SSBK.Southern States Bancshares, INC

Form 4: Southern States Bancshares Chief Risk Officer Reports Gift of Shares

Sentiment:

SEC Form 4 Filing

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Gregory B. Smith, Chief Risk Officer of Southern States Bancshares, reported a gift of 345 common stock shares.

Summary

  • On September 18, 2024, Gregory B. Smith, the Chief Risk Officer of Southern States Bancshares, Inc. [SSBK], reported a transaction.
  • The transaction involved a gift of 345 shares of common stock, par value $5.00 per share.
  • Following the transaction, Smith directly owns 65,743 shares of Southern States Bancshares, Inc.
  • This total includes 13,318 vested restricted units, 6,658 unvested restricted units that will fully vest by December 31, 2024, and 3,267 unvested restricted shares that will incrementally vest annually by February 21, 2027.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, and the transaction itself doesn't indicate a particularly positive or negative sentiment. It's a neutral disclosure of information.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency to the market regarding their transactions in the company's stock.

Stakeholder Impact

  • The transaction has a minimal direct impact on stakeholders, as it involves a small number of shares being gifted by an executive.

Key Dates

DateDescription
09/18/2024Date of the gift transaction of common stock.
12/31/2024Date by which 6,658 unvested restricted units will fully vest.
2/21/2027Date by which 3,267 unvested restricted shares will incrementally vest annually.
10/17/2024Date of signature on the Form 4 filing.

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