Form 4: SouthState Corp Executive Sara Arana Reports Acquisition of Performance Share Units

Sara Arana, Chief Accounting Officer of SouthState Corp, reports the acquisition of 409 Performance Share Units (PSUs) on March 5, 2024, exchangeable for common stock after a vesting period.

Summary

• On March 6, 2024, a Form 4 filing with the SEC was made by William E. Matthews, V, CFO, pursuant to power of attorney on behalf of Sara Arana, Chief Accounting Officer of SouthState Corp.
• The filing reports a transaction on March 5, 2024, where Ms. Arana acquired 409 Performance Share Units (PSUs) at a price of $84.97.
• These PSUs will vest following a 2-year performance period ending December 31, 2025, and are exchangeable for SouthState Corp's common stock on a 1-for-1 basis after the vesting date.
• Following the reported transaction, Ms. Arana directly owns 690 derivative securities.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard executive compensation practices. The sentiment is neutral to slightly positive as it reflects alignment of executive interests with company performance.

Positives

• The acquisition of Performance Share Units aligns Ms. Arana's interests with the long-term performance of SouthState Corp.

Future Outlook

The Performance Share Units will vest following the 2-year performance period ending December 31, 2025, and are exchangeable for SouthState Corp's common stock on a 1-for-1 basis after the vesting date.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their alignment with shareholder interests.

Stakeholder Impact

• The acquisition of PSUs by a key executive can be viewed positively by shareholders as it aligns management's interests with the company's long-term success.

Key Dates