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

Signature
/s/ Mary Maurice Young
Issuer symbol
SNV
Transactions as of
12 Dec 2022
Net transactions value
-$92,447
Form type
4
Filing time
13 Dec 2022, 15:37:41 UTC
Previous filing
24 Feb 2022
Next filing
15 Feb 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SNV Common Stock Award $17,133 -432 -0.47% $39.66 91,911 12 Dec 2022 Direct F1, F2
transaction SNV Common Stock Tax liability $75,314 -1,899 -2.1% $39.66 90,012 12 Dec 2022 Direct F3
holding SNV Fixed/Floating Rate Non-Cum Perpetual Preferred Stock Ser D 2,000 12 Dec 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.