Synchrony Financial (SYF) officer granted dividend equivalent and phantom units

Rhea-AI Filing Summary

Synchrony Financial officer Alberto Casellas reported routine compensation-related awards rather than market trades. He acquired 181 dividend equivalent units on May 15, 2026 at a reference value of $71.38 per unit, bringing his related stock-based holdings to 50,512 units.

He was also credited with 0.78 phantom stock units under the Synchrony Financial Deferred Compensation Plan, increasing that balance to 185.67 units. Each dividend equivalent or phantom unit is economically equal to one share of Synchrony Financial common stock, with the phantom units to be settled in cash six months after his separation from service.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Casellas Alberto

Role See remarks

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.78	$0.00	--
Grant/Award	Dividend Equivalent Unit	181	$71.38	$13K

Holdings After Transaction: Phantom Stock Units — 185.67 shares (Direct, null); Dividend Equivalent Unit — 50,512 shares (Direct, null)

Footnotes (1)

1. Represents dividend equivalent units accrued on May 15, 2026 as dividends that were paid on the common shares underlying restricted stock units. The dividend equivalent units vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted stock units to which they relate. Each dividend equivalent unit is the economic equivalent of one share of Synchrony Financial common stock. The reported phantom stock units were acquired pursuant to a dividend reinvestment feature under the Synchrony Financial Deferred Compensation Plan (the "Deferred Compensation Plan") and are to be settled, in cash, six months following the Reporting Person's separation from service to the Company, subject to the requirements set forth in the Deferred Compensation Plan. Each phantom stock unit is the economic equivalent of one share of Synchrony Financial common stock.

Key Figures

Dividend equivalent units granted: 181 units Reference price per dividend equivalent unit: $71.38 per unit Dividend equivalent units after transaction: 50,512 units +2 more

5 metrics

Dividend equivalent units granted 181 units Accrued as of May 15, 2026

Reference price per dividend equivalent unit $71.38 per unit Dividend equivalent units on May 15, 2026

Dividend equivalent units after transaction 50,512 units Total stock-based units following acquisition

Phantom stock units acquired 0.78 units Credited via dividend reinvestment feature

Phantom stock units after transaction 185.67 units Deferred Compensation Plan balance following acquisition

Key Terms

Dividend Equivalent Unit, Phantom Stock Units, Deferred Compensation Plan, dividend reinvestment feature

4 terms

Dividend Equivalent Unit financial

"Represents dividend equivalent units accrued on May 15, 2026 as dividends that were paid on the common shares underlying restricted stock units."

Phantom Stock Units financial

"The reported phantom stock units were acquired pursuant to a dividend reinvestment feature under the Synchrony Financial Deferred Compensation Plan."

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Deferred Compensation Plan financial

"The reported phantom stock units were acquired pursuant to a dividend reinvestment feature under the Synchrony Financial Deferred Compensation Plan."

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

dividend reinvestment feature financial

"The reported phantom stock units were acquired pursuant to a dividend reinvestment feature under the Synchrony Financial Deferred Compensation Plan."

Form 4 Insider Transactions: What Each Field Means →

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Casellas Alberto

(Last) (First) (Middle)

777 LONG RIDGE ROAD

C/O CORPORATE SECRETARY

(Street)

STAMFORD CONNECTICUT 06902

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Synchrony Financial [ SYF ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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

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

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

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
Dividend Equivalent Unit	05/15/2026		A		181(1)	A	$71.38(1)	50,512	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
Phantom Stock Units	(2)	05/15/2026		A		0.78		(2)	(2)	Common Stock	0.78	$0	185.67	D

Explanation of Responses:

1. Represents dividend equivalent units accrued on May 15, 2026 as dividends that were paid on the common shares underlying restricted stock units. The dividend equivalent units vest proportionately with and are subject to settlement and expiration upon the same terms as the restricted stock units to which they relate. Each dividend equivalent unit is the economic equivalent of one share of Synchrony Financial common stock.

2. The reported phantom stock units were acquired pursuant to a dividend reinvestment feature under the Synchrony Financial Deferred Compensation Plan (the "Deferred Compensation Plan") and are to be settled, in cash, six months following the Reporting Person's separation from service to the Company, subject to the requirements set forth in the Deferred Compensation Plan. Each phantom stock unit is the economic equivalent of one share of Synchrony Financial common stock.

Remarks:

EVP, CEO--Health & Wellness

	/s/ Danielle Do as attorney in fact	05/19/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Alberto Casellas report acquiring in Synchrony Financial (SYF) on this Form 4?

Alberto Casellas reported acquiring dividend equivalent units and phantom stock units as part of compensation programs, not open-market trades. He received 181 dividend equivalent units and 0.78 phantom stock units that mirror Synchrony Financial common stock value under existing award and deferred compensation arrangements.

What are dividend equivalent units in the Synchrony Financial (SYF) filing?

Dividend equivalent units are credits that mirror cash dividends on restricted stock units, tracking Synchrony Financial’s common shares. In this filing, 181 units accrued on May 15, 2026 and vest and settle on the same schedule and terms as the underlying restricted stock units to which they relate.

What are phantom stock units in Synchrony Financial’s (SYF) Deferred Compensation Plan?

Phantom stock units are bookkeeping entries under Synchrony Financial’s Deferred Compensation Plan that track the value of common stock. The reported units were acquired via dividend reinvestment and are scheduled to be settled in cash six months after the reporting person’s separation from service, subject to plan requirements.

Did the Synchrony Financial (SYF) Form 4 show any insider share buying or selling?

The Form 4 shows no open-market buying or selling. Instead, it reports grant-type acquisitions coded as “A”: dividend equivalent units tied to restricted stock units and phantom stock units credited through a dividend reinvestment feature in the company’s Deferred Compensation Plan.

How many dividend equivalent and phantom stock units does Alberto Casellas hold after these SYF transactions?

After these transactions, Alberto Casellas holds 50,512 dividend equivalent units linked to restricted stock units and 185.67 phantom stock units under the Deferred Compensation Plan. Both types of units are economically equivalent in value to Synchrony Financial common stock.