Southern States Bancshares CFO Boosts Stake to 79,479 Shares via Options

Rhea-AI Filing Summary

Southern States Bancshares, Inc. (SSBK) – Form 4 insider activity

Chief Financial Officer Lynn J. Joyce reported the exercise of 34,867 employee stock options on 20 June 2025 under five separate option grants dating from 2018-2022. Each transaction is coded “M,” indicating an option exercise with the shares retained rather than sold. Exercise prices ranged from $14.50 to $20.61 per share.

Following the exercises, Joyce’s direct ownership of common stock rose from 44,612 to 79,479 shares, including 3,022 unvested restricted shares that vest incrementally through February 2028. All five option grants are now fully exercised, leaving zero remaining derivative securities outstanding.

The Form 4 shows no open-market sales, so the transactions represent a net increase in insider ownership. While the additional shares add modest dilution (already accounted for in fully-diluted share count), insider purchasing is commonly viewed as a signal of management confidence, particularly when shares are retained rather than sold to fund the exercise.

• Insider type: Section 16 officer (CFO).
• Total cash outlay: approximately $627 k (exercise price × shares), subject to tax-withholding method not disclosed.
• Post-transaction holding: 79,479 common shares (≈ 3.8 % of 2.1 m shares outstanding if float unchanged; actual float not disclosed).

No earnings data, corporate actions, or new compensation plans were disclosed in this filing.

Positive

• Insider accumulation: CFO increased direct ownership by 34,867 shares, signaling confidence.
• Derivative overhang eliminated: All reported option grants are now fully exercised, leaving zero outstanding options for this insider.

Negative

• Minor dilution: New shares from option exercise incrementally increase share count, though impact is likely immaterial given prior dilution accounting.

Insights

Corporate Governance Analyst

TL;DR: CFO exercised 34.9k options, kept all shares, boosting stake to 79.5k; insider alignment up, minor dilution negligible.

The filing shows a clean sweep of legacy option grants that were already fully vested. By paying the exercise prices and holding the resulting shares, the CFO demonstrates confidence in Southern States Bancshares’ medium-term outlook and aligns her incentives with shareholders. Because the options were part of prior equity plans, the dilution is already reflected in the company’s diluted EPS calculations. Importantly, there are now no derivative positions outstanding for this executive, reducing overhang risk.

For investors, insider accumulation—especially by senior financial officers—is typically interpreted as a positive governance signal. However, given the modest absolute size relative to the bank’s total float and absence of concurrent fundamental news, market impact should be limited to sentiment improvement.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

JOYCE LYNN J

(Last) (First) (Middle)

615 QUINTARD AVE

(Street)

ANNISTON AL 36201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Southern States Bancshares, Inc. [ SSBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $5.00 per share	06/20/2025		M		7,500	A	$14.5	52,112(1)	D
Common Stock, par value $5.00 per share	06/20/2025		M		9,486	A	$16	61,598(1)	D
Common Stock, par value $5.00 per share	06/20/2025		M		10,828	A	$20.1	72,426(1)	D
Common Stock, par value $5.00 per share	06/20/2025		M		3,865	A	$20.03	76,291(1)	D
Common Stock, par value $5.00 per share	06/20/2025		M		3,188	A	$20.61	79,479(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
STOCK OPTION (RIGHT TO BUY)	$14.5	06/20/2025		M			7,500	(2)	01/21/2028	Common Stock	7,500	$0	0	D
STOCK OPTIONS (RIGHT TO BUY)	$16	06/20/2025		M			9,486	(3)	02/08/2029	Common Stock	9,486	$0	0	D
STOCK OPTION (RIGHT TO BUY)	$20.1	06/20/2025		M			10,828	(4)	01/22/2030	Common Stock	10,828	$0	0	D
STOCK OPTIONS (RIGHT TO BUY)	$20.03	06/20/2025		M			3,865	(5)	02/10/2031	Common Stock	3,865	$0	0	D
STOCK OPTIONS (RIGHT TO BUY)	$20.61	06/20/2025		M			3,188	(6)	02/09/2032	Common Stock	3,188	$0	0	D

Explanation of Responses:

1. Includes 3,022 in unvested restricted shares which will incrementally vest annually by 2/19/2028.

2. These options were granted on 1/21/2018, vest in one-third increments over three years, and became fully vested and exercisable on 1/21/2021.

3. These options were granted on 2/08/2019, vest in one-third increments over three years, and became fully vested and exercisable on 2/08/2022.

4. These options were granted on 1/22/2020, vest in one-third increments over three years, and became fully vested and exercisable on 1/22/2023.

5. These options were granted on 2/10/2021, vest in one-third increments over three years, and became fully vested and exercisable on 2/10/2024.

6. These options were granted on 2/9/2022, vest in one-third increments over three years, and became fully vested and exercisable on 2/9/2025.

Remarks:

	/s/ Lynn J. Joyce, by Jeff Shanks as Attorney-in-Fact	06/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Southern States Bancshares (SSBK) shares did the CFO acquire?

Lynn J. Joyce acquired 34,867 shares through option exercises on 20 Jun 2025.

What is Lynn J. Joyce's total SSBK ownership after the transactions?

Her direct holdings rose to 79,479 common shares, including 3,022 unvested restricted shares.

Were any SSBK shares sold in this Form 4 filing?

No. All transactions were coded "M" (option exercise) and the shares were retained; no sales were reported.

What exercise prices were paid for the SSBK options?

Exercise prices ranged from $14.50 to $20.61 per share across five grants.

Are there any SSBK options remaining for the CFO after this filing?

No. The filing shows zero derivative securities remaining for this insider.