Form 4: Pinnacle Financial Officer Converts Shares Post-Merger
Insider Transaction Report
Charissa D. Sumerlin, EVP and Chief Credit Officer, converted 10,893 shares of Pinnacle Financial Partners common stock into New Pinnacle common stock following a merger effective January 1, 2026.
Summary
- Charissa D. Sumerlin, EVP and Chief Credit Officer of Pinnacle Financial Partners Inc. (PNFP), reported a change in beneficial ownership.
- On January 1, 2026, 10,893 shares of PNFP Common Stock were converted into shares of New Pinnacle Common Stock.
- This conversion occurred at 11:59 p.m. ET as part 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., now 'New Pinnacle').
- Each share of Pinnacle Common Stock was converted into one share of New Pinnacle Common Stock.
- Following the transaction, Sumerlin beneficially owns 0 shares of PNFP Common Stock.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of a corporate action (merger-related stock conversion) that was previously announced and expected. It does not contain new information that would significantly alter sentiment.
Future Outlook
The filing reports the completion of a previously announced merger, effective January 1, 2026, which resulted in the conversion of Pinnacle Financial Partners common stock into New Pinnacle common stock.
Industry Context
This transaction reflects ongoing consolidation trends within the financial services sector, where mergers and acquisitions are common strategies for growth, market expansion, and achieving operational efficiencies. The conversion of shares is a standard procedural step following the completion of such corporate actions.
Stakeholder Impact
- Shareholders of Pinnacle Financial Partners Inc. had their common stock converted into common stock of New Pinnacle, as per the merger agreement.
Key Dates
| Date | Description |
|---|---|
| 2025-07-24 | Date of the Agreement and Plan of Merger between Synovus Financial Corp., Pinnacle Financial Partners, Inc., and New Pinnacle. |
| 2026-01-01 | Effective Time of the merger and conversion of Pinnacle Common Stock into New Pinnacle Common Stock. |
| 2026-01-02 | Date the Form 4 was signed by Charissa D. Sumerlin. |
Keywords
Pinnacle Financial Partners, PNFP, Synovus Financial Corp, Merger, Stock Conversion, Form 4, Beneficial Ownership, Executive Compensation, Charissa D. Sumerlin, Chief Credit Officer
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