Form 4: SouthState Corp Director Shantella E. Cooper Reports Stock Award Vesting

Director Shantella E. Cooper reports the vesting of restricted stock units (RSUs) into 1,063 shares of SouthState Corp common stock on November 1, 2024.

Summary

• On November 1, 2024, Shantella E. Cooper, a director of SouthState Corp, had 1,063 Restricted Stock Units (RSUs) vest.
• These RSUs converted into 1,063 shares of SouthState Corp common stock.
• The RSUs were granted on May 1, 2024, as part of the stock component of the annual director fees and cliff vested on November 1, 2024.
• Following the transaction, Cooper directly owns 7,146 shares of SouthState Corp common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment as it reflects standard corporate governance practices.

Industry Context

This filing 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 options and restricted stock units 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 equity award is generally benchmarked against peer companies in the banking sector.

Stakeholder Impact

• The vesting of RSUs has a minor dilutive effect on existing shareholders.
• The transaction aligns the director's interests with those of the shareholders.

Key Dates