Synovus (SNV) director logs common and preferred share conversion

Rhea-AI Filing Summary

Synovus Financial Corp director Mary Maurice Young reported the conversion of her Synovus securities in connection with the completion of a merger with Pinnacle Financial Partners, Inc. and a Georgia corporation renamed Pinnacle Financial Partners, Inc. (New Pinnacle). At 11:59 p.m. ET on January 1, 2026, each share of Synovus common stock, $1.00 par value per share, was converted into 0.5237 shares of New Pinnacle common stock, $1.00 par value per share. The filing shows the disposition of 41,735 shares of Synovus common stock and 8,000 shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, with zero shares of each class directly owned afterward. The common stock amount includes 313 shares acquired through dividend accruals, and each Series D preferred share was converted into the right to receive one share of New Pinnacle’s corresponding Series A preferred stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bentsen Tim E

(Last) (First) (Middle)

P.O. BOX 120

(Street)

COLUMBUS GA 31902

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SYNOVUS FINANCIAL CORP [ SNV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/01/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/01/2026		D(1)		41,735(2)	D	(1)	0	D
Fixed/Floating Rate Non-Cum Perpetual Preferred Stock Ser D	01/01/2026		D(3)		8,000	D	(3)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On 11:59 p.m. ET on January 1, 2026 (the "Effective Time"), in accordance with the completion of the transactions contemplated by the Agreement and Plan of Merger (the "Merger Agreement"), dated as of July 24, 2025, by and among Synovus Financial Corp. ("Synovus"), a Georgia corporation, Pinnacle Financial Partners, Inc., a Tennessee corporation, and Pinnacle Financial Partners, Inc. (f/k/a Steel Newco Inc.), a Georgia corporation ("New Pinnacle"), and subject to the terms and upon the conditions set forth in the Merger Agreement, each share of common stock of Synovus, $1.00 par value per share ("Synovus Common Stock"), was converted into 0.5237 shares (the "Synovus Exchange Ratio") of common stock of New Pinnacle, $1.00 par value per share ("New Pinnacle Common Stock").

2. Includes 313 shares acquired through dividend accruals.

3. At the Effective Time, each Synovus share of Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, no par value, was converted into the right to receive one share of New Pinnacle's Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series A, no par value.

Remarks:

	/s/ Mary Maurice Young	01/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did Synovus Financial Corp (SNV) report in this Form 4?

The filing reports that director Mary Maurice Young disposed of Synovus securities as part of a merger transaction. She reported the disposition of 41,735 shares of Synovus common stock and 8,000 shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, with zero shares of each class directly owned following the conversion.

What was the Synovus to New Pinnacle common stock exchange ratio in the merger?

At 11:59 p.m. ET on January 1, 2026, each share of Synovus common stock, $1.00 par value per share, was converted into 0.5237 shares of New Pinnacle common stock, $1.00 par value per share. This exchange ratio is referred to as the Synovus Exchange Ratio in the filing.

How were Synovus Series D preferred shares treated in the Pinnacle merger?

At the Effective Time, each Synovus share of Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, no par value, was converted into the right to receive one share of New Pinnacle's Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series A, no par value.

What is the Effective Time and date of the Synovus–Pinnacle transaction?

The Effective Time was 11:59 p.m. ET on January 1, 2026. At that time, in accordance with the Agreement and Plan of Merger dated July 24, 2025, Synovus common and preferred shares were converted into securities of New Pinnacle as described in the filing.

Did the Synovus director still directly own Synovus shares after the reported transaction?

No. Following the reported transaction, the Form 4 shows that the director directly owned 0 shares of Synovus common stock and 0 shares of Synovus Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, as the shares had been converted under the merger terms.

What portion of the reported Synovus common stock reflected dividend accruals?

The filing notes that the reported holdings of Synovus common stock included 313 shares that were acquired through dividend accruals before being converted into New Pinnacle common stock at the Synovus Exchange Ratio.