Company: RNST
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0000715072-25-000085
Chunk: 104

Company: RENASANT CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 104
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 it perceived to be the advantages and disadvantages of a director exculpation clause, the views of corporate governance commentators and others with respect to director exculpation clauses and the practices among financial institutions that we view as our peers.

The nominating committee recognized that the governing instruments of a large majority of public companies provide for exculpation of directors like the one we have proposed, and that such exculpation clauses have become a routine element of public companies’ corporate governance structures. The prevalence of director exculpation clauses extends to financial institutions: a substantial majority of the companies included in our 2024 compensation peer group have adopted director exculpation clauses.

The nominating committee believes director exculpation clauses help ensure that concerns about potential exposure to personal liability will not adversely impact an individual’s decision to serve as a Renasant director or the willingness of our directors to make difficult, potentially value-maximizing business decisions that are necessary in a highly competitive environment. The nominating committee determined that a director exculpation clause will allow our directors to more effectively fulfill their role on behalf of shareholders. The frequency of litigation and the substantial costs associated with defending claims against directors, regardless of the merit of the claims, was also noted.

Based on this review and its conclusions, the nominating committee determined that the addition of a director exculpation clause in the Articles of Incorporation is in the best interests of Renasant and its shareholders and, accordingly, recommended that the board approve the Director Exculpation Amendment.

Required Vote. The approval of the Director Exculpation Amendment requires the affirmative vote of majority of the votes cast at the annual meeting. Abstentions and broker non-votes will not be counted as votes cast for or against the proposal.

The Director Exculpation Amendment and the Authorized Shares Increase Amendment, discussed immediately above, are separate proposals, and whether our shareholders approve the Authorized Shares Increase Amendment or not will have no effect on the approval of the Director Exculpation Amendment.

| OUR BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE AMENDMENT TO THE ARTICLES OF INCORPORATION TO ELIMINATE THE PERSONAL LIABILITY OF RENASANT DIRECTORS. |

Proposal 4 - Advisory Vote on Executive Compensation

Advisory Vote. Our board is seeking non-binding advisory shareholder approval of the compensation we pay to our named executive officers. This vote, called “say-on-pay,” is required by the Dodd