SouthState (SSB) CEO Disposes 5,000 Shares as Charitable Gift
Rhea-AI Filing Summary
John C. Corbett, CEO and Director of SouthState Bank Corp (SSB), reported a non‑derivative disposition of 5,000 shares of the company's common stock on 09/18/2025. The Form 4 shows the shares were disposed of under transaction code G(1) and priced at $0.00, with an explanation stating this was a bona fide gift to a charitable organization. After the reported transaction, the filing shows Mr. Corbett beneficially owns 107,750 shares. The Form 4 was filed individually and signed by William E. Matthews, V, CFO, pursuant to power of attorney.
Positive
- Transaction disclosed under Section 16, demonstrating regulatory compliance and transparency
- Disposition is a bona fide charitable gift (transaction code G(1)), not a market sale
- Reporting person retains 107,750 shares, indicating continued ownership stake
Negative
- None.
Insights
TL;DR: CEO reported a small charitable gift of company shares, reducing holdings to 107,750 shares; disclosure consistent with Section 16 rules.
The filing documents a non‑economic transfer (transaction code G(1)) of 5,000 common shares as a bona fide charitable gift, which is regularly reported and does not indicate compensation or a market sale. Such gifts are common for executives and are covered by Section 16 reporting requirements to maintain transparency. The reported remaining beneficial ownership of 107,750 shares provides continuing alignment with shareholder interests. No derivative transactions or option exercises are reported.
TL;DR: Transaction appears routine and properly disclosed; no immediate regulatory or market implications evident.
The Form 4 identifies the reporter as both an officer (CEO) and director, and it was filed by one reporting person. The use of transaction code G(1) with a $0.00 price and an explicit explanation of a charitable gift aligns with permitted non‑market dispositions. Filing via power of attorney is noted and signed by the company CFO. There are no indications of related derivative activity, insider sales for cash, or other material changes that would typically affect market assessment.