Form 4: Southside Bancshares Director Dacus Shannon Reports Acquisition of Common Stock
SEC Form 4 Filing
Director Dacus Shannon acquired 16 shares of Southside Bancshares common stock due to dividend equivalent rights.
Summary
- On September 5, 2024, Dacus Shannon, a director of Southside Bancshares Inc. (SBSI), acquired 16 shares of common stock.
- The acquisition was a result of dividend equivalent rights received on previously held Restricted Stock Units (RSUs).
- The price per share was $0.
- Following the transaction, Dacus Shannon directly owns 7,032 shares of Southside Bancshares Inc.
Sentiment
Score: 5
Explanation: The Form 4 filing itself is a neutral event. It simply reports a transaction. The acquisition of shares through dividend rights is a normal part of RSU compensation.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, such as directors and officers. This allows investors to gain insights into management's perspective on the company's stock.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it involves a small number of shares acquired through dividend equivalent rights.
Key Dates
| Date | Description |
|---|---|
| 09/05/2024 | Date of transaction: Acquisition of 16 shares of common stock. |
| 09/09/2024 | Date of signature on the Form 4 filing. |
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