Form 4: SouthState Corp Executive Richard Murray IV Reports Share Transactions

SouthState Corp's President, Richard Murray IV, acquired shares through vested restricted stock units and subsequently sold some to cover tax obligations.

Summary

• Richard Murray IV, President of SouthState Corp, acquired 2,058 shares of common stock on January 24, 2025, through the vesting of restricted stock units (RSUs).
• These RSUs were initially awarded on January 24, 2023, and vest in three equal installments annually.
• Following the vesting, 934 shares were sold at $103.67 per share to cover tax liabilities related to the vested shares.
• After these transactions, Murray directly owns 62,588 shares of SouthState Corp common stock.

Sentiment

Score: 6

Explanation: The document reflects routine executive stock transactions related to compensation. There is no indication of unusual activity or negative sentiment.

Positives

• The vesting of restricted stock units indicates a long-term incentive for the executive.
• The executive's continued direct ownership of 62,588 shares demonstrates a continued stake in the company's success.

Negatives

• The sale of 934 shares, while for tax purposes, reduces the executive's overall holdings.

Risks

• Executive stock sales, even for tax purposes, can sometimes be perceived negatively by the market.
• The vesting schedule of the RSUs could lead to further sales in the future.

Future Outlook

The remaining restricted stock units will vest on the anniversary date in 2026, which may lead to further transactions.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are often related to compensation and tax planning. This transaction is typical for executives with equity-based compensation.

Comparison to Industry Standards

• The vesting of restricted stock units is a standard practice for executive compensation in the financial services industry.
• The sale of shares to cover tax obligations is also a common practice among executives receiving equity compensation.
• Comparable companies such as Truist Financial and Regions Financial also use similar equity compensation plans for their executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they are related to executive compensation and tax obligations.
• The transactions do not have a significant impact on employees, customers, suppliers, or creditors.

Next Steps

• The remaining restricted stock units will vest on the anniversary date in 2026.

Key Dates

Keywords

SouthState Corp, Richard Murray IV, insider trading, restricted stock units, stock transaction, executive compensation, Form 4