Form 4: Synovus EVP Converts Equity Post-Merger into New Pinnacle

Synovus EVP and Chief Risk Officer, Shellie Creson, converted her Synovus common stock, PSUs, and RSUs into New Pinnacle Common Stock following the merger effective January 1, 2026.

Summary

• Shellie Creson, Executive Vice President and Chief Risk Officer of Synovus Financial Corp., reported changes in beneficial ownership.
• The transaction occurred on January 1, 2026, which was the effective time of the merger between Synovus Financial Corp. and Pinnacle Financial Partners, Inc. (now New Pinnacle).
• Each share of Synovus Common Stock was converted into 0.5237 shares of New Pinnacle Common Stock.
• 28,684 shares of Synovus Common Stock were disposed of, including 1,426 shares acquired through dividend accruals and Synovus' Employee Stock Purchase Plan.
• Performance Stock Units (PSUs) totaling 7,536, 8,460, and 6,245 units were converted into New Pinnacle Common Stock based on maximum performance and the Synovus Exchange Ratio, including dividend accruals.
• Restricted Stock Units (RSUs) totaling 4,039 units were assumed by New Pinnacle, relating to New Pinnacle Common Stock based on the Synovus Exchange Ratio.

Sentiment

Score: 6

Explanation: The filing is a factual report of an executive's equity conversion following a merger. The conversion of Performance Stock Units at maximum performance suggests favorable outcomes for the executive's compensation tied to company performance prior to the merger.

Positives

• Performance Stock Units were converted based on maximum performance, indicating strong achievement of performance targets for the executive prior to the merger.

Future Outlook

NA

Industry Context

The filing details the post-merger conversion of executive equity holdings, reflecting the finalization of a significant consolidation event in the financial services sector. Such mergers are common strategies for banks to achieve scale, expand market reach, and enhance competitive positioning.

Stakeholder Impact

• Shareholders: The merger resulted in the conversion of Synovus shares into New Pinnacle shares, directly impacting Synovus shareholders' holdings.
• Employees (specifically the reporting person): The executive's equity awards (RSUs, PSUs) were converted or assumed by New Pinnacle, affecting their long-term incentive compensation structure.

Key Dates

Keywords

Synovus, SNV, Pinnacle Financial Partners, New Pinnacle, Merger, Form 4, Insider Trading, Executive Compensation, Stock Conversion, Restricted Stock Units, Performance Stock Units, Common Stock