Company: SFNC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001174947-25-000476
Chunk: 32

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 32
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 Bank Group, Inc. (IBTX)      |     | Old National Bancorp (ONB)                  |
| Pinnacle Financial Partners, Inc. (PNFP) |     | Prosperity Bancshares, Inc. (PB)            |
| Renasant Corp. (RNST)                    |     | SouthState Corporation (SSB)                |
| Synovus Financial Corp. (SNV)            |     | Trustmark Corp. (TRMK)                      |
| UMB Financial Corp. (UMBF)               |     | United Community Banks, Inc. (UCBI)         |

The Committee believes the peer group was indicative of the market in which the Company competed for the employment and retention of executive management in 2024, as such institutions were of similar size and had similar numbers of employees, product offerings and geographic scope. The executive salary and incentive programs are generally targeted to the peer group median for each compensation category in order to be competitive in the market. In cases where an executive’s experiences, scope of responsibilities, or performance warrant, the Company may exceed the peer group median. The Company’s incentive programs are analyzed with similar programs of the peer group. The incentive programs are designed for the emphasis of performance -basedcompensation. The Committee attempts to make compensation decisions consistent with the foregoing objectives and considerations, including, in particular, market levels of compensation necessary to attract, retain, and motivate the executive officers. Therefore, the aggregate wealth accumulated or realizable by an executive from past compensation grants is considered but not determinative in setting compensation or making additional grants. Decisions Regarding Composition of Total Direct Compensation The Company’s executive compensation program consists of a mix of separate components that seek to align the executives’ incentives with increasing shareholder value. For 2024, the Company’s executive incentive compensation program included both non -equityand equity incentive compensation (except in the cases of George Makris, Jr., the Company’s executive chairman during 2024, whose incentive compensation program for 2024 included only equity incentive compensation, and Christopher Van Steenberg, the Company’s chief operating officer, who, due to the timing of his hiring in November 2024, did not participate in any incentive compensation program for 2024). The Company established target allocations of non -equityincentive compensation for participating executive officers. For 2024, for the CEO, the Board set a target allocation of potential non -equityincentive compensation at 100% of salary. For all participating executive officers other than the