[Form 4] Southside Bancshares, Inc. Insider Trading Activity
Brian K. McCabe, Chief Operating Officer of Southside Bancshares, Inc. (SBSI), reported a small non‑derivative acquisition and his beneficial ownership breakdown. The filing records receipt of 46 dividend equivalent rights related to RSUs at a $0 price, described as dividend equivalents that follow the same terms as the underlying restricted stock units. Following the reported transaction, Mr. McCabe is shown as beneficially owning 17,500 shares directly, plus 15,369 shares indirectly through the company ESOP and 8,734 shares indirectly via the 401(k) SSB Trust.
- Transparent disclosure of dividend equivalent rights and breakdown of direct and indirect holdings
- No sales reported, indicating no insider divestiture in this filing
- None.
Insights
TL;DR: Routine insider record showing dividend-equivalent issuance and modest aggregate holdings across direct and retirement plan accounts.
The filing documents a non-cash issuance of 46 dividend equivalent rights attributable to RSUs and confirms the COO's mix of direct and indirect holdings. The indirect holdings through an ESOP and 401(k) trust are common for executive compensation and retirement plans. There is no indication of share sales, option exercises, or derivative activity that would materially change control or signal a liquidity event.
TL;DR: Insignificant market impact; disclosure aligns with typical Section 16 reporting for compensation-related equity credits.
The reported $0 price for the 46 dividend equivalent rights reflects allocation rather than a market purchase. Aggregate disclosed beneficial ownership (17,500 direct; 15,369 ESOP; 8,734 401(k)) should be noted for insider position tracking, but amounts are small relative to a public company capitalization and present no apparent immediate market implication.