Form 4: SouthState Bank CEO's Equity Compensation Transactions

SouthState Bank Corp CEO John Corbett reported the vesting of performance share units and subsequent tax-related share withholding.

Summary

• John C. Corbett, CEO and Director of SouthState Bank Corp (SSB), reported transactions involving the company's common stock.
• On February 20, 2026, 32,454 shares of common stock were acquired at a price of $0.00 per share, resulting from the vesting of Performance Share Units (PSUs).
• These PSUs were awarded on January 24, 2023, and vested after a three-year performance period ending December 31, 2025.
• Following this acquisition, Mr. Corbett's direct beneficial ownership was 147,129 shares.
• Concurrently, on February 20, 2026, 16,227 shares of common stock were disposed of at a price of $105.44 per share.
• This disposition was for the purpose of withholding shares to cover tax liabilities associated with the vested securities, in accordance with Rule 16(b)-3.
• After both transactions, Mr. Corbett's direct beneficial ownership stands at 130,902 shares of common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing routine equity compensation vesting and associated tax withholding for an executive. It does not indicate a significant positive or negative shift in company fundamentals or outlook.

Positives

• The vesting of 32,454 Performance Share Units indicates that performance targets set over the three-year period ending December 31, 2025, were met, reflecting positively on company performance during that time.

Negatives

• A disposition of 16,227 shares occurred to cover tax liabilities, which reduces the CEO's direct beneficial ownership in the company.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures of insider transactions, providing transparency into executive stock ownership changes rather than broader industry trends. These transactions are typical for executive compensation structures involving performance-based equity awards.

Stakeholder Impact

• Shareholders gain transparency into executive compensation and ownership changes, which is a standard aspect of corporate governance.

Key Dates

Recommendation

The reported transactions are routine for executive equity compensation, involving the vesting of performance share units and subsequent share withholding for tax purposes. These actions do not reflect a change in the company's fundamental outlook or the executive's confidence, thus a 'hold' recommendation is appropriate as it does not provide new information to alter an investment thesis.

Keywords

SouthState Bank Corp, SSB, Form 4, Insider Transaction, John C Corbett, CEO, Equity Compensation, Performance Share Units, Stock Vesting, Tax Withholding