Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses SPFI in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named SPFI in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Cory Newsom | $720,000 | $180,000 | $249,983 | $260,398 | $540,000 | $178,939 | $144,279 | $2,273,599 |
| President – (PEO) | ||||||||
| Curtis Griffith | 425,000 | 170,000 | 124,972 | 153,717 | 255,000 | 0 | 104,090 | 1,232,779 |
| Chairman of the Board and CEO | ||||||||
| Steven Crockett | 375,000 | 45,000 | 225,187 | 0 | 180,000 | 59,740 | 60,976 | 945,903 |
| CFO – (PFO) | ||||||||
| Paul Ehlers | 313,635 | 28,227 | 96,891 | 0 | 112,909 | 20,170 | 56,963 | 628,795 |
| Bank COO | ||||||||
| Brent Bates | 313,635 | 28,227 | 96,891 | 0 | 112,909 | 17,716 | 34,869 | 604,247 |
| Bank CCO | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Cory Newsom | $2,273,599 | $2,070,123 | $1,857,036 | +203,476 |
| Curtis Griffith | 1,232,779 | 1,157,251 | 1,153,312 | +75,528 |
| Steven Crockett | 945,903 | 865,264 | 900,445 | +80,639 |
| Paul Ehlers | 628,795 | 607,640 | — | +21,155 |
| Brent Bates | 604,247 | 585,130 | — | +19,117 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| James D. Stein | Director | 2026-05-08 | D | 4,936 | $40 | $197,736 | Common | Form 4 ↗ |
| James D. Stein | Director | 2026-05-08 | D | 10,000 | 40 | 403,800 | Common | Form 4 ↗ |
| James D. Stein | Director | 2026-05-18 | D | 1,560 | 40 | 62,509 | Common | Form 4 ↗ |
| James D. Stein | Director | 2026-05-18 | D | 13,504 | 40 | 540,295 | Common | Form 4 ↗ |
| LaDana R. Washburn | Director | 2026-05-20 | A | 623 | 0 | 0 | Common | Form 4 ↗ |
| Kyle R. Wargo | Director | 2026-05-20 | A | 623 | 0 | 0 | Common | Form 4 ↗ |
| Noe G. Valles | Director | 2026-05-20 | A | 623 | 0 | 0 | Common | Form 4 ↗ |
| Noe G. Valles | Director | 2026-05-20 | A | 623 | 0 | 0 | Common | Form 4 ↗ |
| Richard D. Campbell | Director | 2026-05-20 | A | 623 | 0 | 0 | Common | Form 4 ↗ |
| Curtis C. Griffith | Director | 2026-06-18 | D | 300,000 | 41 | 12,417,000 | Common | Form 4 ↗ |
| James D. Stein | Director | 2026-07-28 | D | 70,000 | 44 | 3,105,200 | Common | Form 4 ↗ |
| James D. Stein | Director | 2026-07-28 | D | 30,000 | 45 | 1,349,100 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Cory Newsom | OPTION | 2025-01-03 | — | — | 18,880 | — | $251,991 |
| Steven Crockett | RSU | 2025-02-19 | — | — | 6,197 | — | 217,948 |
| Curtis Griffith | RSU | 2025-01-03 | — | — | 3,675 | — | 124,987 |
| Brent Bates | RSU | 2025-02-19 | — | — | 2,675 | — | 94,080 |
| Cory Newsom | RSU | 2025-01-03 | — | — | 7,350 | — | 249,974 |
| Curtis Griffith | OPTION | 2025-01-03 | — | — | 11,144 | — | 148,739 |
| Paul Ehlers | RSU | 2025-02-19 | — | — | 2,675 | — | 94,080 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Cory Newsom | $249,974 | $0 | $251,991 | 0.0% |
| Steven Crockett | 217,948 | 0 | 0 | 0.0% |
| Curtis Griffith | 124,987 | 0 | 148,739 | 0.0% |
| Brent Bates | 94,080 | 0 | 0 | 0.0% |
| Paul Ehlers | 94,080 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Curtis Griffith | Option | 6,567 | 29.32 | — |
| Brent Bates | PSU | 2,675 | — | 103,790 |
| Steven Crockett | PSU | 3,907 | — | 151,592 |
| Curtis Griffith | Option | 11,144 | 34.01 | — |
| Paul Ehlers | PSU | 2,615 | — | 101,462 |
| Curtis Griffith | Option | 3,673 | 27.53 | — |
| Cory Newsom | Option | 5,785 | 27.53 | — |
| Steven Crockett | Option | 2,713 | 29.19 | — |
| Cory Newsom | Option | 10,343 | 29.32 | — |
| Brent Bates | PSU | 1,595 | — | 61,886 |
| Cory Newsom | PSU | 7,350 | — | 285,180 |
| Steven Crockett | PSU | 4,264 | — | 165,443 |
| Curtis Griffith | PSU | 3,675 | — | 142,590 |
| Brent Bates | PSU | 2,615 | — | 101,462 |
| Cory Newsom | Option | 18,880 | 34.01 | — |
| Steven Crockett | Option | 6,449 | 27.27 | — |
| Paul Ehlers | PSU | 2,675 | — | 103,790 |
| Steven Crockett | PSU | 1,933 | — | 75,000 |
| Paul Ehlers | PSU | 1,595 | — | 61,886 |
| Paul Ehlers | PSU | 745 | — | 28,906 |
| Brent Bates | PSU | 707 | — | 27,432 |
| Cory Newsom | Option | 438 | 29.46 | — |
| Curtis Griffith | Option | 278 | 29.46 | — |
We review, evaluate and modify our compensation framework in an effort to maintain a competitive total compensation package to attract and retain highly qualified executives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | not disclosed |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-11 | 10,752,825 | 757,446 | 90,196 | 92.69% | Passed |
| 2025 | 2025-05-20 | 11,228,979 | 470,753 | 90,930 | 95.24% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-11 | 92.69%a |
| 2025 | 2025-05-20 | 95.24%b |
a. Approved under the standard stated in the filing — “Abstentions with respect to the Say on Pay Proposal (Proposal 3) will have the same effect as a vote against the proposal.”.
b. Approved under the standard stated in the filing — “Abstentions with respect to the Say on Pay Proposal (Proposal 3) and the Say on Frequency Proposal (Proposal 4) will have the same effect as a vote against the proposal.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 49 : 1 |
|---|---|
| CEO total compensation | $2,273,599 |
| Median employee compensation | $46,287 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Richard D. CampbellIndependent · Lead Independent Director · Compensation (Chair) · Audit · Nominating and Corporate Governance (Chair) | $98,250 | $24,967 | $0 | $0 | $18,846 | $142,063 |
| Kyle R. WargoIndependent · Audit (Chair) · Compensation · Nominating and Corporate Governance | 88,250 | 24,967 | 0 | 0 | 18,846 | 132,063 |
| LaDana R. WashburnIndependent · Compensation · Audit · Nominating and Corporate Governance | 83,250 | 24,967 | 0 | 0 | 18,886 | 127,103 |
| Noe G. VallesIndependent · Compensation · Audit · Nominating and Corporate Governance | 83,250 | 24,967 | 0 | 0 | 18,845 | 127,062 |
| Cory T. NewsomEmployee director | 0 | 0 | 0 | 0 | 0 | 0 |
| Curtis C. GriffithEmployee director · Board Chair | 0 | 0 | 0 | 0 | 0 | 0 |
| James D. SteinEmployee director · Partial-year service · Newly elected | 0 | 0 | 0 | 0 | 0 | 0 |
| Annual cash retainer | — |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $353,000 |
| Equity awards (grant-date value) | $99,868 |
| All other compensation | $75,423 |
| Total cost of the board | $528,291 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | South Plains Financial, Inc. | 2025 | Curtis Griffith | $425,000 | $124,972 | $153,717 | $255,000 | $1,232,779 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Cory Newsom | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Summary Compensation Table”. As printed: 2,273,599. Filing ↗machine: r5 · c27 · span 571357–571366 |
| 2 | Section 01, Curtis Griffith | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Summary Compensation Table”. As printed: 1,232,779. Filing ↗machine: r2 · c27 · span 556174–556183 |
| 3 | Section 01, Steven Crockett | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Summary Compensation Table”. As printed: 945,903. Filing ↗machine: r8 · c27 · span 585908–585915 |
| 4 | Section 01, Paul Ehlers | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Summary Compensation Table”. As printed: 628,795. Filing ↗machine: t83 · r13 · c27 · span 612064–612071 |
| 5 | Section 01, Brent Bates | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Summary Compensation Table”. As printed: 604,247. Filing ↗machine: t83 · r11 · c27 · span 601557–601564 |
| 6 | Section 03, Cory Newsom OPTION | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t95 · r8 · c31 · span 683318–683325 |
| 7 | Section 03, Steven Crockett RSU | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t95 · r10 · c31 · span 696230–696237 |
| 8 | Section 03, Curtis Griffith RSU | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t95 · r4 · c31 · span 660504–660511 |
| 9 | Section 03, Brent Bates RSU | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t95 · r12 · c31 · span 707522–707528 |
| 10 | Section 03, Cory Newsom RSU | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t95 · r7 · c31 · span 678041–678048 |
| 11 | Section 03, Curtis Griffith OPTION | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t95 · r5 · c31 · span 666688–666695 |
| 12 | Section 03, Paul Ehlers RSU | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t95 · r14 · c31 · span 720420–720426 |
| 13 | Section 07, pay ratio | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “CEO Pay Ratio”. As printed: 49 : 1. Filing ↗machine: span 1359405–1359407 |
| 14 | Section 08, Richard D. Campbell | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Director Compensation”. As printed: 142,063. Filing ↗machine: t153 · r2 · c21 · span 1374382–1374390 |
| 15 | Section 08, Kyle R. Wargo | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Director Compensation”. As printed: 132,063. Filing ↗machine: t153 · r4 · c21 · span 1382222–1382230 |
| 16 | Section 08, LaDana R. Washburn | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Director Compensation”. As printed: 127,103. Filing ↗machine: t153 · r5 · c21 · span 1385658–1385666 |
| 17 | Section 08, Noe G. Valles | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Director Compensation”. As printed: 127,062. Filing ↗machine: t153 · r3 · c21 · span 1378005–1378013 |
| 18 | Section 08, Cory T. Newsom | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 19 | Section 08, Curtis C. Griffith | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 20 | Section 08, James D. Stein | DEF 14A | 2026-04-06 | 0001140361-26-013355 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 21 | Section 02, James D. Stein 2026-05-08 | Form 4 | 2026-05-12 | 0002124082-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 22 | Section 02, James D. Stein 2026-05-08 | Form 4 | 2026-05-12 | 0002124082-26-000003 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 23 | Section 02, James D. Stein 2026-05-18 | Form 4 | 2026-05-20 | 0002124082-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 24 | Section 02, James D. Stein 2026-05-18 | Form 4 | 2026-05-20 | 0002124082-26-000004 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 25 | Section 02, LaDana R. Washburn 2026-05-20 | Form 4 | 2026-05-22 | 0002013365-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 26 | Section 02, Kyle R. Wargo 2026-05-20 | Form 4 | 2026-05-22 | 0001775291-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 27 | Section 02, Noe G. Valles 2026-05-20 | Form 4 | 2026-05-22 | 0001775289-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 28 | Section 02, Noe G. Valles 2026-05-20 | Form 4 | 2026-05-22 | 0001775289-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 29 | Section 02, Richard D. Campbell 2026-05-20 | Form 4 | 2026-05-22 | 0001774463-26-000001 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 30 | Section 02, Curtis C. Griffith 2026-06-18 | Form 4 | 2026-06-23 | 0001775195-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 31 | Section 02, James D. Stein 2026-07-28 | Form 4 | 2026-07-30 | 0002124082-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 32 | Section 02, James D. Stein 2026-07-28 | Form 4 | 2026-07-30 | 0002124082-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 06, 2026 vote | Form 8-K | 2026-05-14 | 0001140361-26-021350 | Item 5.07 · say-on-pay result. As reported: 92.69% (votes for as printed: 10,752,825). Filing ↗ |
| 34 | Section 06, 2025 vote | Form 8-K | 2025-05-23 | 0001140361-25-020347 | Item 5.07 · say-on-pay result. As reported: 95.24% (votes for as printed: 11,228,979). Filing ↗ |
| 35 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 36 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 37 | Section 09b board cost (computed) | Computed | — | computed | Cash 353,000 + equity 99,868 + all other 75,423 = 528,291, summed across the director compensation table rows.machine: formula: Σ = 528,291 |
| 38 | South Plains Financial, Inc. (subject), Section 10b CEO total | DEF 14A | 2026-04-06 | 0001140361-26-013355 | CEO total compensation as printed in South Plains Financial, Inc.'s own proxy. As printed: 1,232,779. Filing ↗machine: r2 · c27 · span 556174–556183 |