Form 4: Synovus Financial Corp: Director Eli Samaha Reports Transactions in Fixed-Rate Reset Non-Cumulative Perpetual Preferred Series E

Director Eli Samaha reports multiple transactions involving Synovus Financial Corp's Fixed-Rate Reset Non-Cumulative Perpetual Preferred Series E, with sales occurring between June 5th and June 7th, 2024.

Summary

• Eli Samaha, a director of Synovus Financial Corp, reported sales of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Series E shares.
• On June 5, 2024, 6,803 shares were sold at a weighted average price of $25.216.
• On June 6, 2024, 325 shares were sold at a weighted average price of $25.2388.
• On June 7, 2024, 20 shares were sold at a price of $25.2.
• Following these transactions, Samaha indirectly owns 1,466,148 shares through funds managed by Madison Avenue Partners, LP.
• Samaha disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: This is a neutral report of transactions. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Management Comments

• The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
• The Reporting Person disclaims beneficial ownership of these securities, except to the extent of the pecuniary interest of the Reporting Person therein.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• It's difficult to compare this specific transaction to industry standards without knowing the typical trading patterns of Synovus insiders or those of comparable financial institutions.
• However, Form 4 filings are a standard practice across all publicly traded companies, ensuring compliance with SEC regulations.

Stakeholder Impact

• The transactions may have a minor impact on shareholders, potentially influencing the supply and demand of the preferred shares.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely negligible.

Key Dates