Cory T. Newsom - 29 Dec 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
Issuer symbol: SPFI
Transactions as of: 29 Dec 2023
Net transactions value: +$133,924
Form type: 4
Filing time: 03 Jan 2024, 18:25:20 UTC
Previous filing: 09 Jun 2023
Next filing: 03 Jan 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SPFI	Common Stock	Options Exercise	$92,970	+9,000	+3.4%	$10.33	273,182	29 Dec 2023	Direct	F1
transaction	SPFI	Common Stock	Tax liability	$135,181	-4,570	-1.7%	$29.58	268,612	29 Dec 2023	Direct
transaction	SPFI	Common Stock	Award	$249,982	+8,526	+3.2%	$29.32	277,138	02 Jan 2024	Direct
transaction	SPFI	Common Stock	Tax liability	$73,848	-2,550	-0.92%	$28.96	274,588	02 Jan 2024	Direct
holding	SPFI	Common Stock						643	29 Dec 2023	By Spouse	F2
holding	SPFI	Common Stock						750	29 Dec 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	-9,000	-100%	$0.000000^*	0	29 Dec 2023	Common Stock	9,000	$10.33	Direct	F4
transaction	SPFI	Stock Options (Right to Buy)	Award	$0	+19,857		$0.000000	19,857	02 Jan 2024	Common Stock	19,857	$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.