[Form 4] SYNOVUS FINANCIAL CORP Insider Trading Activity
Rhea-AI Filing Summary
Synovus Financial Corp reported an insider equity change tied to its merger with New Pinnacle. On January 1, 2026, officer Mary Maurice Young, EVP & Executive Director, Treasury, disposed of 32,417 shares of Synovus common stock, leaving her with 0 Synovus shares directly owned after the transaction. This reflects the merger closing, where each Synovus share was converted into 0.5237 shares of New Pinnacle common stock.
The filing also shows a disposition of 5,678 performance stock units tied to Synovus common stock, with none remaining afterward. According to the merger terms, Synovus restricted stock units were assumed by New Pinnacle and performance stock units were converted into rights to receive New Pinnacle common stock based on the same exchange ratio, after tax withholdings.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Performance Stock Units | 5,678 | $0.00 | -- |
| Disposition | Common Stock | 32,417 | $0.00 | -- |
Footnotes (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"). Includes 772 shares acquired through dividend accruals and in the ordinary course through Synovus' Employee Stock Purchase Plan. At the Effective Time, (a) each outstanding restricted stock unit ("RSU") in respect of Synovus Common Stock (each, a "Synovus RSU Award") was assumed by New Pinnacle, with each assumed Synovus RSU Award relating solely to a number of shares of New Pinnacle Common Stock determined by multiplying the number of shares of Synovus Common Stock underlying each assumed Synovus RSU Award immediately prior to the Effective Time by the Synovus Exchange Ratio and (b) each performance stock unit ("PSU") of Synovus was converted into the right to receive a number of shares of New Pinnacle Common Stock equal to the number of shares of Synovus Common Stock subject to such PSU (based on maximum performance) immediately prior to the Effective Time multiplied by the Synovus Exchange Ratio, less applicable tax withholdings. Includes 170 shares acquired through dividend accruals.
