Sec Form 4 Filing - Howard Kevin Joseph @ SYNOVUS FINANCIAL CORP - 2022-02-07

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Howard Kevin Joseph
2. Issuer Name and Ticker or Trading Symbol
SYNOVUS FINANCIAL CORP [ SNV]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
EVP, Chief Wholesale Bank. Off
(Last) (First) (Middle)
P.O. BOX 120
3. Date of Earliest Transaction (MM/DD/YY)
02/07/2022
(Street)
COLUMBUS, GA31902
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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
Common Stock 02/07/2022 A 744( 1 ) A $ 51.07 79,984 D
Common Stock 02/07/2022 D 9,033( 2 ) D $ 0 70,951 D
Common Stock 02/07/2022 F 1,203( 3 ) D $ 51.07 69,748 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Howard Kevin Joseph
P.O. BOX 120
COLUMBUS, GA31902
EVP, Chief Wholesale Bank. Off
Signatures
/s/ Mary Maurice Young 02/09/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On February 7, 2019, the reporting person received a grant of market restricted with a service-based component as well as a Total Shareholder Return Multiplier (the "2019 MRSUs"). These 2019 MRSUs were included on the Form 3 filed on February 1, 2022 by the reporting person (the "Form 3"). On February 7, 2022, pursuant to the terms of the service-based vesting component of the 2019 MRSUs, the third tranche of such award vested. Based upon the Total Shareholder Return Multiplier, the reporting person received 446 additional shares of the Company's restricted stock, such shares representing the amount vested in excess of the target amount of 2019 MRSUs initially included on the Form 3. In addition, the reporting person received 298 shares of the Company's restricted stock through the accrual of dividend equivalents.
( 2 )On February 7, 2019, the reporting person received a grant of performance stock units (the "PSUs") with a service-based vesting component as well as a performance vesting requirement. These PSUs were included on the Form 3. While the reporting person has satisfied the service-based vesting requirement, the actual amount of PSUs which vested on February 7, 2022 was 0% of the target amount based upon the results of two performance measures during the performance period compared to the performance formula approved by the Compensation and Human Capital Committee of Synovus' Board of Directors. As such, the reporting person received 9,033 less shares (which includes the award plus dividend equivalent rights on those underlying shares) than initially included on the Form 3.
( 3 )These shares were withheld upon the vesting of 2019 MRSUs to pay tax withholding obligations.

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).

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