Form 4: SouthState Bank CRO DeSimone Increases Stake

SouthState Bank's CRO and General Counsel, Beth S. DeSimone, reported a net acquisition of 922 common shares through RSU vesting and tax-related dispositions.

Summary

• Beth S. DeSimone, CRO and General Counsel of SouthState Bank Corp (SSB), reported multiple transactions on January 1, 2026.
• Acquired a total of 1,609 common shares through the vesting of Restricted Stock Units (RSUs) from three separate awards.
• Specifically, 518 shares vested from an RSU award dated January 24, 2023; 541 shares vested from an RSU award dated January 23, 2024; and 550 shares vested from an RSU award dated January 21, 2025.
• Disposed of 687 common shares at a price of $94.11 per share to cover tax liabilities associated with the RSU vesting.
• Following these transactions, DeSimone's direct beneficial ownership of SouthState Bank common stock stands at 24,981 shares.
• The net effect of these reported transactions is an increase of 922 shares in beneficial ownership.

Sentiment

Score: 7

Explanation: This is a routine executive compensation event resulting in a net increase in the officer's beneficial ownership, indicating continued alignment with shareholder interests. It is generally viewed as a neutral to slightly positive event.

Positives

• A net increase of 922 common shares in beneficial ownership for a key executive, which aligns management interests with shareholders.
• The vesting of Restricted Stock Units (RSUs) represents a scheduled component of executive compensation, indicating continued retention and reward for performance.

Negatives

• Disposition of 687 shares to cover tax obligations, while a common practice, reduces the total number of shares held directly by the executive.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction, as it is solely an insider transaction report.

Industry Context

The reported transactions reflect standard executive compensation practices within the financial services industry, where Restricted Stock Units (RSUs) are a common component of long-term incentive plans designed to align executive interests with shareholder value creation. The disposition of shares for tax withholding is also a routine occurrence upon RSU vesting.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of executive compensation is a widely adopted practice across the financial sector, comparable to compensation structures at institutions like JPMorgan Chase, Bank of America, and Wells Fargo.
• The vesting schedule (one-third annually over three years) is a common structure for RSU awards, promoting executive retention and long-term performance alignment.
• The disposition of shares to cover tax liabilities upon vesting is a standard and expected procedure, consistent with practices observed at most publicly traded companies when equity awards vest.

Stakeholder Impact

• Shareholders may view the net increase in executive ownership positively, as it suggests continued alignment of management's financial interests with the company's stock performance.
• Employees are not directly impacted by this specific insider transaction, though executive compensation practices can influence overall company culture and morale.

Next Steps

• Future vesting of remaining RSU tranches is scheduled for January 1, 2027, and January 1, 2028, from the awards dated January 23, 2024, and January 21, 2025, respectively.

Key Dates

Recommendation

This Form 4 reports routine executive compensation activities, specifically the vesting of restricted stock units and subsequent tax-related dispositions. While it shows a net increase in the officer's beneficial ownership, it does not provide new fundamental information to alter an investment thesis. Therefore, a 'hold' recommendation is appropriate as the filing does not present new catalysts for a 'buy' or 'sell' decision.

Keywords

SouthState Bank, SSB, Form 4, Insider Trading, Restricted Stock Units, RSU, Executive Compensation, Beth S DeSimone, CRO, General Counsel, Stock Ownership