On this page, you will find instructions on how to adjust the automatic transmission linkage on your 4th Gen F-body. This will accurately synchronize the shift lever and it's indicator with the correct gear on the transmission. It might take you about 10 minutes to actually make the adjustment as it is reasonably simple.
I recommend that you read through the entire procedure before attempting any work. Use any information provided on this page at your own risk. This procedure and pictures are from a 1995 Z28. Other 4th Gen F-bodies will be the same or similar.
The first thing to do is get the car up in the air so you can have room to work. Ramps work well or use jackstands. Don't work under a car that is supported by a jack, only. Be sure to engage the parking brake or block the wheels.
Next, you will need to remove the cable end off the transmission shift lever. It is a ball and socket arrangement that will pry off fairly easily with a screwdriver (exercise reasonable care). With the cable end free, manually move the transmission lever to the neutral position as shown. You will have to feel out and count the detents to be sure you are in the correct position. The lever has a tendency to spring out of the PARK position when you pull on it, making it a little difficult to tell what gear is next. I find it easier to pull the lever all the way back to 1, then count up >2>D>OD>N to get it to neutral. This should work even if you have a console gear indicator that does not have the selectable first gear.
Move the transmission gear selector in the console to the neutral position.
You could also start this procedure by putting the transmission in neutral with the console selector first. Just as long as you end up with the console selector and the lever on the transmission both in the neutral position.
Release the locking tab located at the cable mounting bracket. You can use a screwdriver to get the tab started up and assist it by pushing from the bottom. Move the tab up high enough so that the cable housing will slide in the adjuster.
Slide the cable end forward and snap it on the transmission lever, taking care that both the transmission and console levers stay in the neutral position.
Once the cable is back on the lever, push the locking tab back down. If the tab does not act like it wants to go back down, move the cable housing forward or rearward slightly to allow it to fit in the grooves. Check the selector operation inside the car before lowering the car back down. Re-adjust if needed.
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