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SNV > SEC Filings for SNV > Form 8-K on 13-Dec-2013All Recent SEC Filings

Show all filings for SYNOVUS FINANCIAL CORP

Form 8-K for SYNOVUS FINANCIAL CORP


13-Dec-2013

Change in Directors or Principal Officers, Financial Statements and Exhibi


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 11, 2013, the Compensation Committee of the Board of Directors (the "Compensation Committee") of Synovus Financial Corp. ("Synovus") granted market restricted stock unit awards ("MRSUs") to Synovus' executive officers, including its named executive officers, effective December 11, 2013. The MRSUs have a service-based vesting component as well as a Total Shareholder Return Multiplier. Under the service-based vesting component, the MRSUs vest 1/3 each year over a three-year period subject to each executive's continued employment with Synovus. Under the Total Shareholder Return Multiplier, the "target" amount of MRSUs which vest each year can be adjusted upward or downward 25% based upon Synovus' total shareholder return during each year. The form of Market Restricted Stock Unit Agreement under the Synovus 2013 Omnibus Plan, which was approved by Synovus shareholders on April 25, 2013, is attached as Exhibit 10.1 on this Current Report on Form 8-K.

The table below sets forth the number of MRSUs awarded to Synovus named executive officers by the Compensation Committee:

                                                Number of MRSUs
              Executive/Title                Granted (# of shares)

              Kessel D. Stelling                    104,478
              Chairman, President and
              Chief Executive Officer

              Thomas J. Prescott                    29,851
              Executive Vice President and
              Chief Financial Officer

              Allen J. Gula, Jr.                    29,851
              Executive Vice President and
              Chief Operations Officer

              Mark G. Holladay                      29,851
              Executive Vice President and
              Chief Risk Officer




Item 9.01 Financial Statements and Exhibits

            (d)              Exhibits

            Exhibit No.      Description

            10.1             Form of Market Restricted Stock Unit Agreement under the Synovus 2013 Omnibus Plan


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