Southland (SLND) CEO adds 55,433 shares through RSU vesting and trusts
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Southland Holdings, Inc. President and CEO Frankie S. Renda reported an exercise of restricted stock units that delivered 55,433 shares of common stock, at a conversion price of $0.00 per share. Following this transaction, he directly holds 15,134,788 shares of Southland common stock.
The filing also lists indirect holdings held through family trusts and a spouse account, including shares held by the Frank Renda 2015 Irrevocable Trust and separate trusts for Madison Nicole, Dominic Vincent, and Santino Leonidas Renda, plus shares held by his spouse. A prior award of 166,298 restricted stock units vests over three years, with tranches vesting on June 25, 2025, June 25, 2026, and June 25, 2027, illustrating a structured, multi‑year equity compensation plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
55,433 shares exercised/converted
Mixed
7 txns
Insider
Renda Frankie S.
Role
PRESIDENT AND CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 55,433 | $0.00 | -- |
| Exercise | Common Stock | 55,433 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 55,433 shares (Direct, null);
Common Stock — 15,134,788 shares (Direct, null);
Common Stock — 6,140,497 shares (Indirect, By Frank Renda 2015 Irrevocable Trust)
Footnotes (1)
- Each restricted stock unit is equivalent to one share of the Issuer's common stock. These shares are held directly by the Frank Renda 2015 Irrevocable Trust ("Trust A"), a family trust established for the benefit of the immediate family of Frankie S. Renda. Frankie S. Renda is the sole trustee of Trust A. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting person disclaims beneficial ownership of any such securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that such reporting person is the beneficial owner of such securities for purposes of Section 16 or otherwise. These shares are held directly by the Madison Nicole Renda Trust ("Trust B"), a family trust established for the benefit of a child of Frankie S. Renda. Frankie S. Renda is the sole trustee of Trust B. These shares are held directly by the Dominic Vincent Renda Trust ("Trust C"), a family trust established for the benefit of a child of Frankie S. Renda. Frankie S. Renda is the sole trustee of Trust C. These shares are held directly by the Santino Leonidas Renda Trust ("Trust D"), a family trust established for the benefit of a child of Frankie S. Renda. Frankie S. Renda is the sole trustee of Trust D. These shares are held directly by the spouse of Frankie S. Renda. The reporting person received an award of 166,298 restricted stock units ("RSUs") on June 25, 2024. The RSUs vest over a three-year period, with approximately one-third (1/3) of the RSUs having vested on June 25, 2025, approximately one-third (1/3) of the RSUs having vested on June 25, 2026, and the remaining RSUs vesting on June 25, 2027.
Key Figures
RSUs exercised: 55,433 units/shares
Conversion price: $0.00 per share
Direct common shares after transaction: 15,134,788 shares
+4 more
7 metrics
RSUs exercised
55,433 units/shares
Restricted stock units converted to common stock on June 25, 2026
Conversion price
$0.00 per share
Price for RSU-to-common-stock conversion
Direct common shares after transaction
15,134,788 shares
CEO’s direct Southland Holdings common stock position
Frank Renda 2015 Irrevocable Trust holdings
6,140,497 shares
Indirect common stock position via Trust A
Each child’s trust holdings
2,211,394 shares
Indirect holdings for each of three Renda child trusts
Spouse-held shares
69,270 shares
Indirect holdings by Amanda Delee Renda
Total RSU award
166,298 RSUs
Awarded June 25, 2024 with three-year vesting schedule
Key Terms
restricted stock unit, Section 16 of the Securities Exchange Act of 1934, pecuniary interest, irrevocable trust, +1 more
5 terms
restricted stock unit financial
"Each restricted stock unit is equivalent to one share of the Issuer's common stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Section 16 of the Securities Exchange Act of 1934 regulatory
"For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the reporting person disclaims beneficial ownership..."
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
pecuniary interest financial
"disclaims beneficial ownership of any such securities, except to the extent of his pecuniary interest therein, if any..."
irrevocable trust financial
"These shares are held directly by the Frank Renda 2015 Irrevocable Trust ("Trust A"), a family trust..."
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
beneficial ownership financial
"this report shall not be deemed an admission that such reporting person is the beneficial owner of such securities..."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What insider transaction did Southland Holdings (SLND) report for Frankie S. Renda?
Southland’s CEO Frankie S. Renda exercised restricted stock units into 55,433 shares of common stock at $0.00 per share. This reflects the conversion of equity awards rather than an open‑market share purchase or sale.
What is the size and vesting schedule of the CEO’s RSU award at Southland (SLND)?
The CEO received an award of 166,298 restricted stock units on June 25, 2024. The RSUs vest in three roughly equal tranches on June 25, 2025, June 25, 2026, and June 25, 2027, providing multi‑year equity-based compensation.
What does transaction code M mean in the Southland (SLND) Form 4?
Transaction code M on the Form 4 indicates an exercise or conversion of a derivative security. Here, it reflects the conversion of restricted stock units into an equal number of Southland common shares rather than a market trade.
How many restricted stock units did the Southland (SLND) CEO exercise in this filing?
The CEO exercised 55,433 restricted stock units, each equivalent to one share of Southland common stock. These RSUs converted into the same number of common shares at a stated conversion price of $0.00 per unit.