Company: RNST
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0000715072-25-000085
Chunk: 50

Company: RENASANT CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 50
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 the foregoing, the following table sets forth NEO base salaries set by the committee for 2024 as compared to base salaries in effect at the end of 2023:

|               |     | Base Salary 
 (2024)      |         |     | Base Salary 
 (2023)      |         |
|:--------------|:----|:------------|--------:|:----|:------------|--------:|
| Mr. Waycaster |     | $           | 765,000 |     | $           | 765,000 |
| Mr. Mabry     |     |             | 560,000 |     |             | 560,000 |
| Mr. McGraw    |     |             | 600,000 |     |             | 600,000 |
| Mr. Chapman   |     |             | 630,000 |     |             | 630,000 |
| Mr. Perry     |     |             | 490,000 |     |             | 490,000 |

#### Annual Performance-Based Cash Awards
Annual performance-based cash awards are made under the PBRP and are contingent on Company-wide performance. Payouts are based on threshold, target or superior levels of performance, expressed as a percentage of each executive’s base salary. There are no payouts under the PBRP for performance below threshold; maximum payouts are capped regardless of performance above the superior level. Potential payouts (as a percentage of base salary) at threshold, target and superior levels were maintained at the same levels in 2024 from the prior year. The compensation committee determined that these levels remained sufficient to provide the opportunity to increase annual cash compensation due to our performance. The committee also considered these percentages in light of budgeted earnings, profitability and operational efficiency for 2024, each of which was in line with investment analysts’ consensus estimates.

2024 PBRP Payout Opportunities

The alignment of Renasant’s budgeted results with consensus estimates indicated to the committee that Renasant’s budget still demanded a high level of performance from executive management even if the results were lower than Renasant’s actual performance for 2023. As a result, the committee, also cognizant of its decision not to increase base salaries for 2024, determined that it was not appropriate to lower PBRP payout percentages. The committee decided that lowering such payout percentages, in the context of flat base salaries, risked undermining the committee’s goal to incentivize management to achieve budgeted goals in a challenging economic environment