Form 4: Synovus Executive's Equity Converts Post-Merger

Synovus Financial Corp. EVP Thomas T. Dierdorff's equity holdings converted to New Pinnacle Common Stock following the merger effective January 1, 2026.

Summary

• The merger between Synovus Financial Corp. and Pinnacle Financial Partners, Inc. (now New Pinnacle) was completed on January 1, 2026, at 11:59 p.m. ET.
• Each share of Synovus Common Stock was converted into 0.5237 shares of New Pinnacle Common Stock.
• Thomas T. Dierdorff, EVP, Corporate & Investment Banking, disposed of 21,745 shares of Synovus Common Stock as a result of this conversion.
• Synovus Restricted Stock Unit (RSU) Awards were assumed by New Pinnacle, relating to a number of New Pinnacle Common Stock shares determined by the Synovus Exchange Ratio.
• Synovus Performance Stock Units (PSUs) were converted into the right to receive New Pinnacle Common Stock based on maximum performance, multiplied by the Synovus Exchange Ratio, less applicable tax withholdings.
• Specific Synovus PSUs converted include 8,159, 9,159, and 5,961 units.
• The reported amounts include shares acquired through dividend accruals and Synovus' Employee Stock Purchase Plan, totaling 791 shares for common stock, and 880, 580, and 178 shares for the respective PSU awards.

Sentiment

Score: 5

Explanation: The filing is a factual report of an executive's equity conversion following a merger, with no explicit positive or negative financial performance implications for the combined entity.

Positives

• Performance Stock Units (PSUs) were converted based on maximum performance, indicating the achievement of performance targets prior to the merger.

Future Outlook

NA

Industry Context

The merger between Synovus Financial Corp. and Pinnacle Financial Partners, Inc. represents a consolidation within the regional banking sector, a common trend driven by economies of scale, market expansion, and competitive pressures.

Stakeholder Impact

• Synovus shareholders had their common stock converted into New Pinnacle Common Stock at a 0.5237 exchange ratio.
• Employees holding Synovus RSUs and PSUs had their awards assumed or converted into New Pinnacle Common Stock awards.

Key Dates

Keywords

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