Form 4: SSB Chief Strategy Officer Reports RSU Vesting & Tax Sale
Insider Transaction Report
SouthState Bank Corp's Chief Strategy Officer, Stephen Dean Young, reported the vesting of restricted stock units and a subsequent sale of shares to cover tax obligations.
Summary
- Stephen Dean Young, Chief Strategy Officer of SouthState Bank Corp (SSB), reported transactions on January 1, 2026.
- Acquired a total of 4,696 shares of common stock through the vesting of Restricted Stock Units (RSUs) from three separate awards.
- The RSU awards were granted on January 24, 2023, January 23, 2024, and January 21, 2025, with various vesting schedules.
- Disposed of 1,856 shares of common stock at a price of $94.11 per share to cover tax liabilities associated with the RSU vesting.
- Following these transactions, Mr. Young directly beneficially owns 46,624 shares of SouthState Bank Corp common stock.
Sentiment
Score: 6
Explanation: The filing reports routine executive compensation (RSU vesting) and a standard tax-related share disposition. This is a neutral event, slightly positive as it confirms ongoing executive compensation.
Positives
- Vesting of 4,696 Restricted Stock Units (RSUs) indicates a planned compensation event for the Chief Strategy Officer.
- The RSU awards were granted over several years (2023, 2024, 2025), demonstrating ongoing executive compensation and retention strategies.
Negatives
- Disposition of 1,856 shares of common stock, valued at $94.11 per share, reduces the direct beneficial ownership of the Chief Strategy Officer, although this was for tax purposes.
Future Outlook
The filing indicates future RSU vesting dates for awards granted on January 23, 2024 (next vesting on January 1, 2027) and January 21, 2025 (next vesting on January 1, 2027, and January 1, 2028).
Industry Context
This Form 4 filing reports a routine insider transaction related to executive compensation, which is a common practice across all industries, including the financial sector where SouthState Bank Corp operates. It does not provide specific insights into broader industry trends or competitive positioning.
Comparison to Industry Standards
- The vesting of Restricted Stock Units (RSUs) and subsequent sale of shares to cover tax liabilities are standard components of executive compensation packages in publicly traded companies, including those in the banking sector.
- This practice aligns with typical industry standards for incentivizing and retaining key executives. No specific comparable companies or projects are detailed in this filing.
Stakeholder Impact
- Shareholders: Minimal direct impact as this is a routine insider transaction. It reflects a planned compensation event for a key executive.
Next Steps
- Future vesting of RSU awards granted on January 23, 2024, with the next vesting date on January 1, 2027.
- Future vesting of RSU awards granted on January 21, 2025, with vesting dates on January 1, 2027, and January 1, 2028.
Key Dates
| Date | Description |
|---|---|
| 01/24/2023 | Date of RSU award, vesting one-third on 1/1/2024, 1/1/2025, and 1/1/2026. |
| 01/23/2024 | Date of RSU award, vesting one-third on 1/1/2025, 1/1/2026, and 1/1/2027. |
| 01/21/2025 | Date of RSU award, vesting one-third on 1/1/2026, 1/1/2027, and 1/1/2028. |
| 01/01/2026 | Transaction date for RSU vesting and share disposition for tax liability. |
| 01/02/2026 | Signature date of the reporting person (via power of attorney). |
Keywords
SouthState Bank Corp, SSB, Form 4, RSU, Restricted Stock Units, stock vesting, insider transaction, executive compensation, share disposition, tax liability
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.