[Form 4] SYNCHRONY FINANCIAL Insider Trading Activity

Rhea-AI Filing Summary

Reporting person: Richie Laurel, listed as a Director of Synchrony Financial (SYF). Transaction: On 08/15/2025 the reporting person received 125 dividend equivalent units that are the economic equivalent of common shares. Each unit is recorded at a value of $71.49. These dividend equivalent units were accrued as dividends paid on previously granted restricted stock units and deferred stock units under the company’s Long-Term Incentive Plans and Non-Employee Director Deferred Compensation Plan.

Post-transaction ownership: The filing shows 48,190 shares beneficially owned following the reported transaction, with ownership reported as direct. The Form 4 is signed by Danielle Do as attorney-in-fact on 08/19/2025.

Positive

• Disclosure of dividend-equivalent units shows transparent reporting of compensation-related share equivalents
• Post-transaction beneficial ownership is clearly stated as 48,190 shares, providing clarity on insider holdings
• Form 4 is properly executed by an attorney-in-fact on 08/19/2025, indicating formal attestation

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received dividend-equivalent units from prior equity awards, a routine compensation event reflecting non-cash shareholder-linked pay.

The filing documents an administrative accrual of 125 dividend equivalent units tied to previously granted restricted stock units and deferred stock units. This is a common governance practice to credit non-employee directors with economic equivalents of dividends without issuing fresh cash. The entry increases the director’s beneficial position to 48,190 shares, reported as direct ownership, and was executed and attested by an attorney-in-fact on 08/19/2025. There are no indications in this filing of unusual dilution, new grants, or changes to grant terms; it reports a routine compensation settlement mechanism only.

Securities Analyst

TL;DR: Small, non-cash share-equivalent accrual; immaterial to company capitalization but adjusts insider share count modestly.

The transaction represents the accrual of 125 dividend equivalent units valued at $71.49 each, converting dividend equivalents into share-equivalents for a director. Such units replicate economic exposure to common stock without issuance of new common shares at the time of accrual. The filing reports 48,190 shares beneficially owned after the accrual and is properly signed. This disclosure is routine and does not indicate operational or financial performance changes for Synchrony Financial.

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
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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^*

Richie Laurel

(Last) (First) (Middle)

C/O SYNCHRONY FINANCIAL

777 LONG RIDGE ROAD

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		A		125(1)	A	$71.49(1)	48,190	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. Represents dividend equivalent units accrued on August 15, 2025 as dividends that were paid on the common shares underlying restricted stock units and deferred stock units previously granted to the Reporting Person under the Company's Long-Term Incentive Plans and Non-Employee Director Deferred Compensation Plan. Each dividend equivalent unit is the economic equivalent of one share of Synchrony Financial common stock.

Remarks:

	/s/ Danielle Do, as attorney in fact	08/19/2025
	** 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

Who filed the Form 4 for Synchrony Financial (SYF)?

The Form 4 reports transactions by Richie Laurel, identified as a Director of Synchrony Financial.

What transaction occurred on 08/15/2025 in the SYF Form 4?

On 08/15/2025 125 dividend equivalent units were accrued and treated as paid; each unit is the economic equivalent of one share valued at $71.49.

How many shares does the reporting person beneficially own after the transaction?

The filing states the reporting person beneficially owns 48,190 shares following the reported transaction.

What is the source of the dividend equivalent units in the Form 4?

The units were accrued as dividends on previously granted restricted stock units and deferred stock units under the company’s Long-Term Incentive Plans and Non-Employee Director Deferred Compensation Plan.

When was the Form 4 signed?

The Form 4 is signed by /s/ Danielle Do, as attorney-in-fact on 08/19/2025.