Form 4: Southern States Bancshares COO Exercises Stock Options and Disposes of Shares
SEC Form 4
James Walker Swift, COO of Southern States Bancshares, exercised stock options and disposed of shares on May 7, 2024, resulting in adjustments to his beneficial ownership.
Summary
- On May 7, 2024, James Walker Swift, the Chief Operating Officer of Southern States Bancshares, Inc. (SSBK), executed transactions involving the company's stock.
- Swift exercised stock options to acquire common stock at prices ranging from $10 to $20.61 per share.
- He acquired a total of 39,113 shares through option exercises.
- Swift also disposed of 28,366 shares at a price of $26.45.
- Following these transactions, Swift's directly held beneficial ownership of Southern States Bancshares common stock is 66,286 shares.
- He also holds options to purchase 797 shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Investors often monitor these filings for signals about management's confidence in the company's prospects.
Stakeholder Impact
- The transactions may be of interest to shareholders as they provide insight into the actions of a key executive.
Key Dates
| Date | Description |
|---|---|
| 01/20/2016 | Date options were granted that vest in one-fifth increments over five years, and became fully vested and exercisable on 1/20/2021 |
| 01/21/2018 | Date options were granted that vest in one-third increments over three years, and became fully vested and exercisable on 1/21/2021 |
| 02/08/2019 | Date options were granted that vest in one-third increments over three years, and became fully vested and exercisable on 2/08/2022 |
| 01/22/2020 | Date options were granted that vest in one-third increments over three years, and became fully vested and exercisable on 1/22/2023 |
| 02/10/2021 | Date options were granted that vest in one-third increments over three years, and became fully vested and exercisable on 2/10/2024 |
| 02/09/2022 | Date options were granted that vest in one-third increments over three years, and will be fully vested and exercisable on 2/9/2025 |
| 05/07/2024 | Date of the reported transactions: exercise of stock options and disposal of shares. |
| 05/08/2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.