SEC Form 4 · accession 0001209191-17-010675
SYNOVUS FINANCIAL CORP · SNV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Allan E Kamensky
Officer — EVP and Corporate Secretary · Other
Period of report
Feb 10, 2017
Accepted (ET)
Feb 14, 2017 · 5:51 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 | Feb 10, 2017 | A | 595 | $41.61 | A | 66,261 | D | |
| Common StockF3,F4 | Feb 10, 2017 | D | 39 | $41.61 | D | 66,416 | D | |
| Common StockF5 | Feb 10, 2017 | F | 4,203 | $41.61 | D | 62,213 | D | |
| Common StockF6,F7 | Feb 11, 2017 | A | 450 | $41.77 | A | 62,693 | D | |
| Common StockF8 | Feb 11, 2017 | F | 988 | $41.77 | D | 61,705 | D | |
| Common Stock | Feb 13, 2017 | P | 1,110 | $42.20 | A | 62,815 | D | |
| Common Stock | Feb 13, 2017 | S | 555 | $42.19 | D | 555 | I | By Children |
| Common Stock | Feb 13, 2017 | S | 555 | $42.23 | D | 0 | I | By Children |
| Common Stock | holding | — | — | — | 5,735 | I | By Spouse |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 11, 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 February 10, 2017, pursuant to the terms of the service-based vesting component of the MRSUs, the third tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the reporting person received 595 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of MRSUs initially reported on Form 4 in February 2014.
- F2Includes 133 shares acquired through dividend reinvestment.
- F3On February 11, 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.
- F4Includes 194 shares acquired through dividend reinvestment.
- F5These shares were withheld upon the vesting of restricted stock units, MRSUs and PSUs to pay tax witholding obligations.
- F6On February 16, 2016, 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 February 11, 2017, pursuant to the terms of the service-based vesting component of the MRSUs, the first tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the reporting person received 450 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of MRSUs initially reported on Form 4 in February 2016.
- F7Includes 30 shares acquired through dividend reinvestment.
- F8These shares were withheld upon the vesting of the MRSUs to pay tax witholding obligations.