Form 4: Southern States Bancshares Director Acquires Shares Through Restricted Stock Grant

Director Daniel Andrew Cummings acquired 905 shares of Southern States Bancshares through a restricted stock grant and indirectly owns shares via a family trust.

Summary

• On February 19, 2025, Daniel Andrew Cummings, a director of Southern States Bancshares, Inc. (SSBK), acquired 905 shares of common stock through a restricted stock grant.
• The shares were acquired at a price of $0.
• Following the transaction, Cummings directly owns 1,599 shares.
• Cummings also indirectly owns 5,154 shares through the DAC Family Trust, which includes 146 shares acquired through the company's Dividend Reinvestment and Common Stock Purchase Plan.
• The reporting person's spouse is the trustee of the trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing indicating a director's acquisition of shares, which can be interpreted as a positive signal, but it's not overwhelmingly positive.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future prospects.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in the financial industry. Investors often monitor these filings to gauge the sentiment of company insiders regarding the company's prospects.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders as it signals confidence from a company director.

Key Dates

Keywords

Southern States Bancshares, SSBK, Daniel Andrew Cummings, Director, Form 4, Beneficial Ownership, Restricted Stock, Dividend Reinvestment Plan, DAC Family Trust