Cory T. Newsom - 19 Jan 2022 Form 4/A - Amendment 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
19 Jan 2022
Net transactions value
$0
Form type
4/A - Amendment
Filing time
21 Jan 2022, 14:03:01 UTC
Date Of Original Report
19 Jan 2022
Previous filing
04 Jan 2022
Next filing
23 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPFI Common Stock Award $0 +8,486 +5% $0.000000 177,447 19 Jan 2022 Direct F1
holding SPFI Common Stock 750 19 Jan 2022 By Child F2
holding SPFI Common Stock 81,254 19 Jan 2022 By ESOP F3
holding SPFI Common Stock 152 19 Jan 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 +21,012 $0.000000 21,012 19 Jan 2022 Common Stock 21,012 $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.

Remarks:

The purpose of this amendment is solely to correct a typographical error relating to the stock option expiration date disclosed in Table II, Item 6 (Expiration Date) of the Reporting Person's Form 4 filed on January 21, 2022, which incorrectly stated a stock option expiration date of 01/19/2022. This corrected Form 4 reflects the correct stock option expiration date of 01/19/2032 in Table II, Item 6 (Expiration Date).