SEC Form 4 · accession 0001209191-19-009776
SYNOVUS FINANCIAL CORP · SNV
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kessel D Stelling
Officer — Chairman, CEO, & President · Director
Period of report
Feb 9, 2019
Accepted (ET)
Feb 13, 2019 · 5:31 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 | Feb 9, 2019 | D | 2,594 | $37.33 | D | 312,496 | D | |
| Common StockF3 | Feb 9, 2019 | F | 3,511 | $37.33 | D | 308,985 | D | |
| Common StockF4,F5 | Feb 11, 2019 | D | 3,044 | $37.33 | D | 306,556 | D | |
| Common StockF6,F7 | Feb 11, 2019 | A | 2,719 | $37.33 | A | 311,228 | D | |
| Common StockF8 | Feb 11, 2019 | F | 21,808 | $37.33 | D | 289,420 | D | |
| Common Stock | holding | — | — | — | 13,909 | I | By 2015 Irrevocable Trust | |
| Common Stock | holding | — | — | — | 70,000 | I | By 2018 GRAT | |
| Common Stock | holding | — | — | — | 36,271 | I | By 2017 GRAT |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 10, 2017, 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 9, 2019, 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 2,594 less shares of the Company's restricted stock than the target amount of MRSUs initially reported on Form 4 in February 2017.
- F2Includes 273 shares acquired through the accrual of dividend equivalents on the MRSUs vested as of February 9, 2019.
- F3These shares were withheld upon the vesting of MRSUs to pay tax witholding obligations.
- F4On 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, 2019, 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 "target" amount of MRSUs which vested was adjusted downward based upon Synovus' total shareholder return during the year. As such, the reporting person received 3,044 less shares of the Company's restricted stock than the target amount of MRSUs initially reported on Form 4 in February 2016.
- F5Includes 461 shares acquired through the accrual of dividend equivalents on the MRSUs vested as of February 11, 2019.
- F6On February 16, 2016, 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 Total Shareholder Return Multiplier. On February 11, 2019, pursuant to the terms of the service-based vesting component of the PSUs, the third tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the reporting person received 2,719 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of PSUs initially reported on Form 4 in February 2016.
- F7Includes 1,953 shares acquired through accrual of dividend equivalents on the PSUs vested as of February 11, 2019.
- F8These shares were withheld upon the vesting of MRSUs and PSUs to pay tax witholding obligations.