SouthState Bank Corp (SSB) President receives new PSU and RSU grants
Rhea-AI Filing Summary
SouthState Bank Corp President Murray Richard IV received new equity awards linked to the company’s common stock. On 01/20/2026 he was granted 6,178 Performance Share Units at a reference price of $96.88 each, which will vest after a three-year performance period ending on December 31, 2028. Each unit can be exchanged for one share of common stock after vesting.
He was also granted 4,119 time-vested Restricted Share Units at $96.88 per unit. These RSUs vest in three equal installments on January 1, 2027, January 1, 2028, and January 1, 2029, with each vested unit exchangeable for one share of common stock. Following these awards, he directly holds 18,559 Performance Share Units and 8,954 Restricted Share Units. The filing notes that its timing was affected by an administrative delay.
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FAQ
What insider transaction did SouthState Bank Corp (SSB) report for its President?
The President, Murray Richard IV, received grants of 6,178 Performance Share Units and 4,119 Restricted Share Units on January 20, 2026, both tied to SouthState Bank Corp common stock at a reference price of $96.88 per unit.
How do the Performance Share Units granted to the SSB President vest?
The 6,178 Performance Share Units awarded on January 20, 2026 will vest following a three-year performance period ending on December 31, 2028. After vesting, each unit is exchangeable for one share of SouthState Bank Corp common stock.
What is the vesting schedule for the Restricted Share Units granted to the SSB President?
The 4,119 Restricted Share Units granted on January 20, 2026 vest in three equal installments: one third on January 1, 2027, one third on January 1, 2028, and one third on January 1, 2029. Each vested RSU can be exchanged for one share of common stock.
What are the President’s derivative holdings in SouthState Bank Corp after these grants?
After the reported grants, the President directly holds 18,559 Performance Share Units and 8,954 Restricted Share Units, each unit being exchangeable for one share of SouthState Bank Corp common stock upon vesting.
Were there any special conditions noted for the SSB insider equity awards?
The filing states that the Performance Share Units are subject to a three-year performance period ending on December 31, 2028, while the Restricted Share Units vest annually on January 1, 2027, January 1, 2028, and January 1, 2029. All units convert into common stock at a 1-for-1 exchange rate after vesting.
Why was the SouthState Bank Corp Form 4 filing timing noted in the remarks?
The remarks state that the timing of the Form 4 was due to an administrative delay, indicating the report was filed later than the transaction date for process-related reasons.