South Plains Financial (SPFI) CEO exercises options and corrects insider Form 4
Rhea-AI Filing Summary
South Plains Financial Chairman and CEO Curtis C. Griffith reported an option exercise and related share withholding, and then amended the prior report to correct a checkbox error. On 12/31/2025, he exercised 3,000 stock options at an exercise price of $8.60 per share, acquiring 3,000 shares of common stock. On the same date, 1,224 shares of common stock were disposed of at $39.61 per share in a transaction coded "F," reflecting shares withheld to cover taxes. Following these transactions, he directly held 459,016 shares of common stock, with additional indirect holdings reported in the name of his spouse and several 2021 family trusts. The amendment states it was filed solely to correct the inadvertent checking of the box indicating the transactions were made under a Rule 10b5-1(c) trading plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Options (Right to Buy) | 3,000 | $0.00 | -- |
| Exercise | Common Stock | 3,000 | $8.60 | $26K |
| Tax Withholding | Common Stock | 1,224 | $39.61 | $48K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- 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. 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. 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. 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. 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. 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. 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. 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. These were fully exercisable on date of grant to the Reporting Person.
FAQ
What insider transaction did South Plains Financial (SPFI) report in this Form 4/A?
The filing reports that Chairman and CEO Curtis C. Griffith exercised 3,000 stock options for South Plains Financial common stock at an exercise price of $8.60 per share on 12/31/2025, acquiring 3,000 shares.
Does the South Plains Financial (SPFI) CEO claim full beneficial ownership of his spouse’s and CCG Trust shares?
No. The filing states that the CEO disclaims beneficial ownership of the shares owned by his spouse and the CCG Trust except to the extent of his pecuniary interest, and that filing the report is not an admission of beneficial ownership for Section 16 or any other purpose.
Why was this South Plains Financial (SPFI) Form 4/A amendment filed?
The amendment explains that it was filed to correct the inadvertent checking of the box indicating the transaction was made under a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
What happened to the CEO’s stock options reported in this South Plains Financial (SPFI) filing?
The filing shows that 3,000 stock options with an exercise price of $8.60 per share were exercised on 12/31/2025, resulting in 3,000 underlying shares, and that 0 derivative securities of this grant remained beneficially owned afterward.