Form 4: Southside Bancshares CEO Lee R. Gibson Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Lee R. Gibson, CEO of Southside Bancshares, reports disposing of common stock to cover tax obligations related to equity awards.
Summary
- On February 1st, 2nd and 3rd, 2025, Lee R. Gibson, the CEO of Southside Bancshares Inc., disposed of shares of common stock to cover tax obligations.
- The disposals were executed at prices of $31.43 and $30.9 per share.
- Specifically, 711 shares were disposed of on February 1st, 373 shares on February 2nd, and 295 shares on February 3rd.
- Following these transactions, Gibson directly owns 51,306 shares of common stock.
- Gibson also indirectly owns 29,660 shares through an ESOP and 8,165 shares through a 401k SSB Trust.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing relates to routine stock disposals for tax purposes, which doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Stakeholder Impact
- The disposal of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the context of tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/01/2025 | Transaction date: Disposal of 711 shares of common stock at $31.43. |
| 02/02/2025 | Transaction date: Disposal of 373 shares of common stock at $31.43. |
| 02/03/2025 | Transaction date: Disposal of 295 shares of common stock at $30.9. |
| 02/04/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Southside Bancshares, SBSI, Lee R. Gibson, CEO, Stock Disposal, Beneficial Ownership, Tax Obligations
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