Company: SFNC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001174947-25-000476
Chunk: 53

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 53
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9 as well as any additional income and employment taxes resulting from such reimbursement. Code Section 4999 imposes a 20% non -deductibleexcise tax on the recipient of an “excess parachute payment” and Code Section 280G disallows the tax deduction to the payor of any amount of an excess parachute payment that is contingent on a change in control. A payment as a result of a change in control must exceed three times the executive’s base amount in order to be considered an excess parachute payment, and then the excise tax is imposed on the parachute payments that exceed the executive’s base amount. The intent of the tax gross -upis to provide a benefit without a tax penalty to the executive who is displaced in the event of a change in control. The Company believes the provision of tax protection for excess parachute payments for one of its named executive officers is consistent with the historic market practice within the banking industry, is a valuable incentive in retaining executives and is consistent with the objectives of the Company’s overall executive compensation program (as previously discussed, though, the Company no longer provides for “gross -up” payments in new change in control agreements). Summary In summary, the Company believes this mix of salary, cash incentives for short -termfinancial and strategic performance, and equity -basedcompensation for long -termperformance motivates the Company’s management team to produce strong returns for shareholders. Further, in the view of the Compensation Committee, the overall compensation program appropriately balances the interests and needs of the Company in operating its business with appropriate employee rewards based on enhancing shareholder value. Compensation Committee Report The Compensation Committee reviewed and discussed the Compensation Discussion and Analysis included in this Proxy Statement with management. Based on such review and discussion, the Compensation Committee recommended to the Board that the Compensation Discussion and Analysis be included in this Proxy Statement for filing with the U.S. Securities and Exchange Commission. Submitted by the Compensation Committee of the Board of Directors.

| Susan Lanigan, Chair |     | Robert L. Shoptaw |     | Steven A. Cossé |
| Jerry Hunter         |     | Mindy West        |     |                 |

35 RELATIONSHIP OF COMPENSATION POLICIES AND PRACTICES TO RISK MANAGEMENT The Company intends that total compensation and each of its components, including base salary, bonus, incentive compensation (if applicable), retirement and other benefits should be market competitive and consistent with the Company’s performance goals. The Company seeks to attract, retain, develop and reward high performing associates who are committed to the Company