Director acquires 372,872 South Plains Financial shares
South Plains Financial director James D. Stein acquired 372,872 shares of common stock through a share-for-share merger conversion.
Rhea-AI Filing Summary
South Plains Financial director James D. Stein acquired 372,872 shares of common stock through a share-for-share merger conversion. The acquisition, dated April 1, 2026, was reported at a price of $0.00 per share, reflecting equity issued under an Agreement and Plan of Reorganization with BOH Holdings.
Under that agreement, each share of BOH common stock converted into the right to receive 0.1925 shares of South Plains Financial stock, and BOH restricted stock awards also converted into the same per share merger consideration. Following this transaction, Stein directly holds 372,872 shares, indicating this filing records his full post-merger equity position rather than an open-market purchase.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 372,872 shares
Grant/Award
1 txn
Insider
Stein James D.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 372,872 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 372,872 shares (Direct)
Footnotes (1)
- F1. Pursuant to the terms of the Agreement and Plan of Reorganization (the "Agreement") by and between Issuer and BOH Holdings, Inc. ("BOH"), dated as of December 1, 2025, each share of BOH common stock (other than certain excluded shares) outstanding immediately prior to the effective time of the merger of BOH with and into Issuer (the "Merger"), converted into the right to receive 0.1925 shares of Issuer common stock (the "Per Share Merger Consideration"). Further, pursuant to the terms of the Agreement, each restricted stock award in respect of shares of BOH common stock granted by BOH that was issued, outstanding and unexercised immediately prior to the effective time of the Merger converted into the right to receive the Per Share Merger Consideration.
Key Figures
Shares acquired: 372,872 shares
Price per share: $0.00 per share
Post-transaction holdings: 372,872 shares
+1 more
4 metrics
Shares acquired
372,872 shares
Common Stock acquired on April 1, 2026
Price per share
$0.00 per share
Stated transaction price for grant/award acquisition
Post-transaction holdings
372,872 shares
Total common shares directly owned after transaction
Per share merger consideration
0.1925 shares
SPFI shares received per BOH common share in merger
Key Terms
Agreement and Plan of Reorganization, Per Share Merger Consideration, effective time of the Merger, restricted stock award
4 terms
Agreement and Plan of Reorganization financial
"Pursuant to the terms of the Agreement and Plan of Reorganization (the "Agreement") by and between Issuer and BOH Holdings, Inc."
An agreement and plan of reorganization is a formal roadmap negotiated between a financially distressed company and its creditors that explains how debts, assets and ownership will be restructured so the business can continue operating. For investors it’s the document that determines who gets paid, what claims are reduced or converted into new shares, and how much existing equity may be wiped out or diluted — like a household rearranging bills and mortgages to stay solvent while deciding who gets repaid and how.
effective time of the Merger financial
"outstanding immediately prior to the effective time of the merger of BOH with and into Issuer (the "Merger")."
The effective time of the merger is the exact moment when a planned combination of two companies legally takes effect, usually specified in the merger agreement and reflected by the formal filing or timestamp. For investors, it is the point when ownership, voting rights, financial reporting and control shift—like a light switch flipping that joins two rooms into one—so it determines when shares convert, who controls corporate decisions and which results appear in financial statements.
restricted stock award financial
"each restricted stock award in respect of shares of BOH common stock granted by BOH that was issued, outstanding and unexercised immediately prior to the effective time"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did James D. Stein report in his Form 4 for SPFI?
James D. Stein reported acquiring 372,872 SPFI common shares. The shares were received at a stated price of $0.00 per share as part of an equity conversion tied to the merger between South Plains Financial and BOH Holdings, not through an open-market stock purchase.
Is James D. Stein’s SPFI Form 4 a market purchase or a grant?
The Form 4 reflects a grant/award-type acquisition, not a market buy. The transaction code “A” and $0.00 price show the 372,872 shares were received through the BOH merger equity conversion, categorized as a grant, award, or other acquisition.
AI-generated analysis. How Rhea-AI works. Not financial advice.
