Form 4: Southern States Bancshares Chief Risk Officer Exercises Stock Options, Increases Stake

Gregory B. Smith, Chief Risk Officer of Southern States Bancshares, Inc. (SSBK), exercised stock options on June 20, 2025, acquiring 25,826 shares and increasing his total beneficial ownership to 97,818 shares.

Summary

• Gregory B. Smith, the Chief Risk Officer of Southern States Bancshares, Inc. (SSBK), executed multiple stock option exercises on June 20, 2025.
• A total of 25,826 shares of Common Stock, par value $5.00 per share, were acquired through these exercises.
• The shares were acquired at various exercise prices: 9,529 shares at $16.00, 10,828 shares at $20.10, 3,188 shares at $20.61, 1,414 shares at $30.23, and 867 shares at $26.42.
• Following these transactions, Mr. Smith's direct beneficial ownership of Southern States Bancshares common stock increased to 97,818 shares.
• This total beneficial ownership includes 3,022 unvested restricted shares that are scheduled to vest incrementally annually by February 19, 2028.
• The exercised options had various grant and vesting dates, with some fully vested prior to exercise and others partially vested with remaining unexercised options.

Sentiment

Score: 7

Explanation: The Chief Risk Officer's exercise of stock options and increase in beneficial ownership suggests confidence in the company's future prospects, which is generally viewed positively by the market.

Positives

• The Chief Risk Officer's decision to exercise a significant number of stock options and increase his direct ownership stake may signal confidence in the company's future performance and valuation.
• The acquisition of 25,826 shares by a key executive demonstrates alignment of interests between management and shareholders.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future financial performance or strategic outlook.

Industry Context

This Form 4 filing represents a routine insider transaction, common across all industries, where an executive exercises stock options as part of their compensation plan. It does not provide specific insights into broader industry trends or competitive dynamics within the banking sector.

Stakeholder Impact

• Shareholders may interpret the increase in insider ownership as a positive signal, indicating management's belief in the company's value and future growth.
• Employees holding similar stock options may see this as an example of how their equity compensation can be realized.

Next Steps

• The remaining 706 stock options granted on 2/15/2023 and 1,735 stock options granted on 2/21/2024 are subject to future vesting increments over three years.

Key Dates

Keywords

Southern States Bancshares, SSBK, Form 4, Insider Transaction, Stock Options, Beneficial Ownership, Gregory B. Smith, Chief Risk Officer, Equity, Banking, Financial Services