Form 4: SouthState Corp Director Shantella E. Cooper Acquires Shares in Lieu of Cash Retainer

Director Shantella E. Cooper acquired 295 shares of SouthState Corp common stock in lieu of a quarterly cash retainer payment on May 7, 2024.

Summary

• On May 7, 2024, Shantella E. Cooper, a director of SouthState Corp, acquired 295 shares of common stock.
• The acquisition was made in lieu of a quarterly cash retainer payment.
• The price per share was $80.65.
• Following the transaction, Cooper directly owns 5,810 shares of SouthState Corp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to director compensation. The director taking stock instead of cash is a slightly positive signal.

Positives

• The 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, 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 allocation to equity versus cash can vary based on company performance and individual director agreements.
• This transaction is similar to other instances where directors elect to receive equity as part of their compensation, reflecting a belief in the company's long-term value.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with theirs.

Key Dates