Form 4: Southern States Bancshares Chief Risk Officer Sells Shares

Gregory B. Smith, Chief Risk Officer of Southern States Bancshares, Inc., sold 1,780 shares of common stock at $26 per share on March 11, 2024.

Summary

• On March 11, 2024, Gregory B. Smith, the Chief Risk Officer of Southern States Bancshares, Inc. (SSBK), sold 1,780 shares of the company's common stock.
• The sale price was $26 per share.
• Following the transaction, Smith directly owns 56,088 shares of Southern States Bancshares, Inc.
• This total includes 13,318 vested restricted units, 6,658 unvested restricted units (which will fully vest by December 31, 2024), and 3,267 unvested restricted shares (which will incrementally vest annually by 2/21/2027).

Sentiment

Score: 5

Explanation: Neutral. This is a standard disclosure of an insider stock sale. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

This is a routine disclosure of an insider transaction. It's common for company executives to buy and sell shares of their own company, and these transactions are regulated and disclosed to the public.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, but it's a relatively small transaction and may not have a significant impact.

Key Dates