STI 2018 Annual Report

Notes to Consolidated Financial Statements, continued 129 The following table presents information related to the Company’s preferred stock outstanding at December 31, 2018: Preferred 1 Stock Issue Date Number of Shares Authorized Number of Shares Issued Number of Shares Outstanding Dividend Dates Annual Per 2 Share Dividend Rate Optional Redemption Date Redemption Price Per Share Series A 9/12/2006 5,000 5,000 1,725 Quarterly beginning on December 15, 2006 Greater of 3-month LIBOR plus 0.53% per annum or 4.00% 9/15/2011 $100,000 Series B 12/15/2011 5,010 1,025 1,025 Quarterly beginning on March 15, 2012 Greater of 3-month LIBOR plus 0.645% per annum or 4.00% 12/15/2011 100,000 Series F 11/7/2014 5,000 5,000 5,000 Semi-annually beginning on June 15, 2015 until December 15, 2019 5.625% until December 15, 2019 12/15/2019 3 100,000 Quarterly beginning on March 15, 2020 3-month LIBOR plus 3.86% per annum beginning on March 15, 2020 Series G 5/2/2017 7,500 7,500 7,500 Semi-annually beginning on December 15, 2017 until June 15, 2022 5.05% until June 15, 2022 6/15/2022 3 100,000 Quarterly beginning on September 15, 2022 3-month LIBOR plus 3.102% per annum beginning on September 15, 2022 Series H 11/14/2017 5,000 5,000 5,000 Semi-annually beginning on June 15, 2018 until December 15, 2027 5.125% until December 15, 2027 12/15/2027 3 100,000 Quarterly beginning on March 15, 2028 3-month LIBOR plus 2.786% per annum beginning on March 15, 2028 1 All series of preferred stock have no par value, $100,000 liquidation preference per share, and no voting rights. 2 Dividends on the shares are noncumulative. 3 Redeemable at the option of the Company on or after the date stated or any time within 90 days following a regulatory capital event. In 2008, the Company issued to the U.S. Treasury as part of the CPP, 35,000 and 13,500 shares of Series C and D Fixed Rate Cumulative Perpetual Preferred Stock, respectively, and Series A and B warrants to purchase a total of 17.9 million shares of the Company's common stock. The Series A warrants entitled the holder to purchase 6 million shares of the Company's common stock at an exercise price of $33.70 per share, while the Series B warrants entitled the holder to purchase 11.9 million shares of the Company's common stock at an exercise price of $44.15 per share. In March 2011, the Company repurchased its Series C and D Preferred Stock from the U.S. Treasury, and in September 2011, the U.S. Treasury held a public auction to sell the Series Aand B common stock purchase warrants. In conjunction with the U.S. Treasury’s auction, the Company acquired 4 million of the common stock purchase warrants, Series A, for $11 million, which were then retired. In January and February of 2016, the Company acquired an additional 1.1 million of Series Acommon stock warrants and 5.4 million of Series B common stock warrants as part of its 2015 CCAR capital plan for a total of $24 million. During 2018, 3 million shares of common stock were issued upon exercise of Series A and B warrants. At December 31, 2018, a total of 7,445 Series A and B warrants to purchase the Company’s common stock were not exercised prior to their expiration dates of December 31, 2018 andNovember 14, 2018, respectively.