Form 4: Southside Bancshares CFO Julie Shamburger Reports Stock Transactions

Julie Shamburger, CFO of Southside Bancshares, reports acquisition and disposal of company stock, including settlement of performance-based restricted stock units.

Summary

• On March 18, 2025, Julie Shamburger, CFO of Southside Bancshares, reported transactions involving the company's common stock.
• She acquired 2,234 shares of common stock at $0, representing the settlement of performance-based restricted stock units (PSUs) granted on February 3, 2022.
• These PSUs were earned based on the achievement of goals related to Return on Average Tangible Common Equity (ROATCE) and her continued employment.
• She also disposed of 534 shares to cover tax obligations at a price of $29.22 per share.
• Following these transactions, Shamburger directly owns 28,606 shares of Southside Bancshares common stock.
• She also has indirect ownership through a 401k SSB Trust (4,672 shares), a Spouse IRA (3,250 shares), an IRA (3,624 shares), and an ESOP (4,220 shares).

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The vesting of PSUs suggests the company met its performance targets. The sale of shares for tax obligations is a normal occurrence.

Positives

• The settlement of performance-based restricted stock units suggests that the company met its ROATCE goals, which is a positive indicator.
• Continued employment of the CFO is also a positive sign.

Negatives

• The disposal of 534 shares to cover tax obligations, while normal, slightly reduces the CFO's direct stake in the company.

Risks

• No specific risks are mentioned in this document.

Industry Context

Form 4 filings are routine disclosures required by the SEC when company insiders, like the CFO, trade their company's stock. These filings provide transparency to investors about the actions of those with inside knowledge of the company.

Comparison to Industry Standards

• Comparing Southside Bancshares' ROATCE performance to its peers would provide a better understanding of whether the performance-based restricted stock units were earned due to exceptional performance or industry-average results.
• Analyzing insider trading activity relative to other regional banks can offer insights into management's confidence in the company's future prospects.
• Companies like Texas Capital Bancshares and Prosperity Bancshares are regional banks that could be used for comparison.

Stakeholder Impact

• The stock transactions have a minor impact on shareholders by slightly diluting ownership.
• The vesting of PSUs rewards the CFO for achieving performance goals, aligning her interests with those of shareholders.

Key Dates

Keywords

Southside Bancshares, SBSI, Julie Shamburger, CFO, Form 4, Stock Transaction, Performance-Based Restricted Stock Units, ROATCE, Beneficial Ownership