Form 4: SSB CFO Matthews Reports RSU Vesting & Tax Withholding

SouthState Bank Corp's CFO, William E. Matthews V, reported the vesting of restricted stock units and subsequent share withholding for tax obligations on January 1, 2026.

Summary

• William E. Matthews V, Chief Financial Officer of SouthState Bank Corp (SSB), reported multiple transactions on January 1, 2026.
• Acquired 1,156 shares of common stock from Restricted Stock Units (RSUs) awarded on January 24, 2023, representing the final vesting tranche.
• Acquired 1,254 shares of common stock from RSUs awarded on January 23, 2024, representing the second vesting tranche.
• Acquired 1,144 shares of common stock from RSUs awarded on January 21, 2025, representing the first vesting tranche.
• Disposed of 1,787 shares of common stock at a price of $94.11 per share to cover tax liabilities related to the RSU vesting.
• Following these transactions, Matthews beneficially owns 40,442 shares of SouthState Bank Corp common stock directly.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of executive compensation vesting and tax-related share sales. It reflects standard corporate governance practices and does not indicate any significant positive or negative operational or financial news for the company, hence a neutral-to-slightly positive score due to continued insider ownership.

Positives

• The vesting of Restricted Stock Units (RSUs) indicates the fulfillment of long-term incentive compensation for the Chief Financial Officer.
• The increase in beneficial ownership of common stock (before tax withholding) aligns the CFO's interests with shareholders.

Negatives

• A portion of the vested shares (1,787 shares) was disposed of to cover tax liabilities, reducing the net increase in beneficial ownership.

Future Outlook

The filing details scheduled future vesting dates for Restricted Stock Units on January 1, 2027, and January 1, 2028, indicating ongoing long-term incentive compensation for the Chief Financial Officer.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, specifically the vesting of equity compensation and subsequent tax-related sales. Such transactions are common across the financial services industry as part of executive compensation packages designed to align management incentives with long-term shareholder value.

Related Party Transactions

• The vesting of Restricted Stock Units (RSUs) for the Chief Financial Officer constitutes a form of related party transaction as it involves compensation between the company and an executive.

Stakeholder Impact

• Shareholders: The increase in the CFO's direct beneficial ownership (net of tax withholding) generally aligns management's interests with long-term shareholder value. The tax-related sale is a standard practice and not indicative of a lack of confidence.
• Employees: The RSU vesting demonstrates the company's commitment to long-term incentive compensation for its executives.

Next Steps

• Further tranches of RSUs awarded on January 23, 2024, are scheduled to vest on January 1, 2027.
• Further tranches of RSUs awarded on January 21, 2025, are scheduled to vest on January 1, 2027, and January 1, 2028.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to executive compensation (RSU vesting and tax withholding). It does not provide new material information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The transactions are expected and do not alter the fundamental investment thesis for SouthState Bank Corp.

Keywords

SouthState Bank Corp, SSB, Form 4, Insider Transaction, Restricted Stock Units, RSU, Stock Vesting, Chief Financial Officer, William E. Matthews V, Equity Compensation, Tax Withholding