Cory T. Newsom - Jan 19, 2022 Form 4 Insider Report for SOUTH PLAINS FINANCIAL, INC. (SPFI)

Role: President, Director
Signature: /s/ By Mikella D. Newsom as Attorney-in-Fact for Cory T. Newsom
Stock symbol: SPFI
Transactions as of: Jan 19, 2022
Transactions value $: $0
Form type: 4
Date filed: 1/21/2022, 01:18 PM
Previous filing: Jan 4, 2022
Next filing: Mar 23, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SPFI	Common Stock	Award	$0	+8.49K	+5.02%	$0.00	177K	Jan 19, 2022	Direct	F1
holding	SPFI	Common Stock						750	Jan 19, 2022	By Child	F2
holding	SPFI	Common Stock						81.3K	Jan 19, 2022	By ESOP	F3
holding	SPFI	Common Stock						152	Jan 19, 2022	By 401(k)	F4

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)	Award	$0	+21K		$0.00	21K	Jan 19, 2022	Common Stock	21K	$29.46	Direct	F5

* 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 held for the benefit of the Reporting Person's child.
F3	Shares held by the South Plains Financial, Inc. Employee Stock Ownership Plan ("ESOP") and allocated to the Reporting Person's account.
F4	Shares held in the Reporting Person's account under the City Bank 401(k) Plan.
F5	25% of the stock options vest on the first anniversary of January 1, 2022; 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.