Form 4: SouthState Corp Director Page G Ruffner Jr. Reports Stock Award Vesting

Director Page G Ruffner Jr. reports the vesting of 1,063 shares of SouthState Corp common stock on November 1, 2024, as part of previously granted restricted share units.

Summary

• On November 1, 2024, Page G Ruffner Jr., a director of SouthState Corp, had 1,063 shares of common stock vest.
• These shares were issued pursuant to restricted share units (RSUs) granted on May 1, 2024, as part of the stock component of annual director fees.
• The RSUs cliff vested on November 1, 2024.
• Following the transaction, Ruffner directly owns 78,532 shares of SouthState Corp common stock.

Sentiment

Score: 5

Explanation: This is a neutral report on a routine transaction. It doesn't indicate positive or negative sentiment.

Industry Context

This is a routine disclosure related to director compensation and stock ownership, common in the financial services industry.

Comparison to Industry Standards

• Director compensation packages often include stock and RSU grants to align director interests with shareholder value.
• Vesting schedules for director equity awards typically range from immediate vesting to vesting over several years.
• The size of the grant is typical for a director of a company of SouthState's size.

Stakeholder Impact

• The vesting of shares has a minor dilutive effect on existing shareholders.

Key Dates