Form 4: Southside Bancshares Inc. Executive Suni M. Davis Reports Changes in Beneficial Ownership

Suni M. Davis, Chief Risk Officer of Southside Bancshares Inc., reports transactions involving common stock, including acquisitions through dividend equivalent rights, dividend reinvestment programs, payroll contributions, and ESOP contributions.

Summary

• On February 29, 2024, Suni M. Davis, Chief Risk Officer of Southside Bancshares Inc., reported changes in beneficial ownership of the company's common stock.
• Davis acquired 35 shares of common stock through dividend equivalent rights at a price of $0.
• Davis directly owns 9,155 shares of common stock, which includes shares acquired under the company's Dividend Reinvestment Program.
• Davis indirectly owns 6,819 shares through a 401K and 1,961 shares through an ESOP.
• The ESOP holdings include shares received in connection with the company's annual ESOP contribution, forfeiture allocation, and quarterly dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, reflecting neutral sentiment. It simply reports transactions without expressing any positive or negative outlook.

Positives

• The reporting person is actively participating in the company's Dividend Reinvestment Program, indicating confidence in the company's future.
• The reporting person is also participating in the company's ESOP, indicating confidence in the company's future.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, as required by the SEC. It provides transparency to investors regarding the transactions of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The information provided is consistent with SEC regulations and reporting requirements.
• Similar filings can be observed across the financial industry for executives at comparable institutions like Texas Capital Bancshares and Comerica.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• It can influence investor sentiment depending on the nature and volume of the reported transactions.

Key Dates