Form 4: Synovus EVP Wolverton Converts Holdings in New Pinnacle Merger

Synovus Financial Corp. Executive Vice President Elizabeth D. Wolverton reported the conversion of her Synovus common stock, RSUs, and PSUs into New Pinnacle common stock following the merger effective January 1, 2026.

Summary

• Elizabeth D. Wolverton, EVP, Head of Consumer Banking Brand Experience at Synovus Financial Corp., reported changes in beneficial ownership due to the merger with Pinnacle Financial Partners, Inc. (now New Pinnacle).
• The merger became effective at 11:59 p.m. ET on January 1, 2026.
• Each share of Synovus Common Stock was converted into 0.5237 shares of New Pinnacle Common Stock.
• Wolverton's 32,341 shares of Synovus Common Stock were disposed of (converted), including 678 shares acquired through dividend accruals.
• Her Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) in Synovus were also converted into New Pinnacle Common Stock.
• Specifically, 6,214 PSUs (including 668 shares from dividend accruals), 8,286 PSUs (including 524 shares from dividend accruals), and 5,395 PSUs (including 162 shares from dividend accruals) were converted.
• Additionally, 3,489 Restricted Stock Units were converted.
• Following these transactions, Wolverton beneficially owns 0 shares of Synovus Common Stock and 0 derivative securities of Synovus.

Sentiment

Score: 5

Explanation: This is a factual report of a completed transaction (stock conversion due to a merger) and does not inherently convey positive or negative sentiment regarding the company's operational performance or future prospects.

Future Outlook

NA

Industry Context

This filing reflects the completion of a significant merger in the regional banking sector, where Synovus Financial Corp. was acquired by Pinnacle Financial Partners, Inc. (now New Pinnacle). Such consolidation events are common in the financial industry, driven by factors like economies of scale, market expansion, and competitive pressures.

Stakeholder Impact

• Shareholders of Synovus Financial Corp. had their common stock converted into New Pinnacle Common Stock at a ratio of 0.5237 shares per Synovus share.
• Employees holding Synovus RSUs and PSUs, such as Elizabeth D. Wolverton, had their equity awards converted into New Pinnacle equity awards, impacting their future compensation structure and company affiliation.

Key Dates

Keywords

Synovus, SNV, Pinnacle Financial Partners, New Pinnacle, Merger, Form 4, Insider Transaction, Stock Conversion, Executive Compensation, Beneficial Ownership