Form 4: SouthState Corp CFO William Matthews Reports Stock Transactions
SEC Form 4
William Matthews, CFO of SouthState Corp, reports the acquisition and disposal of common stock related to performance share units and tax liability.
Summary
- William Matthews, the Chief Financial Officer of SouthState Corp, filed a Form 4 detailing changes in beneficial ownership.
- On February 29, 2024, Matthews acquired 10,080 shares of common stock upon the vesting of Performance Share Units (PSUs) awarded on January 26, 2021, which vested after a 3-year performance period ending December 31, 2023.
- Also on February 29, 2024, 4,471 shares were withheld to cover tax liabilities related to the vesting of these securities at a price of $84.04.
- Following these transactions, Matthews directly owns 41,964 shares of SouthState Corp common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations. There is no indication of unusual or concerning activity.
Positives
- The vesting of Performance Share Units indicates that performance goals were likely met, which is a positive signal.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. They are closely watched by investors for signals about management's confidence in the company's prospects.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation.
Key Dates
| Date | Description |
|---|---|
| 01/26/2021 | Date Performance Share Units (PSUs) were awarded. |
| 12/31/2023 | End of the 3-year performance period for the PSUs. |
| 02/29/2024 | Date of stock acquisition and disposal due to PSU vesting and tax withholding. |
| 03/04/2024 | Date of signature on the Form 4. |
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