SYF Form 4: Curtis Howse Records 108,271 Dividend Equivalent Units

Rhea-AI Filing Summary

Curtis Howse, listed as an Officer of Synchrony Financial (SYF), reported an acquisition of 108,271 dividend equivalent units on 08/15/2025. The form states these units represent dividend equivalents on restricted stock units and vest and settle on the same terms as the underlying RSUs. Each dividend equivalent unit is economically equivalent to one share of Synchrony common stock. The reported per-unit value for the accrued dividend equivalents is $71.49. The filing was executed by attorney-in-fact Danielle Do on 08/19/2025.

Positive

• Transparent disclosure of 108,271 dividend equivalent units tied to RSUs for an officer
• Economic value reported at $71.49 per unit gives clear valuation on the accrual date

Negative

• None.

Insights

Financial Analyst

TL;DR: Officer received sizable dividend equivalent accrual equal to 108,271 shares at $71.49 each; impact on ownership depends on prior holdings.

The filing documents a non-cash accrual of dividend equivalent units tied to restricted stock units, not an open-market purchase or sale. These units vest and settle with the underlying RSUs, so they reflect compensation-related equity rather than active trading. The per-unit value of $71.49 provides a snapshot of economic value on the accrual date. For investors, this is a disclosure of executive compensation mechanics rather than a liquidity event affecting share supply.

Corporate Governance Expert

TL;DR: Disclosure shows executive equity accrual through dividend equivalents; filing appears routine and compliant.

This Form 4 records dividend equivalent units accruing to an officer and ties them to existing restricted stock units, indicating compensation is being recognized as equity-linked units that follow RSU terms. The report identifies the reporting person and role and is signed by an attorney-in-fact, which is common practice. There is no indication of accelerated vesting, sale, or change in control language in the filing text provided.

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

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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^*

Howse Curtis

(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)
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		209(1)	A	$71.49(1)	108,271	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. 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.

Remarks:

EVP, CEO--Home & Auto

	/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

What did Curtis Howse report on the Form 4 for SYF?

He reported the accrual of 108,271 dividend equivalent units on 08/15/2025, tied to restricted stock units.

What is the per-unit value reported for the dividend equivalent units?

The filing lists a value of $71.49 per dividend equivalent unit.

Do the dividend equivalent units represent actual shares immediately?

The units are described as economic equivalents to one share each and vest and settle on the same terms as the underlying RSUs, not necessarily immediately settled.

What role does Curtis Howse hold at Synchrony Financial according to the filing?

The filing identifies him as an Officer; remarks indicate role as EVP, CEO--Home & Auto.

When was the Form 4 signed and by whom?

The form was signed by attorney-in-fact Danielle Do on 08/19/2025.