Form 4: SouthState Corp Director Jean E. Davis Acquires Restricted Share Units

Director Jean E. Davis acquired 1,063 restricted share units (RSUs) of SouthState Corp on May 1, 2024, as part of annual director fees.

Summary

• On May 1, 2024, Jean E. Davis, a director of SouthState Corp, acquired 1,063 restricted share units (RSUs) at a price of $77.28 per unit.
• These RSUs represent the stock component of the annual director fees and will vest on November 1, 2024, six months from the grant date.
• Following the transaction, Ms. Davis directly owns 1,063 derivative securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to director compensation, which is a normal part of corporate governance. The acquisition of shares by a director can be seen as a positive sign of confidence in the company.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.

Industry Context

This is a standard practice for compensating board members in publicly traded companies. Granting stock or restricted stock units aligns the interests of the directors with those of the shareholders.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity.
• The specific amount and vesting schedule of RSUs can vary widely based on company size, performance, and industry benchmarks.
• Comparing SouthState Corp's director compensation to peers like Truist Financial, Regions Financial, and Fifth Third Bancorp would provide a better understanding of whether this grant is in line with industry standards.

Stakeholder Impact

• The acquisition of RSUs by a director aligns their interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term performance.

Key Dates