Form 4: SouthState Bank CAO Exercises PSUs, Sells Shares for Tax

SouthState Bank's Chief Administrative Officer, Jennifer Idell, acquired common stock through vested performance share units and subsequently sold a portion to cover tax liabilities.

Summary

• Jennifer Idell, Chief Administrative Officer of SouthState Bank Corp (SSB), reported transactions involving the company's common stock.
• On February 20, 2026, Idell acquired 2,472 shares of common stock at a price of $0.00 per share.
• This acquisition resulted from the vesting of Performance Share Units (PSUs) that were awarded on January 24, 2023, following a three-year performance period ending December 31, 2025.
• Following the acquisition, Idell's direct beneficial ownership increased to 19,714 shares.
• Concurrently, on February 20, 2026, Idell disposed of 665 shares of common stock at a price of $105.44 per share.
• This disposition was for the purpose of withholding shares to pay tax liability applicable to the securities issued, in accordance with Rule 16(b)-3.
• After both transactions, Idell's direct beneficial ownership stands at 19,049 shares of common stock.
• The transactions were made pursuant to a Rule 10b5-1 plan.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as slightly positive. While there's a sale of shares, it's for tax purposes, and the underlying event (PSU vesting) indicates successful achievement of performance metrics, which is a positive signal for the company's operational execution.

Positives

• The vesting of 2,472 Performance Share Units indicates that performance targets set over the three-year period ending December 31, 2025, were met, reflecting positively on company performance and management incentives.
• The acquisition of shares at a $0.00 price signifies the successful conversion of equity awards, aligning management's interests with shareholders.

Negatives

• The disposition of 665 shares, while for tax purposes, represents a reduction in the Chief Administrative Officer's direct equity holdings.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that these transactions are routine insider compensation events, common across the banking sector and other industries where performance-based equity awards are a standard component of executive compensation. They do not provide broad insights into industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: Minimal direct impact, as these are routine compensation-related transactions. The vesting of PSUs could be seen as a positive signal regarding management's performance against set targets.
• Employees: May indicate the company's commitment to performance-based compensation structures for key personnel.

Key Dates

Keywords

SouthState Bank, SSB, Jennifer Idell, Chief Administrative Officer, Form 4, Insider Transaction, Performance Share Units, PSUs, Stock Vesting, Equity Compensation, Rule 10b5-1, Tax Withholding