Bates Brent A 4

What Happened

• Brent A. Bates, Chief Credit Officer (CCO) of South Plains Financial, had 840 shares withheld to satisfy tax withholding tied to equity compensation and was granted 2,283 restricted stock units (RSUs).
• Withheld shares: 840 shares disposed at $42.50 per share for a total of $35,700 (reported 2026-02-17).
• Grant: 2,283 shares reported as an award/other acquisition at $0.00 (RSUs) on 2026-02-18.

Key Details

• Transaction dates and amounts:
  • 2026-02-17 — 840 shares withheld (code F) at $42.50; proceeds/withholding $35,700.
  • 2026-02-18 — 2,283 RSUs granted (code A) at $0.00.
• Shares owned after the transactions: not specified in the Form 4 filing.
• Footnote: The reported shares include restricted stock units that can be settled only by delivery of an equal number of common shares and are subject to vesting and forfeiture conditions.
• Filing timeliness: Form filed 2026-02-19 for transactions on 2/17–2/18; appears to be timely.

Context

• This was not an open-market purchase or sale for cash gain but a routine equity-compensation event: Bates received an RSU award and had shares withheld to cover taxes. RSU grants are acquisitions but are subject to future vesting — they do not represent immediately liquid, vested shares unless and until vesting conditions are met.