SEC Form 4 · accession 0001209191-16-134802
SYNOVUS FINANCIAL CORP · SNV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Curtis J Perry
Officer — EVP& Chief Corp Banking Office
Period of report
Jul 31, 2016
Accepted (ET)
Aug 2, 2016 · 2:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000018349
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jul 31, 2016 | D | 17 | $30.44 | D | 65,326 | D | |
| Common StockF3 | Jul 31, 2016 | F | 201 | $30.44 | D | 65,125 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On August 6, 2014, the reporting person reported the grant of certain market restricted stock units (the "MRSUs"). The MRSUs have a service-based vesting component as well as a Total Shareholder Return Multiplier. On July 31, 2016, pursuant to the terms of the service-based vesting component of the MRSUs, the second tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the "target" amount of MRSUs which vested was adjusted downward based upon Synovus' total shareholder return during the year. As such, the reporting person received 17 less shares of the Company's restricted stock than the target amount of MRSUs initially reported on Form 4 in August 2014.
- F2Amount includes 10 shares of the Company's restricted stock received through the accrual of dividend equivalents.
- F3These shares were withheld upon the vesting of restricted stock units to pay tax witholding obligations.