Daniel Zachary Bishop - Feb 18, 2024 Form 4 Insider Report for SYNOVUS FINANCIAL CORP (SNV)

Signature
/s/ Mary Maurice Young
Stock symbol
SNV
Transactions as of
Feb 18, 2024
Transactions value $
-$52,958
Form type
4
Date filed
2/22/2024, 04:17 PM
Previous filing
Feb 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SNV Common Stock Award $124K +3.38K +9.13% $36.70 40.3K Feb 18, 2024 Direct F1
transaction SNV Common Stock Tax liability -$177K -4.82K -11.94% $36.70 35.5K Feb 18, 2024 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 18, 2021, the reporting person received grants of performance stock units (the "PSUs") with a service-based vesting component as well as a performance-based vesting requirement. These PSUs were included on the Form 3 filed on February 1, 2022 by the reporting person (the "Form 3"). Under the service-based vesting component, the PSUs vest 100% after three years subject to the reporting person's continued employment with Synovus. Under the performance-based vesting component, Synovus' weighted average return on average assets is measured over a three-year performance period. Based upon the Total Shareholder Return Multiplier, the reporting person received 2,458 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of PSUs initially reported on the Form 3 filed in February 2022. In addition, the reporting person received 917 shares through the accrual of dividend equivalents.
F2 These shares were withheld upon the vesting of performance stock units to pay tax withholding obligations.