{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-000803","form_type":"8-K","ticker":"SPFI","cik":"0001163668","company_name":"SOUTH PLAINS FINANCIAL, INC.","filed_at":"2023-01-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:44.008308+00:00","generated_at":"2026-06-20T18:36:56.958209+00:00","sec_items":["8.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"confidence":"high","headline":"South Plains Financial terminates ESOP effective Dec 31, 2022","bullets":["Board terminated the Employee Stock Ownership Plan (ESOP) effective December 31, 2022.","Reason: ESOP no longer serves intended purpose; administrative costs exceed benefits.","All participants become fully vested regardless of prior vesting status.","Assets to be distributed in lump sum cash and Company stock; accounts >$1,000 without consent go to IRA.","Accounts ≤$10,000 may receive lump sum cash if participant elects."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-000803","json":"https://secwatch.observer/filing/0001140361-23-000803.json","markdown":"https://secwatch.observer/filing/0001140361-23-000803.md","text":"https://secwatch.observer/filing/0001140361-23-000803.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1163668/000114036123000803/0001140361-23-000803-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1163668/000114036123000803/brhc10046408_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T18:36:56.958209+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}