Form 4: Synovus Executive's Holdings Shift Post-Merger

A Synovus Financial Corp. executive's beneficial ownership of common stock and derivative securities has changed following the completion of a merger with Pinnacle Financial Partners, Inc.

Summary

• D. Wayne Akins Jr., EVP, Chief Commercial Banking Officer of Synovus Financial Corp., reported changes in his beneficial ownership of securities.
• The changes occurred on January 1, 2026, at 11:59 p.m. ET, as a result of the merger between Synovus Financial Corp. and Pinnacle Financial Partners, Inc., forming New Pinnacle.
• Each share of Synovus Common Stock was converted into 0.5237 shares of New Pinnacle Common Stock.
• Akins disposed of 36,602 shares of Synovus Common Stock directly, which included 326 shares acquired through dividend accruals.
• An additional 3,481 shares of Synovus Common Stock were disposed of indirectly by his wife, including 107 shares from dividend accruals.
• Synovus Performance Stock Units (PSUs) were converted into rights to receive New Pinnacle Common Stock, based on maximum performance and the exchange ratio, less tax withholdings.
• Akins disposed of 10,098 Synovus PSUs (including 1,086 dividend accruals), 11,341 Synovus PSUs (including 720 dividend accruals), and 7,382 Synovus PSUs (including 222 dividend accruals).
• Synovus Restricted Stock Units (RSUs) were assumed by New Pinnacle, relating to a number of New Pinnacle Common Stock shares determined by the Synovus Exchange Ratio.
• Akins disposed of 2,002 Synovus RSUs and 4,774 Synovus RSUs.

Sentiment

Score: 5

Explanation: The filing is a factual report of a completed corporate transaction and changes in insider beneficial ownership, without expressing positive or negative sentiment regarding performance or outlook.

Future Outlook

This filing does not contain forward-looking statements or guidance, as it reports a completed transaction.

Industry Context

This announcement reflects the completion of a significant merger within the regional banking sector, leading to the formation of New Pinnacle. Such consolidation events are common in the financial industry, driven by factors like economies of scale, market expansion, and competitive pressures.

Related Party Transactions

• Indirect beneficial ownership by the reporting person's wife, whose holdings were also converted as part of the merger.

Stakeholder Impact

• Synovus shareholders now hold shares in New Pinnacle, reflecting the completion of the merger.
• The reporting executive's equity compensation and direct stock holdings have been converted into New Pinnacle securities.

Key Dates

Keywords

Synovus Financial Corp, SNV, Pinnacle Financial Partners, Merger, Form 4, Beneficial Ownership, Executive Compensation, Stock Units, Common Stock