Hugh S. Cummins III - 08 Dec 2023 Form 4 Insider Report for TRUIST FINANCIAL CORP (TFC)

Signature
Carla Brenwald, Attorney-in-fact
Issuer symbol
TFC
Transactions as of
08 Dec 2023
Net transactions value
-$47,406
Form type
4
Filing time
12 Dec 2023, 18:34:35 UTC
Previous filing
19 Sep 2023
Next filing
28 Feb 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TFC Common Stock Tax liability $47,406 -1,475 -0.44% $32.14 336,416 08 Dec 2023 Direct
transaction TFC Common Stock Award $0 +1,475 +0.44% $0.000000 337,891 08 Dec 2023 Direct F1
holding TFC Common Stock 4,266 08 Dec 2023 By 401(k) F2

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 Phantom Stock Unit 1,784 08 Dec 2023 Common Stock 1,784 $0.000000 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents accelerated vesting of a portion of RSUs granted earlier in 2023 solely to pay certain federal tax withholding currently due on account of the fact that the reporting person is retirement eligible. The original award was to vest in three equal tranches on March 15 following each of the second, third and fourth anniversaries of the grant date, which was in February 2023. The accelerated vesting reduces the shares otherwise scheduled to vest on March 15, 2027.
F2 Because the stock fund component of the 401(k) Plan is accounted for in unit accounting, the number of share equivalents varies based on the closing price of Truist stock on the applicable measurement date.
F3 Represents phantom stock units under the Truist Nonqualified Deferred Compensation Plan.
F4 Includes shares acquired as a result of dividend reinvestment since the last reported transaction.