Form 4: Pinnacle Director Reports Share Conversion Post-Merger
Insider Transaction Report
Pinnacle Financial Partners director Gregory L. Burns reported the conversion of his common stock holdings into shares of New Pinnacle Common Stock following the merger effective January 1, 2026.
Summary
- Director Gregory L. Burns reported changes in beneficial ownership of Pinnacle Financial Partners Inc. (PNFP) common stock.
- The changes occurred on January 1, 2026, at 11:59 p.m. ET, due to the completion of a merger.
- Each share of Pinnacle Common Stock, $1.00 par value per share, was converted into one share of common stock of New Pinnacle, $1.00 par value per share.
- Burns' direct ownership of 21,384 shares of PNFP Common Stock was converted.
- An additional 174 shares of PNFP Common Stock held indirectly through a Spouse IRA were also converted.
- Following the reported transactions, Burns beneficially owns 0 shares of PNFP Common Stock.
Sentiment
Score: 5
Explanation: The filing is a standard Form 4 reporting a change in beneficial ownership due to a pre-announced merger, which is a neutral, procedural event. It does not contain information that would inherently sway sentiment positively or negatively regarding the company's operational performance or future prospects beyond the merger itself.
Future Outlook
The filing reports the completion of a merger where Pinnacle Financial Partners, Inc. common stock was converted into New Pinnacle Common Stock, effective January 1, 2026, as per the terms of the Merger Agreement.
Industry Context
The reported merger activity is consistent with ongoing consolidation trends within the financial services industry, where institutions often combine to achieve scale, expand geographic reach, or enhance service offerings.
Comparison to Industry Standards
- NA
Stakeholder Impact
- Shareholders of Pinnacle Financial Partners, Inc. had their common stock converted into shares of New Pinnacle Common Stock as a result of the merger.
Key Dates
| Date | Description |
|---|---|
| 07/24/2025 | Date of the Agreement and Plan of Merger (Merger Agreement) between Synovus Financial Corp., Pinnacle Financial Partners, Inc., and Pinnacle Financial Partners, Inc. (f/k/a Steel Newco Inc.). |
| 01/01/2026 | Effective Time of the merger, when Pinnacle Common Stock was converted into New Pinnacle Common Stock. |
| 01/02/2026 | Signature date of the reporting person on the Form 4. |
Keywords
Pinnacle Financial Partners, PNFP, Synovus Financial Corp, Merger, Stock Conversion, Form 4, Insider Transaction, Beneficial Ownership, Gregory L. Burns, Financial Services
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