Southern States Bancshares CRO Ups Stake to 97.8k Shares in Form 4

Rhea-AI Filing Summary

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

Chief Risk Officer Gregory B. Smith exercised a block of vested employee stock options on 20 June 2025. Five separate option grants with strike prices ranging from $16.00 to $30.23 were converted (transaction code “M”), resulting in the acquisition of 25,826 common shares. No shares were sold into the open market.

• Post-transaction direct beneficial ownership rises to 97,818 common shares, including 3,022 unvested restricted shares that continue to vest annually through 19 Feb 2028.
• The oldest grants (2019–2022) are now fully exercised; newer grants dated 2023 and 2024 retain 706 and 1,735 options outstanding, respectively, with expiration dates in 2033-2034.
• The filings show a cashless exercise price equal to the option strike; no market purchase price is disclosed, suggesting standard exercise mechanics.

The absence of open-market sales implies the executive is increasing exposure to SSBK equity rather than monetising holdings. While the share count involved (< 100 k) is modest relative to the company’s public float, insider accumulation is often interpreted as a vote of confidence in future performance. Investors should note potential marginal dilution from option conversion, though the impact is typically immaterial at this scale.

Positive

• Insider accumulation: Officer increased ownership by 25,826 shares with no concurrent sales, signalling confidence in SSBK’s outlook.

Negative

• None.

Insights

Financial Analyst

TL;DR: Officer exercised 25.8k options, upped stake to 97.8k shares; no sales, signalling confidence, dilution immaterial.

The Form 4 documents multiple option exercises by SSBK’s Chief Risk Officer. Converting options with strikes of $16–$30.23 removes legacy grants from the overhang and increases the insider’s direct equity position by roughly 36%. Remaining options total only 2.4 k shares, limiting future dilution pressure. Because no shares were sold, the transaction reads as an accumulation event rather than profit-taking. From a governance lens, insider purchases often precede favourable fundamentals, although the economic outlay is limited to the exercise cost. Given SSBK’s relatively small float, the absolute share addition is not material to valuation, so I classify the impact as slightly positive but not market-moving.

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
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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^*

Smith Gregory B.

(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 Risk 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		9,529	A	$16	81,521(1)	D
Common Stock, par value $5.00 per share	06/20/2025		M		10,828	A	$20.1	92,349(1)	D
Common Stock, par value $5.00 per share	06/20/2025		M		3,188	A	$20.61	95,537(1)	D
Common Stock, par value $5.00 per share	06/20/2025		M		1,414	A	$30.23	96,951(1)	D
Common Stock, par value $5.00 per share	06/20/2025		M		867	A	$26.42	97,818(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)	$16	06/20/2025		M			9,529	(2)	02/08/2029	Common Stock	9,529	$0	0	D
STOCK OPTION (RIGHT TO BUY)	$20.1	06/20/2025		M			10,828	(3)	01/22/2030	Common Stock	10,828	$0	0	D
STOCK OPTIONS (RIGHT TO BUY)	$20.61	06/20/2025		M			3,188	(4)	02/09/2032	Common Stock	3,188	$0	0	D
STOCK OPTIONS (RIGHT TO BUY)	$30.23	06/20/2025		M			1,414	(5)	02/15/2033	Common Stock	1,414	$0	706	D
STOCK OPTIONS (RIGHT TO BUY)	$26.42	06/20/2025		M			867	(6)	02/21/2034	Common Stock	867	$0	1,735	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 2/8/2019, vested in one-third increments over three years, and became fully vested and exercisable on 2/8/2022.

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

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

5. These options were granted on 2/15/2023 and vest in one-third increments over three years.

6. These options were granted on 2/21/2024 and vest in one-third increments over three years.

Remarks:

	/s/ Gregory B. Smith, 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 SSBK shares did Gregory B. Smith acquire on 20 June 2025?

He acquired 25,826 common shares through the exercise of five option grants.

What is Gregory B. Smith’s total direct ownership in SSBK after the Form 4 transactions?

His direct beneficial ownership is 97,818 shares, including 3,022 unvested restricted shares.

Were any SSBK shares sold in this Form 4 filing?

No. All transactions were coded “M” (option exercises) and no shares were sold.

Do any options remain outstanding for Gregory B. Smith?

Yes. He still holds 706 options at $30.23 (exp. 02/15/2033) and 1,735 options at $26.42 (exp. 02/21/2034).

What percentage of the exercised options were from grants fully vested before 2025?

Options dated 2019-2022 (total 23,545 shares) were 100 % vested prior to 2025 and fully exercised in this filing.