Kelly S. King - Jul 25, 2023 Form 4 Insider Report for TRUIST FINANCIAL CORP (TFC)

Role: Director
Signature: Carla Brenwald, Attorney-in-fact
Stock symbol: TFC
Transactions as of: Jul 25, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/27/2023, 02:02 PM
Previous filing: May 12, 2023
Next filing: Aug 10, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	TFC	Common Stock						57.4K	Jul 25, 2023	By Spouse
holding	TFC	Common Stock						136K	Jul 25, 2023	By IRA	F2
holding	TFC	Common Stock						178K	Jul 25, 2023	Direct	F1
holding	TFC	Common Stock						297K	Jul 25, 2023	By GRATs	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	Jul 25, 2023	Common Stock	156K	$32.10	Direct	F4
holding	TFC	Stock Option (right to buy)						121K	Jul 25, 2023	Common Stock	121K	$38.22	Direct	F3

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

Explanation of Responses:

Id	Content
F1	On July 25, 2023, grantor retained annuity trusts ("GRATs") for the benefit of the reporting person and his adult children made annuity payments to the reporting person consisting of 131,326 shares of Truist common stock. The reporting person is the trustee of the GRATs and the sole recipient of the annuity payments made by the GRATs. 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 GRATs from indirect to direct beneficial ownership.
F2	Includes 2,271.449 shares acquired in June 2023, under the Dividend Reinvestment Plan.
F3	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.
F4	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.