K Dec 12, 2022 Direct F3
holding SNV Fixed/Floating Rate Non-Cum Perpetual Preferred Stock Ser D 2K Dec 12, 2022 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 16, 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 December 12, 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 "target" amount of MRSUs which vested was adjusted downward based upon Synovus' total shareholder return during the year. As such, the reporting person received 432 less shares of the Company's restricted stock than the target amount of the 2019 MRSUs initially reported on Form 4 in December 2019.
F2 Includes 490 shares acquired through dividend equivalents.
F3 These shares were withheld upon the vesting of 2019 MRSUs to pay tax withholding obligations.