<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-12-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000095953</issuerCik>
        <issuerName>SYNALLOY CORP</issuerName>
        <issuerTradingSymbol>SYNL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001527731</rptOwnerCik>
            <rptOwnerName>Guy Henry L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>89 SUMMIT AVENUE, SECOND FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SUMMIT</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07901</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

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                <value>Common Stock</value>
            </securityTitle>
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            </transactionDate>
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                <transactionCode>M</transactionCode>
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                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
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                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
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            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Modern Holdings Incorporated</value>
                </natureOfOwnership>
            </ownershipNature>
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            <ownershipNature>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>UTMA for Child - H. V. Guy</value>
                </natureOfOwnership>
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                </natureOfOwnership>
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            <ownershipNature>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>UTMA for Child E. K. Guy</value>
                </natureOfOwnership>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
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                <value>Common Stock</value>
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                    <footnoteId id="F1"/>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
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                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>UTMA for Child - G. E. Guy</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-12-16</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
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                    <footnoteId id="F1"/>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.75</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>157863</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Investment Advisor</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Subscription Rights (Right to Buy)</value>
            </securityTitle>
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                <value>12.75</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-12-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
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                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2021-11-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2021-12-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
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            </transactionDate>
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                <transactionCode>M</transactionCode>
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            </transactionCoding>
            <transactionAmounts>
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                </transactionShares>
                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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            </exerciseDate>
            <expirationDate>
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            </expirationDate>
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                    <value>Common Stock</value>
                </underlyingSecurityTitle>
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                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
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                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Modern Holdings Incorporated</value>
                </natureOfOwnership>
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        </derivativeTransaction>
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            <transactionDate>
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            <transactionCoding>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                    <footnoteId id="F1"/>
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            <ownershipNature>
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                    <value>UTMA for Child - H.V. Guy</value>
                </natureOfOwnership>
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            </transactionDate>
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            <expirationDate>
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                <underlyingSecurityTitle>
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                    <footnoteId id="F1"/>
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            <ownershipNature>
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                    <value>UTMA for Child - H.L. Guy</value>
                </natureOfOwnership>
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        <derivativeTransaction>
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                <value>Subscription Rights (Right to Buy)</value>
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                <value>2021-11-30</value>
            </exerciseDate>
            <expirationDate>
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                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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            </underlyingSecurity>
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                    <value>I</value>
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                    <value>UTMA for Child - E.K. Guy</value>
                </natureOfOwnership>
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            </transactionDate>
            <transactionCoding>
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                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>11</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2021-11-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2021-12-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
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                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
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                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>UTMA for Child - G.E. Guy</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Subscription Rights (Right to Buy)</value>
            </securityTitle>
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                <value>12.75</value>
            </conversionOrExercisePrice>
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                <value>2021-12-16</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>10118</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <value>2021-11-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2021-12-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10118.0</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>0</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Investment Advisor</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On November 30, 2021, the issuer commenced a rights offering pursuant to which the issuer distributed non transferable subscription rights (the &quot;Subscription Rights&quot;) to holders of record of it common stock as of 5:00 p.m. New York Time, on November 29, 2021. Each eligible recordholder received on Subscription Right for each share of common stock held of record by such holder as of the record date. Each Subscription Right entitled its holder, subject to certain limitations and conditions, to purchase 0.083768 shares of common stock at a subscription price of $12.75 per whole share. Holders of Subscription Rights that exercised in full such basic subscription rights were entitled, subject to certain limitations and conditions, to oversubscribe for additional shares of common stock that remained unsubscribed for the rights offering. The rights offering expired on December 16, 2021 and the Company announced the results of the offering on December 17, 2021.</footnote>
        <footnote id="F2">Shares directly acquired by the reporting person as a result of their exercise of subscription rights and oversubscription privilege in connection with the issuer's rights offering.</footnote>
        <footnote id="F3">The Reporting Person is an advisor of Pittco Direct Investment I. Pittco Direct Investment I is the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership, within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise of such portion of the Pittco Direct Investment I shares in which the Reporting Person has no pecuniary interest.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Pauline A Sumner, Power of Attorney for Henry L. Guy</signatureName>
        <signatureDate>2021-12-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
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X0306
4
2021-12-16
0
0000095953
SYNALLOY CORP
SYNL
0001527731
Guy Henry L
89 SUMMIT AVENUE, SECOND FLOOR
SUMMIT
NJ
07901
1
0
0
0
Common Stock
2021-12-16
4
M
0
5837
12.75
A
59935.072
D
Common Stock
2021-12-16
4
M
0
889
12.75
A
7889
I
By Modern Holdings Incorporated
Common Stock
2021-12-16
4
A
0
18
12.75
A
154.904
I
UTMA for Child - H. V. Guy
Common Stock
2021-12-16
4
M
0
18
12.75
A
154.904
I
UTMA for child - H. L. Guy
Common Stock
2021-12-16
4
A
0
11
12.75
A
147.904
I
UTMA for Child E. K. Guy
Common Stock
2021-12-16
4
M
0
11
12.75
A
147.904
I
UTMA for Child - G. E. Guy
Common Stock
2021-12-16
4
M
0
10118
12.75
A
157863
I
Investment Advisor
Subscription Rights (Right to Buy)
12.75
2021-12-16
4
M
0
5837
0
D
2021-11-30
2021-12-16
Common Stock
5837.0
0
D
Subscription Rights (Right to Buy)
12.75
2021-12-16
4
M
0
889
0
D
2021-11-30
2021-12-16
Common Stock
889.0
0
I
By Modern Holdings Incorporated
Common Stock
12.75
2021-12-16
4
M
0
18
0
D
2021-11-30
2021-12-16
Common Stock
18.0
0
I
UTMA for Child - H.V. Guy
Subscription Rights (Right to Buy)
12.75
2021-12-16
4
M
0
18
0
D
2021-11-30
2021-12-16
Common Stock
18.0
0
I
UTMA for Child - H.L. Guy
Subscription Rights (Right to Buy)
12.75
2021-12-16
4
M
0
11
0
D
2021-11-30
2021-12-16
Common Stock
11.0
0
I
UTMA for Child - E.K. Guy
Subscription Rights (Right to Buy)
12.75
2021-12-16
4
M
0
11
0
D
2021-11-30
2021-12-16
Common Stock
11.0
0
I
UTMA for Child - G.E. Guy
Subscription Rights (Right to Buy)
12.75
2021-12-16
4
M
0
10118
0
D
2021-11-30
2021-12-16
Common Stock
10118.0
0
I
Investment Advisor
On November 30, 2021, the issuer commenced a rights offering pursuant to which the issuer distributed non transferable subscription rights (the "Subscription Rights") to holders of record of it common stock as of 5:00 p.m. New York Time, on November 29, 2021. Each eligible recordholder received on Subscription Right for each share of common stock held of record by such holder as of the record date. Each Subscription Right entitled its holder, subject to certain limitations and conditions, to purchase 0.083768 shares of common stock at a subscription price of $12.75 per whole share. Holders of Subscription Rights that exercised in full such basic subscription rights were entitled, subject to certain limitations and conditions, to oversubscribe for additional shares of common stock that remained unsubscribed for the rights offering. The rights offering expired on December 16, 2021 and the Company announced the results of the offering on December 17, 2021.
Shares directly acquired by the reporting person as a result of their exercise of subscription rights and oversubscription privilege in connection with the issuer's rights offering.
The Reporting Person is an advisor of Pittco Direct Investment I. Pittco Direct Investment I is the direct beneficial owner of the securities. The Reporting Person disclaims beneficial ownership, within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise of such portion of the Pittco Direct Investment I shares in which the Reporting Person has no pecuniary interest.
Pauline A Sumner, Power of Attorney for Henry L. Guy
2021-12-27