Form 4: Synovus Director Converts Shares Post-Merger

Synovus Financial Corp. Director Barry L. Storey converted his Synovus shares into New Pinnacle stock following the merger effective January 1, 2026.

Summary

• Barry L. Storey, a Director of Synovus Financial Corp. (SNV), reported changes in his beneficial ownership of securities.
• The transactions occurred on January 1, 2026, at 11:59 p.m. ET, coinciding with the effective time of a merger.
• Synovus Financial Corp. merged with Pinnacle Financial Partners, Inc., resulting in the formation of New Pinnacle Inc.
• 50,699 shares of Synovus Common Stock directly owned by Mr. Storey were converted.
• An additional 14,285 shares of Synovus Common Stock indirectly owned by Mr. Storey via a Trust were also converted.
• These Synovus Common Stock shares were converted into 0.5237 shares of New Pinnacle Common Stock per Synovus share.
• 4,400 shares of Synovus Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, were converted into New Pinnacle's Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series A, on a 1:1 basis.
• 1,000 shares of Synovus Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, were converted into New Pinnacle's Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, on a 1:1 basis.
• The reported common stock holdings include 328 shares acquired through dividend accruals.

Sentiment

Score: 5

Explanation: Neutral, as the filing is a mandatory report of a completed merger-related stock conversion, not an announcement of new operational performance or strategic initiatives.

Industry Context

This filing reflects a completed merger within the financial services sector, indicating ongoing consolidation trends in the banking industry where companies combine to achieve scale, expand market reach, or enhance operational efficiencies.

Stakeholder Impact

• Shareholders of Synovus Financial Corp. had their common and preferred stock converted into shares of New Pinnacle, reflecting a change in their investment vehicle following the merger.

Key Dates

Keywords

Synovus, SNV, Pinnacle Financial Partners, New Pinnacle, merger, stock conversion, beneficial ownership, Form 4, director, common stock, preferred stock