Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value of Option Grants Used in Measuring Compensation Expense

The fair value of stock option grants used in measuring compensation expense was determined using the Black-Scholes option pricing model with the following weighted-average assumptions.



	2013		2012		2011
Risk-free interest rate	1.11	%	1.23	%	NA
Expected stock price volatility	50.0		65.0		NA
Dividend yield	1.6		2.0		NA
Expected life of options	6.0 years		6.0 years		NA

Schedule of Stock Options Activity

A summary of stock option activity and changes during the years ended December 31, 2013, 2012, and 2011 is presented below.



Stock Options
	2013				2012				2011
	Shares		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price		Shares		Weighted-Average Exercise Price
Outstanding at beginning of year	19,289,705		$	8.40	17,886,318		$	10.63	21,723,381		$	10.81
Options granted	6,003,250		2.52		4,586,666		2.05		—		—
Options exercised	(455,767	)	2.47		—		—		—		—
Options forfeited	(364,075	)	2.35		(174,842	)	2.38		(471,386	)	10.72
Options expired	(1,932,345	)	8.98		(3,008,437	)	12.36		(3,365,677	)	11.75
Options outstanding at end of year	22,540,768		$	7.00	19,289,705		$	8.40	17,886,318		$	10.63
Options exercisable at end of year	13,994,362		$	9.82	13,296,595		$	10.94	14,365,773		$	12.06

Schedule of Nonvested Share Activity

December 31, 2013 with a grant date fair value of $3.49. The number of market restricted share units that will ultimately vest ranges from 75% to 125% of target based on Synovus' total shareholder return. At December 31, 2013, total unrecognized compensation cost related to market restricted share units was approximately $990 thousand with a weighted average remaining period of 1.50 years.

Schedule of Restricted Stock Units Activity

A summary of restricted share units outstanding and changes during the years ended December 31, 2013, 2012, and 2011 is presented below (excluding market restricted share units described above).



Restricted Share Units	Share Units		Weighted-Average Grant-date Fair Value
Outstanding at January 1, 2011	880,401		$	3.05
Granted	3,815,942		2.65
Dividend equivalents granted	86,494		1.64
Vested	(25,534	)	6.15
Forfeited	(229,328	)	2.91
Outstanding at December 31, 2011	4,527,975		2.67
Granted	3,330,293		2.07
Dividend equivalents granted	112,616		2.19
Vested	(1,314,063	)	2.70
Forfeited	(213,842	)	2.49
Outstanding at December 31, 2012	6,442,979		2.35
Granted	1,488,620		2.80
Dividend equivalents granted	74,820		3.00
Vested	(3,816,081	)	2.56
Forfeited	(118,599	)	2.07
Outstanding at December 31, 2013	4,071,739		$	2.34

Schedule of Grants Under All Synovus Equity Compensation Plans

The following table provides aggregate information regarding grants under all Synovus equity compensation plans through December 31, 2013.



Plan Category⁽¹⁾	(a) Number of securities to be issued upon vesting of restricted share units	(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	4,071,739	22,437,168	$	6.96	57,126,291	⁽²⁾
Non-shareholder approved equity compensation plans	—	—	—		—
Total	4,071,739	22,437,168	$	6.96	57,126,291

⁽¹⁾ Does not include information for equity compensation plans assumed by Synovus in mergers. A total of 103,600 shares of Common Stock were issuable upon exercise of options granted under plans assumed in mergers and outstanding at December 31, 2013. The weighted average exercise price of all options granted under plans assumed in mergers and outstanding at December 31, 2013 was $8.53. Synovus cannot grant additional awards under these assumed plans.

⁽²⁾ Includes 57,126,291 shares available for future grants as share awards under the 2013 Omnibus Plan.