This is the appropriately formatted SPL search because it follows the SPL syntax rules12, such as:

Using the = operator to specify field-value pairs, such as index=security and sourcetype=linux.

Using the OR operator to combine multiple values for the same field, such as (invalid OR failed).

Using the | character to separate commands, such as stats count as "Potential Issues".

Using the as keyword to rename fields, such as count as "Potential Issues".