Form 4: Southside Bancshares Director Hilliard J. Shands Reports Share Transactions

Director Hilliard J. Shands of Southside Bancshares reported a gift of 2,800 common shares and a correction of a previous transaction.

Summary

• Hilliard J. Shands, a director at Southside Bancshares, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates a gift of 2,800 common shares was made on November 8, 2024.
• The filing also includes a correction of 2,277 shares that were incorrectly classified as an internal transfer on November 29, 2022, and should have been classified as a gift.
• Following these transactions, Shands directly owns 55,804 common shares.
• Shands also has indirect ownership through a spousal trust (201,952 shares), an IRA (6,502 shares), a spouse's IRA (5,721 shares), and an ESOP (294 shares).

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not contain any information that would indicate positive or negative sentiment.

Industry Context

This is a routine filing related to changes in beneficial ownership by a company director, which is a common occurrence in publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders in the US, and this filing is consistent with those requirements.
• The transactions reported are not unusual for a director, and the correction of a previous error is also a normal part of the reporting process.
• Comparable companies would have similar filings when directors or officers make transactions in their company's stock.

Stakeholder Impact

• The transactions reported in this filing have a minimal impact on stakeholders as they are related to a director's personal holdings.

Key Dates

Keywords

Form 4, Beneficial Ownership, Southside Bancshares, Director, Share Transactions, Hilliard J. Shands, Common Stock, Gift, Spousal Trust, IRA, ESOP