Hugh S. Cummins III - Feb 26, 2024 Form 4 Insider Report for TRUIST FINANCIAL CORP (TFC)

Signature
Carla Brenwald, Attorney-in-fact
Stock symbol
TFC
Transactions as of
Feb 26, 2024
Transactions value $
$0
Form type
4
Date filed
2/28/2024, 02:06 PM
Previous filing
Dec 12, 2023
Next filing
Mar 19, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TFC Common Stock Award $0 +5.48K +1.63% $0.00 342K Feb 26, 2024 Direct F1
transaction TFC Common Stock Award $0 +6.65K +1.94% $0.00 349K Feb 26, 2024 Direct F2
transaction TFC Common Stock Award $0 +8.28K +2.38% $0.00 357K Feb 26, 2024 Direct F3
transaction TFC Common Stock Award $0 +17K +4.77% $0.00 374K Feb 26, 2024 Direct F4
holding TFC Common Stock 4.33K Feb 26, 2024 By 401(k) F5

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 1.78K Feb 26, 2024 Common Stock 1.78K $0.00 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 24, 2020, the reporting person was granted 21,909 restricted stock units, which shall vest and become earned ratably over four years based on certain performance criteria for each vesting year ending March 15, 2021, 2022, 2023 and 2024. The performance criteria for 2024 were met, resulting in 5,478 restricted stock units being earned.
F2 On February 22, 2021, the reporting person was granted 19,944 restricted stock units, which shall vest and become earned in 1/3 increments over four years based on certain performance criteria for each vesting period ending March 15, 2023, 2024, and 2025. The performance criteria for 2024 were met, resulting in 6,648 restricted stock units being earned.
F3 On February 22, 2022, the reporting person was granted 24,831 restricted stock units, which shall vest and become earned in 1/3 increments over four years based on certain performance criteria for each vesting period ending March 15, 2024, 2025, and 2026. The performance criteria for 2024 were met, resulting in 8,278 restricted stock units being earned.
F4 On February 22, 2021, the reporting person was granted 22,681 performance-based stock units at the Target Level of Achievement, which vest and become earned based on the pre-established three-year (January 1, 2021 through December 31, 2023) performance period's ROACE and ROATCE performance measures. Transaction represents the satisfaction of performance measures at 75% of the Target Level of Achievement, resulting in 17,010 shares being earned.
F5 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.
F6 Represents phantom stock units under the Truist Nonqualified Deferred Compensation Plan.