Form 4: SouthState Corp CFO William E. Matthews, V, Executes Stock Transactions
SEC Form 4
William E. Matthews, V, Chief Financial Officer of SouthState Corp, reports the vesting of Performance Share Units and subsequent stock transactions.
Summary
- On February 26, 2025, William E. Matthews, V, the Chief Financial Officer of SouthState Corp, reported transactions involving the company's common stock.
- Mr. Matthews acquired 8,677 shares of common stock upon the vesting of Performance Share Units (PSUs) awarded on January 19, 2022, which vested after a 3-year performance period ending December 31, 2024.
- Simultaneously, 4,109 shares were withheld to cover tax liabilities related to the vesting of these PSUs at a price of $102.49 per share.
- Following these transactions, Mr. Matthews directly owns 38,675 shares of SouthState Corp common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine disclosure of stock transactions related to executive compensation. The vesting of PSUs suggests the company met certain performance targets, which is mildly positive.
Positives
- The vesting of PSUs indicates that performance goals were likely met over the three-year performance period.
Industry Context
Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the actions of company executives and their confidence in the company's performance.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are part of standard executive compensation practices.
- Shareholders may view the vesting of PSUs as a positive sign, indicating that the company achieved its performance goals.
Key Dates
| Date | Description |
|---|---|
| 01/19/2022 | Date Performance Share Units (PSUs) were awarded. |
| 12/31/2024 | End of the 3-year performance period for the PSUs. |
| 02/26/2025 | Date of stock transactions (vesting of PSUs and withholding of shares for taxes). |
| 02/27/2025 | Date of signature on the Form 4. |
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