[Form 4] Southern States Bancshares, Inc. Common Insider Trading Activity

Rhea-AI Filing Summary

Nasdaq Stock Market LLC has filed a Form 25 with the U.S. Securities and Exchange Commission to remove Redfin Corporation’s (symbol: RDFN) common stock from listing and registration under Section 12(b) of the Securities Exchange Act of 1934. The filing—signed by Nasdaq AVP Tara Petta on 1 July 2025—certifies that the exchange has reasonable grounds for the submission and has complied with the relevant rules (17 CFR 240.12d2-2(b) and, if applicable, 12d2-2(c)). No financial performance data, earnings metrics, or explanatory narrative is included. The document simply initiates the formal delisting and/or deregistration process for Redfin’s common shares.

Positive

• None.

Negative

• Nasdaq has initiated the removal of Redfin’s common stock from listing and registration via Form 25, signalling an impending delisting.
• The filing provides no explanation or alternative listing plan, increasing uncertainty around future liquidity and governance transparency.

Insights

Equity Market Analyst

TL;DR – Nasdaq’s Form 25 indicates Redfin’s common stock is being delisted/deregistered, a materially negative liquidity event for shareholders.

The filing triggers the SEC process that will terminate Redfin’s Section 12(b) registration and remove its listing on Nasdaq. Delisting typically lowers trading liquidity, can restrict institutional ownership, and may shift the shares to over-the-counter markets unless the company relists elsewhere. Because no accompanying explanation or alternative listing venue is disclosed, the event is presently negative from a market-access standpoint. Investors should monitor subsequent filings (e.g., Form 15, 8-K) for clarification on Redfin’s strategic intent and the effective delisting date.

Corporate Governance Specialist

TL;DR – Filing shows compliance with SEC Rule 12d2-2; absence of context leaves stakeholders with open governance questions.

Nasdaq affirms procedural compliance, but the document offers no insight into whether the withdrawal is voluntary or imposed (e.g., listing-standards deficiency). Lack of disclosure on board resolutions, shareholder communications, or transition plans raises governance transparency issues. Until the issuer supplies additional information, the market must treat the action as a potential risk factor concerning corporate reporting obligations and investor protections.

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

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X

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^*

Hayes Alfred J. Jr.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		D		6,796	D	(1)	0	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

Explanation of Responses:

1. Disposed of in connection with the merger of Southern States Bancshares, Inc. (SSBK) with and into FB Financial Corp. (FBK) effective July 1, 2025 (the Merger). At the effective time of the Merger (the Effective Time), each outstanding share of SSBK's common stock converted into the right to receive 0.8 share of FBK's common stock, with cash payable in lieu of fractional shares. On June 30, 2025, the last trading day before the Effective Time, the closing price of FBK's stock was $45.30 per share.

Remarks:

	/s/ Alfred J. Hayes Jr., by Jeff Shanks as Attorney-in-Fact	07/01/2025
	** 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

What did Nasdaq file for Redfin (RDFN)?

Nasdaq filed Form 25 to remove Redfin’s common stock from listing and registration under Section 12(b).

When was the Form 25 for RDFN signed?

The document was signed on July 1, 2025 by Nasdaq AVP Tara Petta.

Which class of securities is affected by the filing?

The filing pertains to Redfin Corporation’s common stock.

Does the filing explain why Redfin is being delisted?

No. The Form 25 contains no narrative explanation for the delisting or deregistration.

Is this a voluntary withdrawal by Redfin?

The filing references both Exchange and issuer rule compliance but does not explicitly state whether the withdrawal is voluntary or involuntary.

What address is listed for Redfin’s principal executive offices?

Redfin’s address is 1099 Stewart Street, Suite 600, Seattle, WA 98101 (phone: 206-435-7233).