Form 4: Synovus Financial Corp: EVP and General Counsel Allan E. Kamensky Reports Stock Transactions
SEC Form 4
Allan E. Kamensky, EVP and General Counsel of Synovus Financial Corp, reports multiple transactions involving common stock and restricted/performance stock units.
Summary
- On February 15, 2025, Allan E. Kamensky exercised restricted stock units converting them into 2,088 shares of common stock and simultaneously disposed of 2,088 shares at $54.47.
- On February 16, 2025, Kamensky exercised restricted stock units converting them into 1,541 shares of common stock and simultaneously disposed of 1,541 shares at $54.47.
- On February 18, 2025, 546 shares were withheld to cover tax obligations related to vesting restricted stock units.
- On February 19, 2025, Kamensky exercised performance stock units converting them into 4,864 shares of common stock at $55.22.
- On February 19, 2025, Kamensky acquired 2,981 shares of common stock at $55.22.
- On February 19, 2025, 3,510 shares were withheld to cover tax obligations related to vesting performance stock units.
- Following these transactions, Kamensky directly owns 71,880 shares of Synovus Financial Corp common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document primarily reports routine stock transactions by an executive. There is no indication of positive or negative implications for the company's performance.
Positives
- The reporting person's continued holding of a significant number of shares (71,880) indicates confidence in the company's future.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for executives at publicly traded companies like Synovus, similar to filings made by executives at peer institutions such as Truist Financial or Regions Financial.
- The vesting schedules and performance-based components of the stock units are also typical compensation structures seen across the financial services industry.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 02/22/2022 | Reporting person reported the grant of performance stock units (PSUs). |
| 02/15/2025 | Restricted stock units exercised and shares disposed of. |
| 02/16/2025 | Restricted stock units exercised and shares disposed of. |
| 02/17/2025 | Date related to performance stock units. |
| 02/18/2025 | Shares withheld for tax obligations. |
| 02/19/2025 | Performance stock units exercised, shares acquired, and shares withheld for tax obligations. |
| 02/20/2025 | Date of signature on the report. |
| 02/15/2027 | Expiration date of restricted stock units. |
| 02/16/2026 | Expiration date of restricted stock units. |
Keywords
Synovus Financial Corp, Allan E. Kamensky, Stock Transactions, Form 4, Restricted Stock Units, Performance Stock Units, Beneficial Ownership, Insider Trading
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