South Plains Financial (SPFI) CEO reports share holdings and new options
Rhea-AI Filing Summary
South Plains Financial, Inc. Chairman and CEO Curtis C. Griffith reported several equity transactions on January 5, 2026. The filing shows 1,108 shares of common stock were withheld at $38.28 per share in a transaction coded "F," typically used for shares withheld to cover taxes on equity awards. He also reported acquiring 3,211 shares of common stock at $38.92 per share in a transaction coded "A," bringing his directly held common stock to 461,119 shares, which include restricted stock units subject to vesting and forfeiture conditions.
Indirect holdings are reported as 45,360 shares owned by his spouse and additional blocks held in multiple family trusts, some of which he expressly disclaims beneficial ownership except for any pecuniary interest. Griffith was also granted 10,644 stock options with an exercise price of $38.92 per share, expiring on January 5, 2036. Twenty-five percent of these options vest on the first anniversary of January 5, 2026, with the remainder vesting monthly over the following 36 months, and they become fully vested earlier upon disability, death, or a change in control.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Options (Right to Buy) | 10,644 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,108 | $38.28 | $42K |
| Grant/Award | Common Stock | 3,211 | $38.92 | $125K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
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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. 25% of the stock options vest on the first anniversary of January 5, 2026; thereafter, the remaining vest pro rata on a month 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.
FAQ
What insider activity did South Plains Financial (SPFI) report for Curtis C. Griffith on January 5, 2026?
The report shows that Chairman and CEO Curtis C. Griffith had 1,108 common shares withheld in a transaction coded "F" at $38.28 per share and acquired 3,211 common shares in a transaction coded "A" at $38.92 per share. He also received 10,644 stock options with an exercise price of $38.92.
What stock options were granted to Curtis C. Griffith by South Plains Financial (SPFI)?
Griffith was granted 10,644 stock options (right to buy) with an exercise price of $38.92 per share, expiring on January 5, 2036. 25% of the options vest on the first anniversary of January 5, 2026, and the remaining options vest pro rata monthly over the next 36 months, with full acceleration upon disability, death, or a change in control.
How do the restricted stock units affect Curtis C. Griffith’s reported SPFI ownership?
The filing notes that the reported direct holdings include restricted stock units that may only be settled by delivery of an equal number of common shares. These units are subject to vesting and forfeiture, meaning the final number of shares Griffith receives depends on satisfying the award’s conditions.
Under what conditions do Curtis C. Griffith’s SPFI stock options fully vest early?
The stock options will automatically become fully vested upon the earlier of the reporting person’s disability, the reporting person’s death, or immediately prior to a change in control of South Plains Financial.