Form 4: Southside Bancshares Officer Suni M Davis Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Suni M Davis, Chief Treasury Officer of Southside Bancshares, reported the disposal of common stock to cover tax obligations arising from vesting restricted stock.
Summary
- Suni M Davis, the Chief Treasury Officer of Southside Bancshares Inc. (SBSI), filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- The report indicates that Davis disposed of shares of common stock on February 1, 2025, February 2, 2025 and February 3, 2025 to satisfy tax obligations.
- The disposals were conducted at a price of $31.43 on February 1, 2025 and February 2, 2025 and $30.9 on February 3, 2025.
- Following these transactions, Davis directly owns 8,910 shares of common stock.
- Davis also indirectly owns 7,658 shares through a 401K and 2,030 shares through an ESOP.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing relates to routine stock disposals for tax purposes, which is a normal part of executive compensation.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company officers and directors. These filings are closely watched by investors seeking to understand management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations and do not indicate a change in the officer's long-term view of the company.
Key Dates
| Date | Description |
|---|---|
| 02/01/2025 | Date of first reported transaction: Disposal of common stock. |
| 02/02/2025 | Date of second reported transaction: Disposal of common stock. |
| 02/03/2025 | Date of third reported transaction: Disposal of common stock. |
| 02/04/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Stock Disposal, Southside Bancshares, SBSI, Suni M Davis, Chief Treasury Officer, Tax Obligations
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