Company: RNST
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000715072-25-000234
Chunk: 178

Company: RENASANT CORP
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 8
Chunk 178
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 other officers and employees and time-based restricted stock to non-employee directors, executives, and other officers and employees.  The following table summarizes the changes in restricted stock as of and for the nine months ended September 30, 2025:Performance-Based Restricted StockWeighted Average  Grant-Date Fair ValueTime-Based Restricted StockWeighted Average  Grant-Date Fair ValueNonvested at beginning of period203,115 $34.32 801,181 $35.08 Awarded75,644 36.17 343,814 35.26 Vested— — (273,993)36.46 Cancelled— — (11,401)35.18 Nonvested at end of period278,759 $34.82 859,601 $34.71 The First maintained a long-term equity compensation plan, and awards outstanding as of the date of the merger were converted into adjusted restricted stock awards in respect to Renasant common stock, subject to the same terms and conditions.The following table summarizes the changes in converted restricted stock as of September 30, 2025:Time-Based Restricted StockWeighted Average  Grant-Date Fair ValueNonvested at beginning of period— $— Awarded (converted)426,321 33.93 Vested(68,433)33.93 Cancelled— — Nonvested at end of period357,888 $33.93 During the nine months ended September 30, 2025, the Company reissued 209,869 shares from treasury in connection with awards of restricted stock. The Company recorded total stock-based compensation expense of $5,443 and $3,273 for the three months ended September 30, 2025 and 2024, respectively, and $13,527 and $10,639 for the nine months ended September 30, 2025 and 2024, respectively.There were no stock options granted or outstanding, nor compensation expense associated with options recorded, during the nine months ended September 30, 2025 or 2024.

Note 10 – Derivative Instruments

(In Thousands)The Company uses certain derivative instruments to meet the needs of customers as well as to manage the interest rate risk associated with certain transactions.Non-hedge derivativesThe Company enters into derivative instruments that are not designated as hedging instruments to help its commercial customers manage their exposure to interest rate fluctuations (which are included within the “interest rate contracts”