SCHEDULE 13G/A: Curtis C. Griffith Discloses 11.25% Beneficial Ownership in South Plains Financial, Inc.

Curtis C. Griffith has filed an Amendment No. 5 to Schedule 13G, disclosing an aggregate beneficial ownership of 11.25% of South Plains Financial, Inc.'s common stock as of December 31, 2024.

Summary

• Curtis C. Griffith beneficially owns an aggregate of 1,862,720 shares of South Plains Financial, Inc. common stock.
• This aggregate ownership represents 11.25% of the company's common stock outstanding as of December 31, 2024, based on 16,455,826 shares outstanding plus 96,765 vested stock options.
• Mr. Griffith holds sole voting and dispositive power over 1,382,360 shares.
• Shares under sole power include 863,587 shares held directly, 96,765 vested stock options, 5,745 stock options exercisable within 60 days, 4,263 restricted stock units, and 408,000 shares across five different 2021 trusts (Richard Thomas White, Birdie Lucille White, William Hogan White, Sydney Suzanne Griffith, and Johnathan Brockway Griffith 2021 Trusts) where he serves as trustee.
• Mr. Griffith holds shared voting and dispositive power over 480,360 shares.
• Shares under shared power include 45,360 shares held by his spouse and 435,000 shares held in the Curtis C. Griffith 2021 Irrevocable Trust, where his spouse serves as trustee. Mr. Griffith disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not convey positive or negative sentiment regarding the company's performance or prospects. It is neutral.

Risks

• The concentration of a significant percentage of shares (11.25%) in the hands of a single individual, Curtis C. Griffith, could potentially influence corporate decisions and governance, which may or may not align with the interests of all shareholders.

Future Outlook

This document is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding the company's future financial performance or strategic outlook.

Industry Context

This filing is a standard regulatory disclosure of a significant shareholder's ownership stake in a publicly traded company. It does not provide information on broader industry trends or competitive positioning, but rather details an individual's investment in a financial institution.

Corporate Governance

Related Party Transactions

• The filing discloses shares held by Mr. Griffith's spouse (45,360 shares) and shares held in the Curtis C. Griffith 2021 Irrevocable Trust (435,000 shares) where his spouse serves as trustee. While not a transaction, this represents a significant related-party ownership interest.

Stakeholder Impact

• Shareholders: The disclosure provides transparency regarding the significant ownership stake of Curtis C. Griffith, which could influence corporate strategy, voting outcomes, and potentially the company's long-term direction.
• Management: A large individual shareholder like Mr. Griffith may exert considerable influence on management decisions and corporate governance matters.

Key Dates

Keywords

South Plains Financial Inc., Curtis C. Griffith, Beneficial Ownership, Schedule 13G, Common Stock, SEC Filing, Ownership Disclosure, Corporate Governance, Investment