South Plains Financial adopts amended bylaws with 3% derivative threshold and Texas forum

SOUTH PLAINS FINANCIAL, INC.

Derivative proceeding ownership threshold set at 3% of issued and outstanding shares.
Exclusive forum for internal entity claims: Texas Business Court, Ninth Division, with fallbacks.
Waiver of jury trial added for internal entity claims as defined under TBOC.
Changes align with recent amendments to the Texas Business Organizations Code.
Amended bylaws effective August 20, 2025; prior bylaws from October 2021 superseded.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

SOUTH PLAINS FINANCIAL, INC.: Adopted Third Amended and Restated Bylaws to implement recent legislative changes to the Texas Business Organizations Code, including new ownership threshold for derivative proceedings, election to be governed by TBOC Section 21.419, exclusive forum for internal entity claims, and waiver of jury tri (effective 2025-08-20).

Change: bylaw amendment
Effective: 2025-08-20

Exact text from the filing

On August 20, 2025, the Board of Directors (the “Board”) of South Plains Financial, Inc., a Texas corporation (the “Company”), approved and adopted the Third Amended and Restated Bylaws of the Company (the “Amended Bylaws”), effective immediately.

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SOUTH PLAINS FINANCIAL, INC. filing history →

Source: SEC EDGAR

accession 0001140361-25-032756

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