[Form 4] SOUTH PLAINS FINANCIAL, INC. Insider Trading Activity

Rhea-AI Filing Summary

Insider sales by a director and 10% owner. Richard D. Campbell reported open-market sales of South Plains Financial, Inc. (SPFI) common stock on 09/11/2025 and 09/12/2025. On 09/11/2025 he sold 44,417 shares at a weighted average price of $40.21, leaving 1,544,969 shares reported as beneficially owned indirectly through Henry TAW LP. On 09/12/2025 he sold 15,583 shares at a weighted average price of $39.62, leaving 1,529,386 shares beneficially owned indirectly through Henry TAW LP. The filings note additional holdings: 9,761 shares disposed and 40,000 shares held indirectly by Racham Investment Group LLC. The Form 4 was signed by an attorney-in-fact on 09/15/2025 and includes explanations that the sales were multiple same-day open-market transactions reported at weighted average prices.

Positive

• Transparent disclosure of weighted-average sale prices with offer to provide per-trade details to the SEC or shareholders
• Continued substantial ownership: reporting person still beneficially owns over 1.5 million shares indirectly via Henry TAW LP

Negative

• Insider sales: aggregate open-market dispositions (44,417 shares on 09/11/2025 and 15,583 shares on 09/12/2025) reduce holdings
• Indirect holdings via entities: control exercised through Henry TAW LP and Racham Investment Group LLC may complicate governance transparency

Insights

Financial Analyst

TL;DR: Director sold a modest portion of holdings across two days; reported holdings remain large and indirect.

The reported sales total 60,000 shares across 09/11/2025 and 09/12/2025 when aggregated with a 9,761-share disposition noted elsewhere. Weighted average prices reported are $40.21 and $39.62 for the two trade days. After the sales, the reporting person still reports over 1.5 million shares beneficially owned indirectly via Henry TAW LP, indicating continued substantial exposure to SPFI. The transactions were executed as multiple same-day open-market sales and aggregated for reporting using weighted averages; the filer offers to provide per-trade price details on request.

Corporate Governance Expert

TL;DR: Significant insider remains large shareholder but executed routine open-market sales; disclosure appears compliant.

Richard D. Campbell is identified as both a director and a greater-than-10% owner and reports voting authority over shares held by Henry TAW LP via a voting agreement and irrevocable proxy. The Form 4 discloses indirect ownership through two entities and documents the broker-executed sales with weighted-average pricing and an attorney-in-fact signature. From a governance and disclosure perspective, the filing provides material identifiers of indirect ownership and offers to furnish detailed trade-by-trade prices, which supports regulatory transparency. No additional governance changes or departures are reported.

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

1. Name and Address of Reporting Person^*

Campbell Richard D

(Last) (First) (Middle)

5219 CITY BANK PARKWAY

(Street)

LUBBOCK TX 79407-3544

(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)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

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

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	09/11/2025		S		44,417	D	$40.21(1)	1,544,969	I	By Henry TAW LP(2)
Common Stock	09/12/2025		S		15,583	D	$39.62(3)	1,529,386	I	By Henry TAW LP(2)
Common Stock								9,761	D
Common Stock								40,000	I	By RIG LLC(4)

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

Explanation of Responses:

1. The reporting person executed a trade order through a broker-dealer which resulted in multiple same day, same way open market sales, with prices ranging from $40.10 to $40.63 per share. The reporting person has reported these sales on an aggregate basis using the weighted average price for the transactions. The reporting person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

2. Shares owned by Henry TAW LP but subject to a voting agreement and irrevocable proxy pursuant to which Mr. Campbell exercises voting authority.

3. The reporting person executed a trade order through a broker-dealer which resulted in multiple same day, same way open market sales, with prices ranging from $39.40 to $40.03 per share. The reporting person has reported these sales on an aggregate basis using the weighted average price for the transactions. The reporting person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

4. Shares owned by Racham Investment Group LLC ("RIG LLC").

	/s/ By Mikella D. Newsom as Attorney-in-Fact for Richard D. Campbell	09/15/2025
	** 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 transactions were reported for SPFI on 09/11/2025 and 09/12/2025?

The Form 4 reports open-market sales of 44,417 shares on 09/11/2025 at a weighted average price of $40.21 and 15,583 shares on 09/12/2025 at a weighted average price of $39.62.

How many SPFI shares does Richard D. Campbell report beneficially owning after these transactions?

He reports beneficial ownership of 1,544,969 shares after the 09/11/2025 reporting and 1,529,386 shares after the 09/12/2025 reporting, held indirectly via Henry TAW LP.

Are the reported sales direct or indirect and who holds voting authority?

The sales are reported as dispositions by the reporting person and the remaining shares are reported as indirectly owned through Henry TAW LP, with Mr. Campbell exercising voting authority under a voting agreement and irrevocable proxy.

Was the Form 4 properly signed and when?

The Form 4 was signed by an attorney-in-fact, Mikella D. Newsom, on 09/15/2025 on behalf of Richard D. Campbell.

Does the filing provide per-trade price details for the sales?

The filing reports weighted average prices and states the sales resulted from multiple same-day open-market transactions; the reporting person offers to provide per-trade price and quantity details upon request to the SEC, issuer, or a security holder.