Form 4: SouthState Corp CEO John C. Corbett Reports Stock Transactions
SEC Form 4 Filing
CEO John C. Corbett reports acquisition of 36,092 shares of common stock and disposal of 18,046 shares for tax liabilities.
Summary
- On February 26, 2025, John C. Corbett, CEO of SouthState Corp, reported transactions involving the company's common stock.
- He acquired 36,092 shares of common stock related to vested Performance Share Units (PSUs) awarded on January 19, 2022, which vested after a 3-year performance period ending December 31, 2024.
- Concurrently, he disposed of 18,046 shares to cover tax liabilities at a price of $102.49 per share.
- Following these transactions, Corbett directly owns 117,750 shares of SouthState Corp common stock.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing detailing stock transactions by the CEO. It doesn't inherently convey positive or negative sentiment, but the vesting of PSUs suggests the achievement of performance targets.
Positives
- The vesting of PSUs indicates that performance goals were met over the three-year performance period.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It allows investors to monitor the actions of key executives and their confidence in the company's prospects.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/19/2022 | Date Performance Share Units (PSUs) were awarded. |
| 12/31/2024 | End date of the 3-year performance period for the PSUs. |
| 02/26/2025 | Date of the stock transactions (acquisition and disposal). |
| 02/27/2025 | Date of signature by William E. Matthews, V, CFO, pursuant to power of attorney. |
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