SEC Form 4 · accession 0000750556-18-000071
SUNTRUST BANKS INC · STI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hugh S. Cummins III
Officer — CEVP & Wholesale Banking Exec
Period of report
Feb 21, 2018
Accepted (ET)
Feb 23, 2018 · 12:42 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000750556
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 21, 2018 | M | 5,320 | $71.45 | A | 53,486 | D | |
| Common Stock | Feb 15, 2018 | F | 2,288 | $71.45 | D | 51,198 | D | |
| Common StockF1 | holding | — | — | — | 2,852 | I | 401(k) |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF4 | — | Feb 21, 2018 | M | 5,320 | D | Feb 21, 2017 | Feb 21, 2018 | Common Stock | 5,320 | 0 | D |
| Phantom StockF3 | — | holding | — | — | — | — | — | Common Stock | 1,100 | 1,100 | D |
| Phantom StockF2 | — | holding | — | — | — | Feb 14, 2020 | Feb 14, 2020 | Common Stock | 1,972 | 1,972 | D |
| Phantom StockF2 | — | holding | — | — | — | Feb 14, 2019 | Feb 14, 2019 | Common Stock | 1,972 | 1,972 | D |
| Phantom StockF2 | — | holding | — | — | — | Feb 9, 2020 | Feb 9, 2020 | Common Stock | 46,489 | 46,489 | D |
| Phantom StockF2 | — | holding | — | — | — | Feb 9, 2019 | Feb 9, 2019 | Common Stock | 46,489 | 46,488,514 | D |
| Phantom StockF2 | — | holding | — | — | — | Feb 9, 2019 | Feb 9, 2019 | Common Stock | 3,626 | 3,626 | D |
| Phantom StockF5 | — | holding | — | — | — | Feb 13, 2019 | — | Common Stock | 4,049 | 4,049 | D |
| Phantom StockF5 | — | holding | — | — | — | Feb 13, 2020 | — | Common Stock | 4,049 | 4,049 | D |
| Phantom StockF5 | — | holding | — | — | — | Feb 13, 2021 | — | Common Stock | 4,049 | 4,049 | D |
Explanation of responses
- F1Because 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 SunTrust stock on the applicable measureent date.
- F2Represents time-vested restricted stock units under the 2009 Stock Plan. The Plan is exempt under Rule 16b-3. The restricted stock unit award agreements contain tax withholding features which allow us to withhold units to satisfy withholding obligations. Units will be settled in shares.
- F3The pantom stock units were acquired under SunTrust Banks, Inc.'s Deferred Compensation Plan. These securities convert to common stock on a one-for-one basis.
- F4Represents performance stock which was granted on February 21, 2014 and which vested on February 21, 2017. Award is settled in common stock. Because exceptional performance resulted in the award vesting at greater than 130% of target, the amount that vested in excess of 130% is subject to a one year deferral.
- F5Represents time-vested restricted stock units granted on February 13, 2018 under the SunTrust Banks, Inc. 2009 Stock Plan. The plan is exempt under Rule 16b-3. Units will be settled in shares. The award agreement contains tax withholding features which allow us to withhold units to satisfy tax withholding obligations.