SYNOVUS FINANCIAL CORP 4
4 · SYNOVUS FINANCIAL CORP · Filed Dec 15, 2014
Insider Transaction Report
Form 4
PRESCOTT THOMAS J
EVP and CFO
Transactions
- Tax Payment
Common Stock
2014-12-11$26.20/sh−534$13,991→ 60,761 total - Award
Common Stock
2014-12-11$26.20/sh+178$4,664→ 61,295 total - Award
Salary Stock Unit
2014-12-12$25.77/sh+133$3,427→ 3,235 totalExercise: $0.00→ Common Stock (133 underlying)
Footnotes (3)
- [F1]On December 11, 2013, the reporting person reported the grant of certain market restricted stock units (the "MRSUs"). The MRSUs have a service-based vesting component as well as a Total Shareholder Return Multiplier. On December 11, 2014, pursuant to the terms of the service-based vesting component of the MRSUs, the first tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the reporting person received 160 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of MRSUs initially reported on Form 4 in December 2013. In addition, the reporting person received 18 shares of the Company's restricted stock through the accrual of dividend equivalents.
- [F2]These shares were withheld upon the vesting of restricted stock units to pay tax witholding obligations.
- [F3]Salary stock units ("SSUs") are restricted stock units issued bi-weekly as a portion of the reporting person's salary compensation, net of withholdings and deductions, and are issued under the Synovus Financial Corp. 2013 Omnibus Plan. An SSU represents the right to receive a cash payment equal to the future value of a share of Synovus common stock. For more information, please see the Current Report on Form 8-K filed by Synovus on January 24, 2014, as amended on February 5, 2014. SSUs are fully vested on the date of grant and will settle in cash on January 15, 2015.