Synovus Financial Corp. Board of Directors Compensation Policy (Effective April 27, 2022)
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Summary
This document outlines the compensation policy for the Board of Directors of Synovus Financial Corp., effective April 27, 2022. It details annual cash retainers for board and committee service, additional compensation for committee chairs and the lead director, and an annual equity award in restricted stock units that vests after three years or upon reaching retirement age. Directors may also participate in a stock purchase plan with a company match of up to $3,000 per year. The policy specifies the amounts and conditions for each type of compensation.
EX-10.1 2 snv_03312022xfilingxex101.htm EX-10.1 Document
Exhibit 10.1
SYNOVUS FINANCIAL CORP.
Board of Directors Compensation
(Effective April 27, 2022)
Board of Directors Compensation
(Effective April 27, 2022)
| Cash Compensation | ||||||||
| Annual Board Retainer | $ | 70,000 | ||||||
| Annual Board Committee Member Retainers: | ||||||||
| Audit Committee | $ | 15,000 | ||||||
| Risk Committee | $ | 15,000 | ||||||
| Compensation and Human Capital Committee | $ | 12,500 | ||||||
| Corporate Governance and Nominating Committee | $ | 10,000 | ||||||
| Annual Committee Chair Retainers:** | ||||||||
| Audit Committee | $ | 20,000 | ||||||
| Risk Committee | $ | 20,000 | ||||||
| Compensation and Human Capital Committee | $ | 17,500 | ||||||
| Corporate Governance and Nominating Committee | $ | 15,000 | ||||||
| Annual Lead Director Retainer | $ | 40,000 | ||||||
| ** | Note: The committee chair will receive both an annual committee member retainer and an annual committee chair retainer. | |||||||
| Equity Compensation | ||||||||
An award of $105,000 in restricted stock units, which becomes fully vested and transferable upon the earlier to occur of the (x) completion of three years of service and (y) date the holder reaches retirement age pursuant to the Company’s Corporate Governance Guidelines. | ||||||||
| Director Stock Purchase Plan | ||||||||
| Annual maximum company cash contribution per director participant to company-sponsored open market stock purchase plan, with company’s contribution equal to 15% of director participant’s cash contribution, subject to annual maximum contribution limit by director of $20,000 | $ | 3,000 | ||||||
