Kelly S. King - 19 May 2021 Form 4 Insider Report for TRUIST FINANCIAL CORP (TFC)

Role: Chairman and CEO, Director
Signature: Carla Brenwald, Attorney-in-fact
Issuer symbol: TFC
Transactions as of: 19 May 2021
Net transactions value: $0
Form type: 4
Filing time: 21 May 2021, 15:59:41 UTC
Next filing: 21 Jul 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	TFC	Common Stock						72,897	19 May 2021	Direct	F1
holding	TFC	Common Stock						641	19 May 2021	By 401(k)
holding	TFC	Common Stock						332,385	19 May 2021	By GRAT	F1
holding	TFC	Common Stock						123,325	19 May 2021	By IRA
holding	TFC	Common Stock						57,369	19 May 2021	By Spouse

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	TFC	Stock Option (right to buy)						155,555	19 May 2021	Common Stock	155,555	$32.10	Direct	F2
holding	TFC	Stock Option (right to buy)						71,611	19 May 2021	Common Stock	71,611	$37.55	Direct	F3
holding	TFC	Stock Option (right to buy)						120,714	19 May 2021	Common Stock	120,714	$38.22	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On May 19, 2021, a grantor retained annuity trust ("GRAT") for the benefit of the reporting person and his adult children made an annuity payment to the reporting person consisting of 24,442 shares of Truist common stock. The reporting person is the trustee of the GRAT and the sole recipient of the annuity payments made by the GRAT. This Form 4 is being filed to reflect the change in the form of the reporting person's beneficial ownership of the Truist common stock transferred by the GRAT from indirect to direct beneficial ownership.
F2	On February 23, 2016, the reporting person was granted an option to purchase 155,555 shares of common stock. The option vests ratably over three years based on certain performance criteria for each vesting year ending March 15, 2017, 2018, and 2019. The performance criteria for 2019 were met, resulting in 51,852 options being earned.
F3	On February 25, 2014, the reporting person was granted an option to purchase 71,611 shares of common stock. The option vests ratably over three years based on certain performance criteria for each vesting year ending February 25, 2015, 2016, and 2017. The performance criteria for 2017 were met, resulting in 23,873 options being earned.
F4	On February 24, 2015, the reporting person was granted an option to purchase 120,714 shares of common stock. The option vests ratably over three years based on certain performance criteria for each vesting year ending March 15, 2016, 2017, and 2018. The performance criteria for 2018 were met, resulting in 40,239 options being earned.