Kelly S. King - May 10, 2023 Form 4 Insider Report for TRUIST FINANCIAL CORP (TFC)

Role
Director
Signature
Carla Brenwald, Attorney-in-fact
Stock symbol
TFC
Transactions as of
May 10, 2023
Transactions value $
$0
Form type
4
Date filed
5/12/2023, 09:16 AM
Previous filing
Mar 17, 2023
Next filing
Jul 27, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TFC Common Stock 57.4K May 10, 2023 By Spouse
holding TFC Common Stock 134K May 10, 2023 By IRA
holding TFC Common Stock 46.4K May 10, 2023 Direct
holding TFC Common Stock 429K May 10, 2023 By GRAT F1

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) 156K May 10, 2023 Common Stock 156K $32.10 Direct F3
holding TFC Stock Option (right to buy) 121K May 10, 2023 Common Stock 121K $38.22 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 10, 2023, the reporting person contributed 100,000 shares of Truist common stock to a grantor retained annuity trust ("GRAT") for the benefit of himself and his adult children. 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 contributed to the GRAT from direct to indirect beneficial ownership.
F2 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.
F3 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.