Cory T. Newsom - Dec 29, 2023 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
Dec 29, 2023
Transactions value $
$133,924
Form type
4
Date filed
1/3/2024, 06:25 PM
Previous filing
Jun 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPFI Common Stock Options Exercise $93K +9K +3.41% $10.33 273K Dec 29, 2023 Direct F1
transaction SPFI Common Stock Tax liability -$135K -4.57K -1.67% $29.58 269K Dec 29, 2023 Direct
transaction SPFI Common Stock Award $250K +8.53K +3.17% $29.32 277K Jan 2, 2024 Direct
transaction SPFI Common Stock Tax liability -$73.8K -2.55K -0.92% $28.96 275K Jan 2, 2024 Direct
holding SPFI Common Stock 643 Dec 29, 2023 By Spouse F2
holding SPFI Common Stock 750 Dec 29, 2023 By Child F3

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 F4
transaction SPFI Stock Options (Right to Buy) Award $0 +19.9K $0.00 19.9K Jan 2, 2024 Common Stock 19.9K $29.32 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 owned by the Reporting Person's spouse.
F3 Shares held for the benefit of the Reporting Person's child.
F4 The stock options were fully vested and exercisable on the date of grant to the Reporting Person.
F5 25% of the stock options vest on the first anniversary of January 1, 2024; thereafter, the remaining stock options 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.