Howard Kevin Joseph 4
4 · SYNOVUS FINANCIAL CORP · Filed Feb 22, 2024
Insider Transaction Report
Form 4
Howard Kevin Joseph
Chief Credit Officer
Transactions
- Award
Common Stock
2024-02-18$36.70/sh+7,586$278,406→ 73,062 total - Tax Payment
Common Stock
2024-02-18$36.70/sh−10,822$397,167→ 62,240 total
Footnotes (2)
- [F1]On February 18, 2021, the reporting person received grants of performance stock units (the "PSUs") with a service-based vesting component as well as a performance-based vesting requirement. These PSUs were included on the Form 3 filed on February 1, 2022 by the reporting person (the "Form 3"). 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-based vesting component, Synovus' weighted average return on average assets is measured over a three-year performance period. Based upon the Total Shareholder Return Multiplier, the reporting person received 5,517 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 the Form 3 filed in February 2022. In addition, the reporting person received 2,069 shares through the accrual of dividend equivalents.
- [F2]These shares were withheld upon the vesting of performance stock units to pay tax withholding obligations.