# EDGAR Filing Document

**Accession Number:** 0001775199
**File Stem:** 0001775199-23-000001
**Filing Date:** 2023-1
**Character Count:** 7422
**Document Hash:** b0e1823512f31b81f8f7437f2c36bbb3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001775199-23-000001.hdr.sgml**: 20230104

**ACCESSION NUMBER**: 0001775199-23-000001

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230104

**DATE AS OF CHANGE**: 20230104

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Newsom Cory T
- **CENTRAL INDEX KEY:** 0001775199

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38895
- **FILM NUMBER:** 23506042

**MAIL ADDRESS:**
- **STREET 1:** 5219 CITY BANK PARKWAY
- **CITY:** LUBBOCK
- **STATE:** TX
- **ZIP:** 79407-3544
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SOUTH PLAINS FINANCIAL, INC.
- **CENTRAL INDEX KEY:** 0001163668
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 5219 CITY BANK PARKWAY
- **CITY:** LUBBOCK
- **STATE:** TX
- **ZIP:** 79407-3544
- **BUSINESS PHONE:** 806-792-7101

**MAIL ADDRESS:**
- **STREET 1:** 5219 CITY BANK PARKWAY
- **CITY:** LUBBOCK
- **STATE:** TX
- **ZIP:** 79407-3544

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOUTH PLAINS FINANCIAL INC
- **DATE OF NAME CHANGE:** 20011214

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] 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**<sup>*</sup><br>Newsom Cory T<br><sub>(Last) (First) (Middle)</sub><br>5219 CITY BANK PARKWAY<br><sub>(Street)</sub><br>LUBBOCK, TX 79407-3544<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-12-30 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>SOUTH PLAINS FINANCIAL, INC. [ SPFI ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2022-12-30 |  | M |  | 9000 | A | $12.03 | 181734<sup>(1)(2)</sup> | D |  |
| Common Stock | 2022-12-30 |  | F |  | 5125 | D | $27.93 | 176609<sup>(1)</sup> | D |  |
| Common Stock | 2023-01-03 |  | F |  | 2397 | D | $27.53 | 174212<sup>(1)</sup> | D |  |
| Common Stock | 2023-01-03 |  | A |  | 9081 | A | $27.53 | 183293<sup>(1)</sup> | D |  |
| Common Stock |  |  |  |  |  |  |  | 750 | I | By Child<sup>(3)</sup> |
| Common Stock |  |  |  |  |  |  |  | 81895 | I | By ESOP<sup>(4)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Stock Options (Right to Buy) | $12.03 | 2022-12-30 |  | M |  |  | 9000 | <sup>(5)</sup> | 2022-12-31 | Common Stock | 9000 | $0 | 0 | D |  |
| Stock Options (Right to Buy) | $27.53 | 2023-01-03 |  | A |  | 21358 |  | <sup>(6)</sup> | 2033-01-03 | Common Stock | 21358 | $0 | 21358 | D |  |

---

### 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.

(2) Effective September 12, 2022, SPFI eliminated the SPFI stock fund as an investment alternative available under the City Bank 401(k) Plan (the "401(k) Plan").  As a result, the 276 shares of SPFI common stock the Reporting Person previously reported as beneficially owned under the 401(k) Plan were liquidated.

(3) Shares held for the benefit of the Reporting Person's child.

(4) Shares held by the South Plains Financial, Inc. Employee Stock Ownership Plan ("ESOP") and allocated to the Reporting Person's account.

(5) These were fully exercisable on date of grant.

(6) 25% of the stock options vest on the first anniversary of January 1, 2023; 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.

**Signature:** By Mikella D. Newsom as Attorney-in-Fact for Cory T. Newsom  
**Date:** 2023-01-04

### Remarks:

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.**