Company: SFNC
Filing Date: 2025-04-03
Form Type: DEFR14A
Source: 0001174947-25-000480
Chunk: 43

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-04-03
Form: DEFR14A
Chunk 43
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. Please refer to the section below, “Other Guidelines and Procedures Affecting Executive Compensation” for additional information regarding the Company’s practices when granting stock options and RSUs. Performance of 2022 PSUs As previously described in the Company’s proxy statement for the Company’s 2023 annual shareholders’ meeting, as part of the LTIP established by the Compensation Committee in 2022, PSUs with a three -yearperformance period ending on December 31, 2024 (“2024 Performance Period”) were granted to each of the named executive officers except Mr. Hobbs (“2022 PSUs”). The performance criteria for the 2022 PSUs included the Company’s core return on average assets relative ranking for the 2024 Performance Period (“Core ROAA Ranking”), which was allocated a 30% weighting, the Company’s core return on tangible common equity relative ranking for the 2024 Performance Period (“Core ROTCE Ranking”), which was allocated a 35% weighting, and the Company’s TSR relative ranking for the 2024 Performance Period (“2024 TSR Ranking”), which was allocated a 35% weighting. Core ROAA means the Company’s core earnings (net income adjusted to exclude non -coreitems, including items related to the sale of branches, branch right sizing, the Company’s early retirement program, and merger -relatedcosts) divided by the average total assets for the period. Core ROTCE means the Company’s core earnings (net income adjusted to exclude non -coreitems, including items related to the sale of branches, branch right sizing, the Company’s early retirement program, and merger -relatedcosts) adjusted by the amortization of intangibles divided by the average common stockholders’ equity less the average intangible assets (goodwill and other intangibles) for the period. For each of the Core ROAA Ranking, Core ROTCE Ranking, and 2024 TSR Ranking, the threshold, target, and maximum performance levels were 25 thpercentile, 50 thpercentile, and 75 thpercentile, respectively. The Committee certified Core ROAA Ranking attainment at approximately the 12 thpercentile, which was below the threshold performance level; Core ROTCE Ranking attainment at approximately the 16 thpercentile, which was below the threshold performance level; and 2024 TSR Ranking attainment at approximately the 10 thpercentile, which was below the threshold performance level. Thus, the aggregate payout (taking into account the weightings of the performance criteria) for the