MURRAY RICHARD IV 4

What Happened

• Murray Richard IV, President of SouthState Bank Corp (SSB), had 5,945 common shares issued on 2026-02-20 upon conversion/vesting of Performance Share Units (PSUs). The shares were issued at $0.00 (award/vesting), and 2,680 of those shares were withheld/disposed to satisfy tax withholding at an effective price of $105.44 per share, totaling $282,579.
• This was not an open-market purchase or sale for investment purposes but the vesting/conversion of an award; the withholding of shares to cover taxes is a routine administrative disposition.

Key Details

• Transaction dates: 2026-02-20 (transaction), Form 4 filed 2026-02-23 (appears timely).
• Transactions reported: M (exercise/conversion) — 5,945 shares acquired @ $0.00; F (tax withholding) — 2,680 shares disposed @ $105.44, proceeds ≈ $282,579.
• Footnotes: (F1) Shares issued pursuant to PSUs awarded 2023-01-24; PSUs vested after the 3-year performance period ending 2025-12-31. (F2) Shares were withheld to pay tax liability in accordance with Rule 16b-3.
• Shares owned after the transaction: not specified in the provided filing.

Context

• This was a PSU vesting event, not a market purchase; the withholding of a portion of the award to cover taxes is common and does not necessarily indicate a change in the insider’s view of the company.
• Transaction codes: M = conversion/exercise of a derivative (here, PSU vesting), F = shares withheld/disposed to satisfy tax withholding.