Form 4: SouthState Corp Director Acquires Shares in Lieu of Cash Retainer

Page G. Ruffner Jr., a director of SouthState Corp, acquired 244 shares of common stock in lieu of a quarterly cash retainer payment on February 13, 2025.

Summary

• On February 13, 2025, Page G. Ruffner Jr., a director of SouthState Corp, acquired 244 shares of common stock.
• The acquisition was made in lieu of a quarterly cash retainer payment.
• The price per share was $102.66.
• Following the transaction, Ruffner directly owns 79,182 shares of SouthState Corp common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment. The transaction is a routine part of director compensation and doesn't indicate any significant positive or negative development for the company.

Positives

• The director's increased stake in the company could be seen as a positive signal.

Industry Context

Directors receiving stock in lieu of cash compensation is a fairly common practice, particularly in the banking sector, as it aligns their interests with those of shareholders.

Comparison to Industry Standards

• Comparing SouthState Corp to regional bank peers like Truist Financial or Regions Financial, director compensation packages often include a mix of cash and equity.
• The specific amount of equity granted varies based on company size, performance, and individual director roles.

Related Party Transactions

• The acquisition of shares by the director in lieu of a cash retainer payment constitutes a related party transaction.

Stakeholder Impact

• The transaction has a minimal impact on shareholders, employees, customers, suppliers, and creditors.

Key Dates