Burchard Curtis 4

What Happened

• Curtis Burchard, Chief Lending Officer of Southside Bancshares, surrendered 164 shares on 2026-02-06 to satisfy a tax liability tied to an option exercise. The shares were valued at $33.55 each, for a total disposal value of approximately $5,502.
• This was not an open-market sale for cash gain but a share surrender to cover taxes (a routine administrative step following option exercises).

Key Details

• Transaction date: 2026-02-06; reported on Form 4 filed 2026-02-10.
• Price per share: $33.55; shares surrendered/disposed: 164; total value reported: $5,502.
• Transaction code: F — indicates payment of exercise price or tax liability via delivery/surrender of shares (net share withholding).
• Shares owned after transaction: not specified in the provided filing summary.
• Timeliness: the Form 4 was filed four days after the transaction date; Form 4s are generally due within two business days, so this filing appears to have been reported after that standard window.

Context

• For option exercises, insiders commonly satisfy withholding tax by surrendering a portion of the shares received (a net-share settlement); this is an administrative, not necessarily bearish, action.
• Small-dollar withholdings like this (about $5.5k) are routine and typically not a directional signal about the insider’s view of the company.