Form 4: SouthState Bank CEO's Equity Transactions
Insider Transaction Report
SouthState Bank CEO John C. Corbett reported the vesting of restricted stock units and subsequent share withholding for tax obligations on January 1, 2026.
Summary
- John C. Corbett, CEO and Director of SouthState Bank Corp (SSB), reported transactions on January 1, 2026.
- Acquired a total of 13,851 shares of common stock through the vesting of time-vested Restricted Stock Units (RSUs) from awards granted on January 24, 2023 (4,808 shares), January 23, 2024 (5,011 shares), and January 21, 2025 (4,032 shares).
- Disposed of 6,926 shares of common stock at a price of $94.11 per share to satisfy tax liabilities related to the RSU vesting.
- Following these reported transactions, John C. Corbett's direct beneficial ownership of SouthState Bank Corp common stock is 114,675 shares.
Sentiment
Score: 6
Explanation: The filing reports routine executive compensation events (RSU vesting) and associated tax-related share dispositions, which are standard and generally neutral in sentiment, reflecting ongoing compensation practices.
Positives
- The vesting of Restricted Stock Units (RSUs) indicates the fulfillment of executive compensation plans, aligning management's interests with shareholder value over time.
- The acquisition of 13,851 shares through RSU vesting increases the CEO's direct equity stake before tax-related dispositions, demonstrating continued ownership.
Negatives
- The disposition of 6,926 shares, while routine for tax purposes, reduces the CEO's direct beneficial ownership of common stock.
Future Outlook
N/A. This filing reports past transactions, not future outlook or guidance.
Industry Context
N/A. This filing details an individual's stock transactions and does not provide broader industry context.
Stakeholder Impact
- Shareholders: Provides transparency into executive compensation and changes in direct ownership by a key executive.
- Employees, Customers, Suppliers, Creditors: No direct impact from this routine filing.
Next Steps
- Future vesting of RSUs awarded on January 23, 2024 (on January 1, 2027) and January 21, 2025 (on January 1, 2027 and January 1, 2028).
Key Dates
| Date | Description |
|---|---|
| 01/24/2023 | Award date for RSUs, vesting one-third on January 1st of 2024, 2025, and 2026. |
| 01/23/2024 | Award date for RSUs, vesting one-third on January 1st of 2025, 2026, and 2027. |
| 01/21/2025 | Award date for RSUs, vesting one-third on January 1st of 2026, 2027, and 2028. |
| 01/01/2026 | Transaction date for RSU vesting and share disposition for tax liability. |
| 01/02/2026 | Signature date of the reporting person (via power of attorney). |
Recommendation
holdThis Form 4 details routine compensation-related stock transactions by the CEO, including the vesting of restricted stock units and the subsequent sale of shares to cover tax liabilities. These are standard events for executive compensation and do not provide new information that would alter the fundamental investment thesis for SouthState Bank Corp. Therefore, a 'hold' recommendation is appropriate as this filing does not present a catalyst for a change in valuation or outlook.
Keywords
SouthState Bank, SSB, Form 4, Insider Transaction, CEO, Equity, RSU, Restricted Stock Units, Beneficial Ownership, Stock Compensation
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