Form 4: Southside Bancshares Inc. Officer Reports Changes in Beneficial Ownership

Suni M. Davis, Chief Risk Officer of Southside Bancshares Inc., reports acquisition of common stock through dividend equivalent rights and reinvestment programs.

Summary

• On June 6, 2024, Suni M. Davis, the Chief Risk Officer of Southside Bancshares Inc., filed a Form 4 indicating changes in beneficial ownership of the company's common stock.
• Davis acquired 54 shares of common stock through dividend equivalent rights related to previously held Restricted Stock Units (RSUs).
• These dividend equivalent rights are subject to the same terms and conditions as the underlying RSUs.
• Davis directly owns 9,209 shares of common stock, which includes shares acquired through the company's Dividend Reinvestment Program.
• Davis also indirectly owns 7,131 shares through a 401K and 1,988 shares through an ESOP.
• The shares in the 401K include shares acquired through monthly payroll contributions.
• The ESOP holdings include shares received from the company's annual contribution, forfeiture allocation, and quarterly dividend reinvestment.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing reflects routine transactions related to compensation and dividend reinvestment, indicating stability and confidence in the company.

Positives

• The acquisition of shares through dividend equivalent rights and reinvestment programs indicates confidence in the company's performance.

Industry Context

This filing is a routine disclosure required by the SEC for officers and directors of publicly traded companies, providing transparency into their stock ownership and transactions.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the stock ownership of company insiders.

Key Dates