SEC Form 4 · accession 0001209191-17-007114
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
Jan 31, 2017
Accepted (ET)
Feb 2, 2017 · 4:31 pm EST
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 | Jan 31, 2017 | D | 39 | $41.98 | D | 55,032 | D | |
| Common StockF3 | Jan 31, 2017 | F | 1,740 | $41.98 | D | 53,292 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 4, 2014, the reporting person reported the grant of certain performance stock units (the "PSUs"). The PSUs have a service-based vesting component as well as a performance vesting requirement. Under the service-based vesting component, the PSUs vest 100% after three years subject to the reporting person's continued employment with Synovus. Under the performance vesting component, Synovus' weighted average return on average assets is measured over a three-year performance period. Based upon the weighted average return on average assets, the "target" amount of PSUs which vested was adjusted downward. As such, the reporting person received 39 less shares of the Company's restricted stock than the target amount of PSUs initially reported on Form 4 in February 2014.
- F2Includes 168 shares acquired through accrual of dividend equivalents on the PSUs vested as of January 31, 2017.
- F3These shares were withheld upon the vesting of the PSUs to pay tax witholding obligations.