SOUTH PLAINS FINANCIAL, INC. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities. Market Information for Common Stock The Company’s common stock is traded on the Nasdaq Global Select Market. Quotations of the sales volume and the closing sales prices of the Company’s common stock are listed daily under the symbol “SPFI” in Nasdaq’s listings. Holders of Record As of March 3, 2026, there were approximately 192 holders of record of the Company’s common stock. Dividends The Company paid a dividend of $0.15 per common share in the first and second quarters of 2025, and a dividend of $0.16 per common share in the third and fourth quarters of 2025. Additionally, the Company paid a dividend of $0.17 per common share in the first quarter of 2026. Also, see “Item 1. Business – Supervision and Regulation – Dividend Payments, Stock Redemptions and Repurchases” and “Item 7. Management’s Discussion and Analysis of the Financial Condition and Results of Operations – Liquidity and Capital Resources – Capital Requirements” of this Report for restrictions on our present or future ability to pay dividends, particularly those restrictions arising under federal and state banking laws. 38 Table of Contents Securities Authorized for Issuance Under Equity Compensation Plans The following table sets forth information at December 31, 2025 with respect to compensation plans under which shares of our common stock may be issued. Plan Category Number of Shares to be Issued Upon Exercise of Outstanding Awards Weighted-Average Exercise Price of Outstanding Awards Number of Shares Available for Future Grants Equity compensation plans approved by shareholders (1) 1,296,349 $ 18.92 2,803,344 Equity compensation plans not approved by shareholders — — — Total 1,296,349 $ 18.92 2,803,344 (1) The number of shares available for future issuance includes 2,803,344 shares available under the Company’s 2019 Equity Incentive Plan (which allows for the issuance of options, as well as various other stock-based awards). Issuer Purchases of Securities On February 21, 2024, the Company’s board of directors approved a stock repurchase program pursuant to which the Company may, from time to time, purchase up to $10.0 million of its outstanding shares of common stock (the “Program”). Upon the expiration of the Program, on February 21, 2025, the Company’s board of directors approved a new stock repurchase program pursuant to which the Company may, from time to time, purchase up to $15.0 million of its outstanding shares of common stock (the “New Program”). The shares can be repurchased from time to time under the New Program in privately negotiated transactions or the open market, including pursuant to Rule 10b5-1 trading plans, and in accordance with applicable regulations of the SEC. The Company was not obligated to purchase any shares of its common stock under the Program or the New Program and the timing and exact amount of any repurchases depends on various factors including, the performance of the Company’s stock price, general market and other conditions, regulatory requirements, availability of funds and other relevant considerations, as determined by the Company. The following table summarizes the share repurchase activity for the three months ended December 31, 2025. Total Shares Repurchased Average Price Paid Per Share Total Dollar Amount Purchased Pursuant to Publicly-Announced Plans Maximum Dollar Amount Remaining Available for Repurchase Pursuant to Publicly-Announced Plans October 2025 — $ — $ — $ 8,659,477 November 2025 — — — — December 2025 — — — — Total — Stock Performance Graph The following performance graph compares total stockholders’ return on the Company’s common stock with the cumulative total return of the S&P 500 and the S&P United States BMI Banks Index measured at the last trading date of each year shown below. Cumulative total return is computed by dividing the difference between the Company’s share price at the end and the beginning of the measurement period by the share price at the beginning of the measurement period. The performance graph assumes $100 is invested on December 31, 2019, in the Company’s common stock, including reinvestment of any dividends, and each of the indices. Historical stock price performance is not necessarily indicative of future stock price performance. This performance graph and related information shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Exchange Act of 1934, or incorporated by reference into any future SEC filing, except as shall be expressly set forth by specific reference in such filing. 39 Table of Contents Dollars 2020 2021 2022 2023 2024 2025 South Plains Financial, Inc. $ 100.0 $ 148.68 $ 149.67 $ 160.74 $ 196.49 $ 223.17 S&P United States BMI Banks Index 100.0 135.97 112.77 123.02 164.70 211.47 S&P 500 100.0 128.71 105.40 133.10 166.40 196.16 Source: S&P Global Market Intelligence © 2026 Item 6. [Reserved]