Form 4: Southside Bancshares Inc. Director Lee R. Gibson Reports Stock Disposal

Lee R. Gibson, Director and CEO of Southside Bancshares Inc., reports the disposal of 300 shares of common stock to cover tax obligations.

Summary

• On June 29, 2024, Lee R. Gibson, Director and CEO of Southside Bancshares Inc. (SBSI), disposed of 300 shares of common stock.
• The transaction was executed at a price of $27.61 per share.
• This disposal was related to covering tax obligations.
• Following the transaction, Gibson directly owns 56,355 shares of common stock.
• Gibson also indirectly owns 7,997 shares through a 401k SSB Trust and 29,051 shares through an ESOP.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a routine transaction (disposal of shares for tax obligations) by a company insider. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders (officers, directors, or those holding more than 10% of the company's shares) buy or sell the company's securities. These filings provide transparency to the market regarding insider transactions.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on stakeholders as it is a relatively small disposal of shares by an insider.

Key Dates