South Plains (NASDAQ: SPFI) COO exercises 6,000 options, amends filing

Rhea-AI Filing Summary

South Plains Financial, Inc. reported an amended insider transaction for COO of City Bank, Paul A. Ehlers, dated 12/31/2025. Ehlers exercised 6,000 stock options with an exercise price of $8.6 per share, receiving 6,000 shares of common stock.

On the same date, 2,447 shares of common stock were disposed of at $39.61 per share under code F, reflecting shares withheld or surrendered to cover taxes. Following these transactions, Ehlers beneficially owned 86,120 shares of common stock, held directly. The amendment was filed to correct the earlier indication that the transaction had been made under a Rule 10b5-1(c) trading plan.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ehlers Paul A

(Last) (First) (Middle)

5219 CITY BANK PARKWAY

(Street)

LUBBOCK TX 79407

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SOUTH PLAINS FINANCIAL, INC. [ SPFI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			COO - City Bank

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
01/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/31/2025		M		6,000	A	$8.6	88,567(1)	D
Common Stock	12/31/2025		F		2,447	D	$39.61	86,120	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (Right to Buy)	$8.6	12/31/2025		M		6,000		(2)	12/31/2025	Common Stock	6,000	$0	0	D

Explanation of Responses:

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.

2. These were fully exercisable on date of grant to the Reporting Person.

Remarks:

This Amendment on Form 4/A has been filed to amend the Form 4 filed on January 5, 2026 to correct the inadvertent checking of the box indicating that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

	Mikella D. Newsom as Attorney-in-Fact for Paul A Ehlers	01/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did SPFI report for Paul A. Ehlers?

The company reported that Paul A. Ehlers exercised 6,000 stock options at an exercise price of $8.6 per share, receiving 6,000 shares of South Plains Financial, Inc. common stock on 12/31/2025.

How many SPFI shares did Paul A. Ehlers dispose of in this Form 4/A?

The filing shows a disposition of 2,447 shares of common stock at $39.61 per share, reported with transaction code F, which typically reflects shares withheld or surrendered to satisfy tax obligations.

How many SPFI shares does Paul A. Ehlers own after the reported transactions?

After the reported option exercise and share disposition, Paul A. Ehlers beneficially owned 86,120 shares of South Plains Financial, Inc. common stock, held in direct ownership.

What derivative securities were involved in this SPFI Form 4/A filing?

The filing describes stock options (right to buy) covering 6,000 shares of common stock with an exercise price of $8.6 per share. These options were fully exercisable on the grant date and were exercised in full on 12/31/2025, leaving 0 derivative securities of this grant outstanding.

Why was this South Plains Financial Form 4/A filed as an amendment?

The amendment was filed to correct an inadvertent error in the earlier Form 4 submitted on January 5, 2026. The original filing incorrectly checked the box indicating the transaction was made under a Rule 10b5-1(c) trading plan, and this Form 4/A removes that indication.

What is the role of the reporting person in relation to SPFI?

The reporting person, Paul A. Ehlers, is identified as an Officer of the issuer’s subsidiary, with the title COO - City Bank, and the reported holdings are shown as held in direct ownership.