Synovus Financial Corp (SNV) executive details PSU vesting and tax share withholding
Rhea-AI Filing Summary
Synovus Financial Corp executive Mary Maurice Young, EVP and Chief Human Resources Officer, reported multiple equity award settlements and related share movements on 12/11/2025. Performance stock units covering 6,586 and 7,762 shares were converted into common stock at $52.65 per share, and she received an additional 4,404 and 4,578 restricted shares from performance above target and accrued dividend equivalents.
To cover tax obligations tied to these vestings, 6,188, 6,948 and 2,032 shares were withheld. After all transactions, Young directly owned 33,947 Synovus common shares. The disclosure notes that vesting of certain restricted stock units and performance stock units was accelerated so compensation income is recognized in 2025 to help mitigate potential excise tax under Sections 280G and 4999 of the Internal Revenue Code in connection with a proposed business combination with Pinnacle Financial Partners.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Units | 6,586 | $0.00 | -- |
| Exercise | Performance Stock Units | 7,762 | $0.00 | -- |
| Exercise | Common Stock | 6,586 | $52.65 | $347K |
| Grant/Award | Common Stock | 4,404 | $52.65 | $232K |
| Tax Withholding | Common Stock | 6,188 | $52.65 | $326K |
| Exercise | Common Stock | 7,762 | $52.65 | $409K |
| Grant/Award | Common Stock | 4,578 | $52.65 | $241K |
| Tax Withholding | Common Stock | 6,948 | $52.65 | $366K |
| Tax Withholding | Common Stock | 2,032 | $52.65 | $107K |
Footnotes (1)
- These shares are subject to performance stock units (the "PSUs"). The PSUs have a service-based vesting component as well as a performance vesting requirement. 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 vesting component, two performance measures (weighted average return on tangible common equity and relative total shareholder return) are measured over a three-year performance period, with each measure impacting one-half of the PSUs awarded to the reporting person. The actual payout of the PSUs may range from 0% to 150% of the target amount based upon the results of the two performance measures during the performance period compared to the performance objective approved by the Compensation and Human Capital Committee of Synovus' Board of Directors. On February 17, 2023, the reporting person reported the grant of PSUs. Based upon the Company's determination of performance for the relevant performance period, the reporting person received 3,294 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 4 filed in February 2023. In addition, the reporting person received 1,110 shares through the accrual of dividend equivalents. These shares were withheld upon the vesting of performance stock units to pay tax withholding obligations. On February 20, 2024, the reporting person reported the grant of PSUs. Based upon the Company's determination of performance for the relevant performance period, the reporting person received 3,882 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 4 filed in February 2024. In addition, the reporting person received 696 shares through the accrual of dividend equivalents. These shares were withheld upon the vesting of restricted stock units to pay tax withholding obligations. The vesting of certain restricted stock units that would otherwise vest in February of 2026 and PSUs that would otherwise vest in accordance with their terms at the end of the 2025 fiscal year or upon the consummation of the proposed business combination with Pinnacle Financial Partners ("Pinnacle"), in each case held by the reporting person, was accelerated so that the compensation income resulting from the settlement of these awards will be recognized by the reporting person in 2025 for the purpose of mitigating the impact of the excise tax that might otherwise be imposed on the reporting person under Sections 280G and 4999 of the Internal Revenue Code in connection with the proposed business combination with Pinnacle.
FAQ
What insider stock transactions did Synovus Financial Corp (SNV) report for Mary Maurice Young?
Mary Maurice Young, Synovus' EVP and Chief Human Resources Officer, reported the settlement of performance stock units into common stock at $52.65 per share, receipt of additional restricted shares from above-target performance and dividend equivalents, and share withholding to cover tax obligations on 12/11/2025.
How do performance stock units (PSUs) work in Synovus Financial Corp's plan?
The reported performance stock units (PSUs) have both service-based and performance-based vesting. They vest 100% after three years of continued employment, and payouts range from 0% to 150% of the target amount based on two measures: weighted average return on tangible common equity and relative total shareholder return over a three-year performance period.
What performance period and metrics determine Synovus (SNV) PSU payouts for executives?
The PSUs use a three-year performance period. Two metrics are measured: weighted average return on tangible common equity and relative total shareholder return, each affecting half of the PSUs. Actual payout can range from 0% to 150% of the target based on performance versus objectives approved by the Compensation and Human Capital Committee of Synovus' Board of Directors.