Form 4: SouthState Bank CFO Receives Equity Awards

SouthState Bank's Chief Financial Officer, William E. Matthews V, was granted Performance Share Units and Restricted Share Units on January 20, 2026.

Summary

• William E. Matthews V, Chief Financial Officer of SouthState Bank Corp (SSB), was awarded equity on January 20, 2026.
• He received 6,071 Performance Share Units (PSUs) at target, with an associated price of $96.88 per unit.
• These PSUs will vest following a 3-year performance period ending December 31, 2028, and are exchangeable for common stock on a 1-for-1 basis after vesting.
• He also received 4,047 time-vested Restricted Share Units (RSUs), also at $96.88 per unit.
• The RSUs will vest in three equal installments: one-third on January 1, 2027, one-third on January 1, 2028, and the final one-third on January 1, 2029.
• RSUs are also exchangeable for common stock on a 1-for-1 basis after vesting.
• Following these transactions, Mr. Matthews beneficially owns 22,061 Performance Share Units and 7,587 Restricted Share Units directly.

Sentiment

Score: 7

Explanation: The filing reports routine equity awards to a key executive, which is generally positive for aligning management incentives with shareholder interests. No negative information is present.

Positives

• The equity awards align the Chief Financial Officer's long-term interests with those of SouthState Bank Corp's shareholders.
• Performance Share Units incentivize achieving specific company performance targets over a three-year period.
• Restricted Share Units provide retention incentives for key management personnel.

Future Outlook

The awards indicate a future commitment to the company's performance and continued service from the Chief Financial Officer, with vesting scheduled through December 2028 for PSUs and January 2029 for RSUs.

Industry Context

The granting of Performance Share Units and Restricted Share Units is a common practice in the financial services industry for executive compensation, designed to attract, retain, and motivate key personnel by linking their compensation to company performance and long-term shareholder value.

Comparison to Industry Standards

• The use of both performance-based (PSUs) and time-based (RSUs) equity awards is a standard compensation structure for senior executives in the banking sector, similar to practices at peers like Truist Financial Corporation or Regions Financial Corporation.
• The multi-year vesting schedules (3 years for PSUs, 3 years for RSUs) are typical for long-term incentive plans, promoting executive retention and alignment with long-term strategic goals.
• The 1-for-1 exchange rate to common stock upon vesting is also a standard feature of such equity awards.

Stakeholder Impact

• Shareholders: The equity awards align the CFO's financial interests with shareholder value creation, potentially leading to better long-term performance.
• Employees: May signal stability in executive leadership and a commitment to long-term incentive programs.

Next Steps

• Continued service of the Chief Financial Officer.
• Performance period for PSUs to conclude on December 31, 2028.
• Scheduled vesting of RSUs on January 1, 2027, January 1, 2028, and January 1, 2029.
• Potential conversion of vested units into SouthState Bank Corp common stock.

Key Dates

Keywords

SouthState Bank Corp, SSB, Form 4, Insider Transaction, Equity Award, Performance Share Units, Restricted Share Units, William E. Matthews V, CFO, Executive Compensation