Form 4: SouthState Corp CFO William E. Matthews V Reports Stock Transactions
SEC Form 4 Filing
William E. Matthews V, CFO of SouthState Corp, reports acquisition of shares through RSU vesting and disposition of shares to cover tax obligations on January 1, 2025.
Summary
- On January 1, 2025, William E. Matthews V, the Chief Financial Officer of SouthState Corp, acquired shares of common stock through the vesting of Restricted Share Units (RSUs).
- A total of 4,577 shares were issued from RSUs that vested on January 1, 2023, but were subject to a hold period ending on January 1, 2025.
- An additional 552 shares vested from RSUs awarded on January 19, 2022, vesting in three equal installments from January 1, 2023, to January 1, 2025.
- Another 1,156 shares vested from RSUs awarded on January 24, 2023, vesting in three equal installments from January 1, 2024, to January 1, 2026.
- Also, 1,253 shares vested from RSUs awarded on January 23, 2024, vesting in three equal installments from January 1, 2025, to January 1, 2027.
- To cover tax liabilities associated with these vested shares, 3,664 shares were disposed of at a price of $99.48 per share.
- Following these transactions, Matthews directly owns 40,638 shares of SouthState Corp common stock.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by a company executive, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor the actions of key personnel.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine compensation-related activities.
Key Dates
| Date | Description |
|---|---|
| 06/07/2020 | CenterState Bank Corporation merger completed. |
| 01/19/2022 | RSU were awarded, vesting at a rate of one third on each January 1st, 2023, 2024 and 2025. |
| 01/24/2023 | RSU were awarded, vesting at a rate of one third on each January 1st, 2024, 2025 and 2026. |
| 01/23/2024 | RSU were awarded, vesting at a rate of one third on each January 1st, 2025, 2026 and 2027. |
| 01/01/2025 | Date of earliest transaction; vesting of RSUs and disposition of shares for tax liabilities. |
| 01/03/2025 | Date of signature for the Form 4 filing. |
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