Form 4: Southern First Bancshares Director Anne S. Ellefson Receives Restricted Stock Grant

Southern First Bancshares Inc. Director Anne S. Ellefson was granted 485 shares of restricted common stock, increasing her beneficial ownership to 7,197 shares.

Summary

• Anne S. Ellefson, a Director of Southern First Bancshares Inc. (SFST), acquired 485 shares of common stock.
• The transaction occurred on June 1, 2025, and represents a grant of restricted stock units.
• The restricted stock units were granted at a price of $0 per share.
• These restricted stock units are set to vest equally over a period of four years.
• Following this transaction, Ms. Ellefson's direct beneficial ownership of Southern First Bancshares common stock increased to 7,197 shares.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive as it represents a routine compensation event that aligns director interests with shareholders, without indicating any negative operational or financial news.

Positives

• The grant of restricted stock units to a director aligns their interests with those of shareholders, as the value of their compensation is tied to the company's stock performance.
• An increase in director ownership can signal confidence in the company's future prospects.

Future Outlook

The granted restricted stock units will vest equally over a four-year period, indicating a future schedule for the full realization of these shares by the director.

Management Comments

• "Anne S. Ellefson /s/Julie A. Fairchild, POA" (Signature of Reporting Person via Power of Attorney)

Industry Context

The granting of restricted stock units to directors is a common practice in the financial services industry, including the banking sector, as a form of long-term incentive compensation designed to align the interests of directors with those of shareholders.

Related Party Transactions

• The grant of restricted stock units to a director constitutes a related party transaction, as it involves compensation provided by the company to a member of its board.

Stakeholder Impact

• Shareholders: The grant of restricted stock units to a director can be viewed positively by shareholders as it ties the director's compensation to the company's stock performance, potentially encouraging decisions that enhance shareholder value.

Next Steps

• The restricted stock units will vest equally over the next four years, leading to the full ownership of the granted shares by the director.

Key Dates

Keywords

Southern First Bancshares, SFST, Form 4, Restricted Stock Units, RSU, Director Compensation, Insider Transaction, Stock Grant, Beneficial Ownership