Form 4: SouthState Corp Director G. Stacy Smith Acquires Restricted Share Units

Director G. Stacy Smith acquired 267 restricted share units (RSUs) of SouthState Corp as part of annual director fees.

Summary

• On January 22, 2025, G. Stacy Smith, a director of SouthState Corp, acquired 267 restricted share units (RSUs) at a price of $99.47 per unit.
• These RSUs are part of the stock component of the annual director fees and will cliff vest in 6 months, on July 22, 2025.
• The transaction was reported on January 23, 2025, by William E. Matthews, V, CFO, pursuant to power of attorney.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a standard compensation practice, indicating confidence in the company's future.

Positives

• The acquisition of RSUs by a director demonstrates alignment with the company's long-term success.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

This type of equity compensation for board members is a common practice in the financial services industry to align their interests with those of shareholders.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• Companies like Bank of America and JPMorgan Chase also grant stock options and restricted stock units to their directors as part of their compensation.
• The vesting schedules for these equity grants typically range from immediate vesting to vesting over several years.

Stakeholder Impact

• The granting of RSUs to directors aligns their interests with those of shareholders, potentially leading to better corporate governance and decision-making.

Key Dates

Keywords

SouthState Corp, Director, G. Stacy Smith, Restricted Share Units, RSU, Director Fees, Stock Component, Beneficial Ownership, Form 4