Form 4: SouthState Corp Executive Stephen Young Reports Acquisition of Performance and Restricted Share Units

Stephen Dean Young, Chief Strategy Officer of SouthState Corp, reports the acquisition of performance share units and restricted share units.

Summary

• On January 21, 2025, Stephen Dean Young, Chief Strategy Officer of SouthState Corp, reported the acquisition of 6,686 Performance Share Units (PSUs) and 4,457 Restricted Share Units (RSUs).
• The PSUs, priced at $100.9, will vest after a 3-year performance period ending December 31, 2027, and are exchangeable for common stock at a 1:1 ratio.
• The RSUs, also priced at $100.9, will vest in three equal installments on January 1st of 2026, 2027, and 2028, and are also exchangeable for common stock at a 1:1 ratio.
• Following the reported transactions, Young directly owns 29,978 shares of SouthState Corp common stock and 9,332 RSUs.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, indicating standard executive compensation practices. It doesn't contain overtly positive or negative information, hence a neutral sentiment score.

Positives

• The acquisition of share units by a high-ranking officer could be interpreted as a positive sign of confidence in the company's future performance.

Future Outlook

The vesting schedules for both the PSUs and RSUs indicate a long-term incentive structure for the executive, aligning his interests with the company's performance over the next several years.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices using share-based awards.

Comparison to Industry Standards

• Share-based compensation is a common practice in the financial services industry to align executive compensation with shareholder value.
• Companies like JPMorgan Chase, Bank of America, and Wells Fargo also utilize similar equity-based compensation plans for their executives.
• The vesting schedules and types of equity awards (PSUs and RSUs) are fairly standard compared to industry norms.

Stakeholder Impact

• The acquisition of share units by a company executive can have a minor positive impact on shareholder sentiment, as it signals confidence in the company's future performance.

Key Dates