4//SEC Filing
Cummins Hugh S. III 4
Accession 0001664272-22-000284
CIK 0000092230other
Filed
Oct 3, 8:00 PM ET
Accepted
Oct 4, 2:55 PM ET
Size
13.8 KB
Accession
0001664272-22-000284
Insider Transaction Report
Form 4
Cummins Hugh S. III
Vice Chair & COO
Transactions
- Exercise/Conversion
Restricted Stock Units
2022-10-01−88,858.081→ 0 totalExercise: $0.00From: 2022-10-01Exp: 2022-10-01→ Common Stock (88,858.081 underlying) - Exercise/Conversion
Common Stock
2022-10-01$43.54/sh+88,858.081$3,868,881→ 325,862.61 total - Tax Payment
Common Stock
2022-10-01$43.54/sh−39,489$1,719,351→ 286,373.61 total
Holdings
- 4,036.519(indirect: By 401(k))
Common Stock
- 55,924
Stock Option (right to buy)
Exercise: $21.17From: 2014-02-26Exp: 2023-02-26→ Common Stock (55,924 underlying) - 1,659.903
Phantom Stock Unit
Exercise: $0.00From: 2000-01-01Exp: 2000-01-01→ Common Stock (1,659.903 underlying)
Footnotes (4)
- [F1]Represents time-vested restricted stock units, each convertible into one share of common stock, under the SunTrust Banks, Inc. 2009 Stock Plan or the SunTrust Banks, Inc. 2018 Omnibus Incentive Compensation Plan. Pursuant to the Merger Agreement at the effective time of the Merger, each outstanding SunTrust time-vested restricted stock unit automatically converted into a Truist time-vested restricted stock unit convertible into shares of Truist common stock, with the number of underlying shares of Truist common stock determined as set forth in the Merger Agreement. Each Truist time-vested restricted stock unit is subject to the same terms and conditions (including vesting terms) as applied to the corresponding SunTrust time-vested restricted stock unit immediately prior to the effective time of the Merger.
- [F2]Represents phantom stock units under the SunTrust Banks, Inc. Deferred Compensation Plan. Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding SunTrust phantom stock unit automatically converted into a Truist phantom stock unit in respect of shares of Truist common stock, with the number of underlying shares of Truist common stock determined as set forth in the Merger Agreement. Each Truist phantom stock unit is subject to the same terms and conditions (including service-based vesting terms) as applied to the corresponding SunTrust phantom stock unit immediately prior to the effective time of the Merger.
- [F3]Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding and unexercised option to purchase shares of SunTrust common stock automatically converted into an option to purchase shares of Truist common stock, with the number of underlying shares and the exercise price determined as set forth in the Merger Agreement. Each option to purchase shares of Truist common stock is subject to the same terms and conditions (including vesting and exercisability terms) as the corresponding option to purchase shares of SunTrust common stock immediately prior to the effective time of the Merger.
- [F4]Because 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 Truist stock on the applicable measurement date.
Documents
Issuer
TRUIST FINANCIAL CORP
CIK 0000092230
Entity typeother
Related Parties
1- filerCIK 0001701995
Filing Metadata
- Form type
- 4
- Filed
- Oct 3, 8:00 PM ET
- Accepted
- Oct 4, 2:55 PM ET
- Size
- 13.8 KB