Stacy Apter
SYNOVUS FINANCIALAbout Stacy Apter
Stacy Apter (age 58) is an independent director of Synovus Financial Corp. and serves as Senior Vice President and Treasurer, Head of Corporate Finance at The Coca-Cola Company, where she leads corporate finance (internal audit, tax, treasury, investor relations, finance integration/capabilities) and chairs Coca‑Cola’s risk steering committee. She joined the Synovus board in 2023; she holds a B.A. in mathematics and economics from Sweet Briar College and began her career as a pension actuary and consultant at PwC.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Coca‑Cola Company | Senior Vice President & Treasurer, Head of Corporate Finance | 2020–present | Leads corporate finance (internal audit, tax, treasury, IR, finance integration); responsible for liquidity, capital structure, financial/insurable risks; chairs risk steering committee |
| The Coca‑Cola Company | Chief of Staff to Chairman & CEO (prior role) | Pre‑2020 | Assisted reorganization and cultural transformation |
| The Coca‑Cola Company | Assistant Treasurer and other treasury/global benefits roles | 2005–2020 | Led capital management, currency hedging, risk/insurance, benefits/investments |
| PricewaterhouseCoopers | Pension actuary and consultant | 12 years (pre‑2005) | Actuarial and consulting expertise |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Coca‑Cola Bottlers Japan Holdings (Tokyo Stock Exchange) | Director | Not disclosed | Audit committee and supervisory committee member |
| Westside Future Fund | Director | Not disclosed | Community development/non‑profit governance |
Board Governance
- Independence: The Board affirmatively determined Ms. Apter is independent under NYSE and Synovus standards as of January 1, 2025.
- Committee assignments: Audit Committee; Corporate Governance & Nominating Committee (CGN). She is not a chair.
- Audit Committee stature: In 2024, the Audit Committee held 12 meetings (plus 2 joint with Risk); all six members are “audit committee financial experts” per SEC rules.
- Attendance and engagement: In 2024, all directors attended at least 75% of Board/committee meetings; average attendance 96%. All directors attended the 2024 annual meeting.
- Executive sessions: Independent and non‑management directors meet after each regular Board meeting; presided by the Lead Director.
- Anti‑hedging/pledging: Policies prohibit hedging, pledging, and short sales by directors/executives.
Fixed Compensation
| Component | Amount/Terms | 2024 Apter Amount |
|---|---|---|
| Annual cash retainer (director) | $75,000 cash | — |
| Committee member retainers | Audit: +$15,000; Risk: +$15,000; CHCC: +$12,500; CGN: +$10,000; Chairs receive additional chair retainers; Lead Director +$40,000 | — |
| Fees earned (total cash) | Paid for service Apr 24, 2024–Apr 24, 2025 | $100,000 (reflects role and committee service) |
| Director Stock Purchase Plan (company contributions) | Company contributes 15% match on director’s contributions (up to $5,000 per quarter); fully vested; shares releasable on request | $3,000 company contribution |
| Cash deferral election | Directors may defer cash fees; credited to investment options; payable in cash | Elected to defer all or a portion of 2024 cash compensation |
Performance Compensation
| Instrument | Grant/Terms | 2024 Apter Detail |
|---|---|---|
| RSUs (director equity) | Granted under 2021 Omnibus Plan; 2,988 RSUs with grant‑date fair value $110,000 per director on Apr 23, 2024; vest upon earlier of 3 years of service after grant or reaching mandatory retirement; designed to foster long‑term alignment | $110,000 (2,988 RSUs) |
| Equity deferral election | Directors may defer all equity; paid in Synovus shares at distribution | Elected to defer 2024 equity compensation |
| Options/Performance equity | No stock options for directors in 2024; director equity is time‑based RSUs (no performance‑metric linkage) | No options/PSUs |
Other Directorships & Interlocks
| Type | Company/Committee | Notes |
|---|---|---|
| Public company board | Coca‑Cola Bottlers Japan Holdings – Audit & Supervisory Committees | Additional financial oversight experience |
| Non‑profit | Westside Future Fund – Director | Community engagement |
| Compensation interlocks | None: In 2024, no Synovus executive served on a board/compensation committee with a Synovus CHCC member (CHCC interlocks and insider participation) | None |
Expertise & Qualifications
- Corporate finance leader with direct responsibility for liquidity, capital structure, risk and insurable risk management, and asset portfolios at a large multinational; chairs Coca‑Cola’s risk steering committee, bringing risk oversight experience.
- Deep treasury and actuarial background (capital management, hedging, benefits/investments; former pension actuary at PwC).
- Audit Committee financial expertise (committee designated all six members as “audit committee financial experts”).
- Education: B.A., Mathematics & Economics, Sweet Briar College.
Equity Ownership
| Holder | Beneficial Shares | RSUs (unvested/other units) | Total (incl. RSUs) | % Outstanding |
|---|---|---|---|---|
| Stacy Apter | 1,182 | 6,874 | 8,056 | <1% |
- Stock ownership guidelines (directors): 5x annual retainer within 5 years; at least 1x within 3 years; all directors were in compliance as of Dec 31, 2024.
- Hedging/pledging: Prohibited for directors/executives.
- Shares pledged: None indicated in beneficial ownership table; anti‑pledging policy in place.
Governance Assessment
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Strengths
- Independent director serving on Audit and CGN; Audit Committee designated all members as “financial experts,” enhancing oversight of reporting, internal controls, and auditor independence.
- Demonstrated risk, treasury, and capital markets expertise from Coca‑Cola; chairs risk steering committee—valuable for Synovus’ risk governance and capital planning.
- High boardwide engagement culture (96% average attendance; all directors ≥75% and attended annual meeting).
- Pay/ownership alignment: Mix of cash retainer plus time‑based RSUs; elected to defer cash and equity; participates in Director Stock Purchase Plan; subject to 5x retainer ownership guideline with compliance confirmed across directors.
- No compensation interlocks; robust anti‑hedging/anti‑pledging/clawback policies at Synovus.
-
Potential red flags/monitoring points
- External executive role (Coca‑Cola) creates ordinary‑course banking/service relationships that the Board reviewed and deemed immaterial; continue to monitor for related‑party exposure changes.
- Absolute share ownership (1,182 beneficial shares) is modest, though supported by RSUs, deferrals, stock purchase plan participation, and guideline compliance.
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Overall implication
- Ms. Apter’s finance/risk credentials and Audit/CGN roles support board effectiveness and investor confidence; independence affirmed and no material related‑party issues identified by the Board.