Form 4: Pinnacle CFO Converts Shares in Synovus Merger

Pinnacle Financial Partners' EVP & CFO, Harold R. Carpenter, converted all his common stock holdings into shares of New Pinnacle Common Stock as part of a merger effective January 1, 2026.

Summary

• Harold R. Carpenter, Executive Vice President and Chief Financial Officer of Pinnacle Financial Partners Inc. (PNFP), reported a change in beneficial ownership.
• On January 1, 2026, all shares of Pinnacle Common Stock were converted into shares of New Pinnacle Common Stock.
• This conversion was a direct result of the completion of a merger agreement dated July 24, 2025.
• The merger involved Synovus Financial Corp., Pinnacle Financial Partners, Inc., and Pinnacle Financial Partners, Inc. (f/k/a Steel Newco Inc., referred to as New Pinnacle).
• Carpenter's direct ownership of 93,245 shares of PNFP Common Stock was converted.
• His indirect ownership of 13,631 shares of PNFP Common Stock, held in a 401(k) plan, was also converted.
• The transaction code indicates a disposition (D) with a reported price of 0, reflecting a stock conversion rather than a sale transaction.

Sentiment

Score: 5

Explanation: The filing is a factual report of an insider's stock conversion due to a merger, providing no direct positive or negative sentiment regarding company performance.

Future Outlook

The completion of the merger on January 1, 2026, marks a significant strategic event, transitioning Pinnacle Financial Partners' common stock into New Pinnacle Common Stock and establishing a new operational phase for the combined entity.

Industry Context

The merger of Pinnacle Financial Partners into a new entity involving Synovus Financial Corp. reflects ongoing consolidation trends within the U.S. banking and financial services sector, driven by factors such as economies of scale, market expansion, and competitive pressures.

Stakeholder Impact

• Shareholders of Pinnacle Financial Partners, Inc. had their common stock converted into shares of New Pinnacle Common Stock as a direct result of the merger.

Key Dates

Keywords

Pinnacle Financial Partners, PNFP, Synovus Financial Corp., merger, stock conversion, Form 4, insider transaction, Harold R. Carpenter, EVP & CFO