Synchrony Financial insider adds dividend and phantom stock units

Rhea-AI Filing Summary

Synchrony Financial (SYF) executive reports dividend-related equity awards. On 11/17/2025, an officer serving as EVP, CEO–Health & Wellness reported receiving 213 dividend equivalent units at a reference price of $70.47 per unit, tied to restricted stock units in Synchrony common stock. Following this, the officer beneficially owned 57,130 shares of common stock directly.

The filing also shows acquisition of 0.78 phantom stock units under the Synchrony Financial Deferred Compensation Plan, increasing total phantom stock units beneficially owned to 184.13. Both the dividend equivalent units and phantom stock units are described as economically equivalent to shares of Synchrony common stock, with the phantom units to be settled in cash six months after the officer’s separation from service, in line with plan terms.

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	213	$70.47	$15K

Holdings After Transaction: Phantom Stock Units — 184.13 shares (Direct); Dividend Equivalent Unit — 57,130 shares (Direct)

Footnotes (1)

1. Represents dividend equivalent units accrued on November 17, 2025 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.

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 CT 06902

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

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
Dividend Equivalent Unit	11/17/2025		A		213(1)	A	$70.47(1)	57,130	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)	11/17/2025		A		0.78		(2)	(2)	Common Stock	0.78	$0	184.13	D

Explanation of Responses:

1. Represents dividend equivalent units accrued on November 17, 2025 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	11/19/2025
	** 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.

FAQ

What insider transaction did Synchrony Financial (SYF) report on this Form 4?

The filing reports that a Synchrony Financial officer received 213 dividend equivalent units on 11/17/2025 related to restricted stock units, and 0.78 phantom stock units under the company’s Deferred Compensation Plan.

How many Synchrony Financial (SYF) shares does the reporting person now own?

After the reported transaction, the officer beneficially owned 57,130 shares of Synchrony Financial common stock directly.

What are the dividend equivalent units reported by the SYF executive?

The 213 dividend equivalent units represent dividends paid on common shares underlying restricted stock units. They vest and settle on the same schedule and terms as the related restricted stock units, and each unit is the economic equivalent of one share of Synchrony common stock.

What are the phantom stock units in the Synchrony Financial Deferred Compensation Plan?

The phantom stock units were acquired through a dividend reinvestment feature in the Synchrony Financial Deferred Compensation Plan. Each phantom unit is the economic equivalent of one share of Synchrony common stock and is to be settled in cash six months after the officer’s separation from service, subject to plan requirements.

What is the officer’s role at Synchrony Financial (SYF)?

The reporting person is an officer of Synchrony Financial, holding the title EVP, CEO–Health & Wellness.

Did the SYF officer pay a price for the phantom stock units?

The filing shows the price of the phantom stock units as $0, consistent with acquisition through a dividend reinvestment feature rather than a market purchase.