Southern States Bancshares (SSBK) Form 4 Southern States Bancshares / James Walker Swift ownership change

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

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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).

1. Name and Address of Reporting Person^*

Swift James Walker

(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 Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2024

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	05/07/2024		M		5,000	A	$10	60,539(1)	D
Common Stock, par value $5.00 per share	05/07/2024		M		7,500	A	$14.5	68,039	D
Common Stock, par value $5.00 per share	05/07/2024		M		9,529	A	$16	77,568	D
Common Stock, par value $5.00 per share	05/07/2024		M		10,828	A	$20.1	88,396	D
Common Stock, par value $5.00 per share	05/07/2024		M		3,865	A	$20.03	92,261	D
Common Stock, par value $5.00 per share	05/07/2024		M		2,391	A	$20.61	94,652	D
Common Stock, par value $5.00 per share	05/07/2024		F		28,366	D	$26.45	66,286(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 OPTIONS (RIGHT TO BUY)	$10	05/07/2024		M			5,000	(2)	01/20/2026	Common Stock	5,000	$0	0	D
STOCK OPTIONS (RIGHT TO BUY)	$14.5	05/07/2024		M			7,500	(3)	01/21/2028	Common Stock	7,500	$0	0	D
STOCK OPTIONS (RIGHT TO BUY)	$16	05/07/2024		M			9,529	(4)	01/22/2029	Common Stock	9,529	$0	0	D
STOCK OPTION (RIGHT TO BUY)	$20.1	05/07/2024		M			10,828	(5)	01/22/2030	Common Stock	10,828	$0	0	D
STOCK OPTION (RIGHT TO BUY)	$20.03	05/07/2024		M			3,865	(6)	02/10/2031	Common Stock	3,865	$0	0	D
STOCK OPTIONS (RIGHT TO BUY)	$20.61	05/07/2024		M			2,391	(7)	02/09/2032	Common Stock	2,391	$0	797	D

Explanation of Responses:

1. Includes 13,318 in vested restricted units and 6,658 in unvested restricted units which will fully vest by December 31, 2024. Includes 3,267 in unvested restricted shares which will incrementally vest annually by 2/21/2027

2. These options were granted on 1/20/2016, vest in one-fifth increments over five years, and became fully vested and exercisable on 1/20/2021

3. 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

4. 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

5. 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

6. 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

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

Remarks:

	/s/ James W. Swift, by Jeff Shanks as Attorney-in-Fact	05/08/2024
	** 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).
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