SYNOVUS FINANCIAL CORP — Director's Dealing 2021

Feb 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SYNOVUS FINANCIAL CORP (SNV)
CIK: 0000018349
Period of Report: 2021-02-07

Reporting Person: Blair Kevin S. (Director, Pres. & COO, Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-07	Common Stock	A	680	$40.50	Acquired	133851	Direct
2021-02-07	Common Stock	F	2320	$40.50	Disposed	131531	Direct
2021-02-08	Common Stock	A	525	$40.50	Acquired	132056	Direct
2021-02-08	Common Stock	F	1585	$40.50	Disposed	130471	Direct
2021-02-08	Common Stock	D	14300	$0.00	Disposed	116171	Direct

Footnotes

F1: On February 11, 2019, the reporting person reported the grant of certain market restricted stock units (the "2019 MRSUs"). The 2019 MRSUs have a service-based vesting component as well as a Total Shareholder Return Multiplier. On February 7, 2021, pursuant to the terms of the service-based vesting component of the 2019 MRSUs, the second tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the reporting person received 214 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of 2019 MRSUs initially reported on Form 4 in February 2019. In addition, the reporting person received 466 shares of the Company's restricted stock through the accrual of dividend equivalents.

F2: These shares were withheld upon the vesting of 2019 MRSUs to pay tax withholding obligations.

F3: On February 12, 2018, the reporting person reported the grant of certain market restricted stock units (the "2018 MRSUs"). The 2018 MRSUs have a service-based vesting component as well as a Total Shareholder Return Multiplier. On February 8, 2021, pursuant to the terms of the service-based vesting component of the 2018 MRSUs, the third tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the reporting person received 147 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of 2018 MRSUs initially reported on Form 4 in February 2018. In addition, the reporting person received 378 shares of the Company's restricted stock through the accrual of dividend equivalents.

F4: These shares were withheld upon the vesting of 2018 MRSUs to pay tax withholding obligations.

F5: On February 12, 2018, the reporting person reported the grant of certain performance stock units (the "PSUs"). The PSUs had a service-based vesting component as well as performance vesting requirement. While the reporting person has satisfied the service-based vesting requirement, the actual amount of PSUs which vested on February 8, 2021 was 0% of the target amount based upon the results of two performance measures during the performance period compared to the performance's formula approved by Compensation Committee of Synovus' Board of Directors. As such, the reporting person received 14,300 less shares (which includes the award reported on February 12, 2018 plus dividend equivalent rights on those underlying shares) than initially reported on Form 4 in February 2018.