Curtis C. Griffith - Dec 29, 2023 Form 4 Insider Report for SOUTH PLAINS FINANCIAL, INC. (SPFI)

Role
Chairman and CEO, Director, 10%+ Owner
Signature
/s/ By Mikella D. Newsom as Attorney-in-Fact for Curtis C. Griffith
Stock symbol
SPFI
Transactions as of
Dec 29, 2023
Transactions value $
$43,076
Form type
4
Date filed
1/3/2024, 06:03 PM
Previous filing
Nov 9, 2023
Next filing
Feb 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPFI Common Stock Options Exercise $93K +9K +0.68% $10.33 1.34M Dec 29, 2023 Direct F1
transaction SPFI Common Stock Tax liability -$135K -4.57K -0.34% $29.58 1.33M Dec 29, 2023 Direct
transaction SPFI Common Stock Award $125K +4.26K +0.32% $29.32 1.34M Jan 2, 2024 Direct
transaction SPFI Common Stock Tax liability -$39.7K -1.37K -0.1% $28.96 1.34M Jan 2, 2024 Direct
holding SPFI Common Stock 45.4K Dec 29, 2023 By Spouse F2
holding SPFI Common Stock 435K Dec 29, 2023 By CCG Trust F3
holding SPFI Common Stock 64K Dec 29, 2023 By RTW Trust F4
holding SPFI Common Stock 87K Dec 29, 2023 By BLW Trust F5
holding SPFI Common Stock 87K Dec 29, 2023 By WHW Trust F6
holding SPFI Common Stock 87K Dec 29, 2023 By SSG Trust F7
holding SPFI Common Stock 87K Dec 29, 2023 By JBG Trust F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SPFI Stock Options (Right to Buy) Options Exercise $0 -9K -100% $0.00* 0 Dec 29, 2023 Common Stock 9K $10.33 Direct F9
transaction SPFI Stock Options (Right to Buy) Award $0 +12.6K $0.00 12.6K Jan 2, 2024 Common Stock 12.6K $29.32 Direct F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares reported include restricted stock units that may be settled only by delivery of an equal number of shares of common stock and which are subject to vesting and forfeiture conditions.
F2 Shares owned by the Reporting Person's spouse. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
F3 Shares held in the Curtis C. Griffith 2021 Irrevocable Trust ("CCG Trust"), over which the Reporting Person's spouse, who shares the Reporting Person's household, serves as trustee. The members of the Reporting Person's immediate family are the beneficiaries of this trust. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.
F4 Shares held in the Richard Thomas White 2021 Trust ("RTW Trust"), over which the Reporting Person serves as trustee. A member of the Reporting Person's immediate family is the beneficiary of this trust.
F5 Shares held in the Birdie Lucille White 2021 Trust ("BLW Trust"), over which the Reporting Person serves as trustee. A member of the Reporting Person's immediate family is the beneficiary of this trust.
F6 Shares held in the William Hogan White 2021 Trust ("WHW Trust"), over which the Reporting Person serves as trustee. A member of the Reporting Person's immediate family is the beneficiary of this trust.
F7 Shares held in the Sydney Suzanne Griffith 2021 Trust ("SSG Trust"), over which the Reporting Person serves as trustee. A member of the Reporting Person's immediate family is the beneficiary of this trust.
F8 Shares held in the Johnathan Brockway Griffith 2021 Trust ("JBG Trust"), over which the Reporting Person serves as trustee. A member of the Reporting Person's immediate family is the beneficiary of this trust.
F9 The stock options were fully vested and exercisable on the date of grant to the Reporting Person.
F10 25% of the stock options vest on the first anniversary of January 1, 2024; thereafter, the remaining vest pro rata on a monthly basis over the next 36 months. Notwithstanding the foregoing, the stock options will automatically become fully vested upon the earlier of: (i) the Reporting Person's disability, (ii) the Reporting Person's death, and (iii) immediately prior to a change in control of the Issuer.