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

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Compensation, Allocation of Recognized Period Costs

Total share-based compensation expense recognized for 2021, 2020, and 2019 is presented in the following table by its classification within total non-interest expense.

			Years Ended December 31,
(in thousands)			2021						2020						2019
Salaries and other personnel expense			$	26,957					$	17,827					$	19,618
Merger-related expense			—						—						4,219
Other operating expense			838						814						650
Total share-based compensation expense included in non-interest expense			$	27,795					$	18,641					$	24,487

Schedule of Measuring Compensation Expense

The estimated fair value of the converted stock options was determined using a Hull-White model in a binomial lattice option pricing framework with the following weighted average assumptions:

			2019
Stock price (Synovus' closing stock price on December 31, 2018)			$	31.99
Weighted average fair value of converted stock options			11.50
Risk-free interest rate			2.51		%
Expected stock price volatility			26.4		%
Dividend yield			3.13		%
Term to expiration			5.1 years

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:

						2021						2020						2019
Risk-free interest rate						2.87		%				1.42		%				2.40		%
Expected stock price volatility						56.1						25.4						24.4
Simulation period						2.9 years						3.0 years						3.0 years

Schedule of Stock Options Activity

A summary of stock option activity and changes during the years ended December 31, 2021, 2020, and 2019 is presented below.

Stock Options
			2021												2020												2019
(in thousands, except per share data)			Quantity						Weighted-Average Exercise Price						Quantity						Weighted-Average Exercise Price						Quantity						Weighted-Average Exercise Price
Outstanding at beginning of year			2,401						$	22.47					3,037						$	22.74					640						$	16.93
Assumed in acquisition			—						—						—						—						3,230						23.22
Options exercised			(923)						22.07						(572)						22.67						(820)						19.91
Options forfeited/expired/canceled			—						—						(64)						33.50						(13)						34.23
Options outstanding at end of year			1,478						$	22.71					2,401						$	22.47					3,037						$	22.74
Options exercisable at end of year			1,478						$	22.71					2,401						$	22.47					2,399						$	19.52

Schedule of Restricted Stock Units Activity

A summary of restricted share units and market/performance share units outstanding and changes during the years ended December 31, 2021, 2020, and 2019 is presented below.

						Restricted Share Units												Market/Performance Share Units
(in thousands, except per share data)						Quantity						Weighted-Average Grant Date Fair Value						Quantity						Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2018						526						$	41.18					392						$	39.62
Granted						573						36.27						305						37.22
Assumed in acquisition						136						31.99						—						—
Vested						(304)						37.04						(152)						30.87
Forfeited						(114)						37.04						(50)						39.45
Outstanding at December 31, 2019						817						38.32						495						40.85
Granted						822						32.42						204						37.74
Vested						(384)						38.04						(214)						41.31
Forfeited						(34)						35.97						(46)						39.03
Outstanding at December 31, 2020						1,221						34.50						439						39.37
Granted						599						42.31						141						42.94
Vested						(482)						37.05						(58)						42.43
Forfeited						(93)						31.41						—						—
Outstanding at December 31, 2021						1,245						$	37.00					522						$	37.59

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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