Share-based Compensation and Other Employment Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

A summary of stock option activity and changes during the years ended December 31, 2018, 2017, and 2016 is presented below.



Stock Options
	2018				2017				2016
	Shares		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
Outstanding at beginning of year	775,730		$	17.85	973,361		$	17.76	1,741,975		$	37.88
Options exercised	(126,344	)	16.92		(197,631	)	17.41		(297,225	)	17.35
Options forfeited	—		—		—		—		(1,597	)	17.64
Options expired/canceled	(9,485	)	92.26		—		—		(469,792	)	92.62
Options outstanding at end of year	639,901		$	16.93	775,730		$	17.85	973,361		$	17.76
Options exercisable at end of year	639,901		$	16.93	775,730		$	17.85	973,361		$	17.76

Fair Value of Option Grants Used in Measuring Compensation Expense

The fair value of market restricted share units granted was estimated on the date of grant using a Monte Carlo simulation model with the following weighted average assumptions:



	2018		2017		2016
Risk-free interest rate	2.32	%	1.48	%	0.81	%
Expected stock price volatility	22.5		22.9		25.7
Dividend yield	1.3		1.2		1.8
Simulation period	3.0 years		3.0 years		3.0 years

Schedule of Restricted Stock Units Activity

A summary of market restricted share units outstanding and changes during the years ended December 31, 2018, 2017, and 2016 is presented below.



Market Restricted Share Units
	Share Units		Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2015	158,248		$	27.02
Granted	93,913		26.93
Dividend equivalents granted	3,095		26.93
Quantity change by TSR factor	9,970		26.93
Vested	(82,817	)	26.40
Outstanding at December 31, 2016	182,409		27.25
Granted	78,174		43.52
Dividend equivalents granted	2,811		43.52
Quantity change by TSR factor	22,182		27.25
Vested	(114,013	)	26.78
Outstanding at December 31, 2017	171,563		35.24
Granted	57,851		48.46
Dividend equivalents granted	3,204		41.91
Quantity change by TSR factor	17,882		33.21
Vested	(105,459	)	33.21
Forfeited	(952	)	38.32
Outstanding at December 31, 2018	144,089		$	41.91

A summary of performance share units outstanding and changes during the years ended December 31, 2018, 2017, and 2016 is presented below.



Performance Share Units
	Share Units		Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2015	151,567		$	26.01
Granted	83,529		25.95
Dividend equivalents granted	3,384		25.95
Outstanding at December 31, 2016	238,480		25.99
Granted	72,825		41.61
Dividend equivalents granted	2,562		41.61
Vested	(69,326	)	23.47
Outstanding at December 31, 2017	244,541		31.54
Granted	86,774		47.23
Dividend equivalents granted	4,418		28.06
Vested	(84,326	)	28.06
Adjustment for performance vs. target	(1,250	)	28.06
Forfeited	(1,900	)	33.52
Outstanding at December 31, 2018	248,257		$	38.29

A summary of restricted share units outstanding and changes during the years ended December 31, 2018, 2017, and 2016 is presented below (excluding market restricted and performance share units).



Restricted Share Units
	Share Units		Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2015	762,767		$	24.57
Granted	350,458		26.43
Dividend equivalents granted	11,105		26.43
Vested	(406,496	)	23.10
Forfeited	(12,067	)	23.96
Outstanding at December 31, 2016	705,767		26.38
Granted	242,804		41.82
Dividend equivalents granted	5,839		41.82
Vested	(341,825	)	26.25
Forfeited	(46,637	)	26.28
Outstanding at December 31, 2017	565,948		33.25
Granted	248,697		47.34
Dividend equivalents granted	7,259		44.10
Vested	(280,459	)	30.86
Forfeited	(15,652	)	38.60
Outstanding at December 31, 2018	525,793		$	41.18

Schedule of Grants Under All Synovus Equity Compensation Plans

The following table provides aggregate information regarding grants under all Synovus equity compensation plans at December 31, 2018.



Plan Category	(a) Number of Securities to be Issued Upon Vesting of Restricted Share Units, Market Restricted Share Units, and Performance Share Units⁽¹⁾	(b) Number of Securities to be Issued Upon Exercise of Outstanding Options	(c) Weighted-Average Exercise Price of Outstanding Options in Column (b)		(d) Number of Shares Remaining Available for Issuance Excluding Shares Reflected in Columns (a) and (b)
Shareholder approved equity compensation plans for shares of Synovus stock	918,139	639,901	$	16.93	4,849,161


⁽¹⁾	Market restricted and performance share units included at defined target levels. Actual shares issued upon vesting may differ based on actual TSR and ROAA and ROATCE over the measurement period.