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SYNOVUS FINANCIAL CORP — Director's Dealing 2014
May 20, 2014
30812_dirs_2014-05-20_40a5fcd0-72d8-4c9d-a3da-c9a0caece856.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: SYNOVUS FINANCIAL CORP (SNV)
CIK: 0000018349
Period of Report: 2014-05-16
Reporting Person: PRESCOTT THOMAS J (EVP and CFO)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2014-05-16 | Salary Stock Unit | $0.00 | A | 158 | Acquired | Common Stock (158) | Direct |
Footnotes
F1: 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.
F2: The Company completed a one-for-seven reverse stock split effective May 16, 2014. The amount stated represents the post-split adjusted amount, and fractional shares are not included because all fractional shares will be aggregated into whole shares and sold on the open market at prevailing prices by the Company's transfer agent. In lieu of fractional shares, the reporting person will receive a cash payment equal to his or her allocable share of the totel proceeds of these sales.
F3: The amount stated has also been adjusted to correct a computational error. SSU grants made prior to February 7, 2014 were included in the reporting person's balance in error, as such previous grants settled in cash on or before January 15, 2014, as previously reported.