Company: RNST
Filing Date: 2025-02-26
Form Type: PRE 14A
Source: 0000715072-25-000057
Chunk: 97

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: PRE 14A
Chunk 97
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 of a person seeking to obtain control of Renasant or to remove incumbent management.

The Authorized Shares Increase Amendment is not in response to any effort by an outside party to accumulate Renasant common stock, nor are we aware of any such effort. Further, it is not in response to any attempt to acquire control of Renasant, nor are we aware of any such attempt. The Authorized Shares Increase Amendment is not part of a plan by Renasant to adopt a series of anti-takeover measures nor do we have any present intention of proposing the adoption of anti-takeover measures in the future.

There are existing anti-takeover provisions included in our Articles of Incorporation and Bylaws, as summarized below:

• The Articles of Incorporation contain a “fair price” provision. This provision requires the approval by the holders of not less than 80% of our outstanding voting stock, and the approval of the holders of not less than 67% of our outstanding voting stock held by shareholders other than a “controlling party” (defined to mean a shareholder owning or controlling 20% or more of our outstanding voting stock at the time of the proposed transaction), of any merger, consolidation or sale or lease of all or substantially all of our assets involving the controlling party. For purposes of the fair price provisions, “substantially all” of our assets means assets having a fair market value or book value, whichever is greater, that is at least 25% of the value of our total assets, as set forth on a balance sheet that is as of a date no more than 45 days prior to the proposed transaction. The elevated approval requirements do not apply if (1) the proposed transaction is approved by a majority of our board of directors or (2) the consideration our shareholders will receive in the proposed transaction meets certain minimum price requirements set forth in the Articles of Incorporation. The “fair price” provision makes it more difficult for a third party to obtain approval of a business combination transaction.

• Under our Articles of Incorporation, the board of directors is authorized to issue, without any further approval from our shareholders, a series of preferred stock with the designations, preferences and relative participating, optional or other special rights, and the qualifications, limitations or restrictions, as the board determines in its discretion. This authorization may operate to provide anti-takeover protection because, in the event of a proposed merger, tender offer or other attempt to gain control of us that the board of directors does not believe is in our or our shareholders’ best interests