Form 4: SouthState Corp Director Douglas J. Hertz Acquires Shares in Lieu of Cash Retainer
SEC Form 4
Douglas J. Hertz, a director of SouthState Corp, acquired 543 shares of common stock on May 7, 2024, in lieu of a quarterly cash retainer payment.
Summary
- On May 7, 2024, Douglas J. Hertz, a director of SouthState Corp, acquired 543 shares of common stock.
- The shares were acquired in lieu of a quarterly cash retainer payment.
- The price per share was $80.65.
- Following the transaction, Hertz directly owns 12,888 shares of SouthState Corp.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine transaction with no clear positive or negative implications.
Positives
- A director's decision to take shares in lieu of cash may signal confidence in the company's future performance.
Industry Context
Directors receiving stock in lieu of cash compensation is a fairly common practice in the banking industry, aligning director interests with shareholder value.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.
Key Dates
| Date | Description |
|---|---|
| 05/07/2024 | Date of transaction: Douglas J. Hertz acquired 543 shares of SouthState Corp common stock. |
| 05/08/2024 | Date of signature on the Form 4 filing. |
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