Company: SFNC
Filing Date: 2025-04-03
Form Type: DEFR14A
Source: 0001174947-25-000480
Chunk: 38

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-04-03
Form: DEFR14A
Chunk 38
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 primarily including branch rightsizing costs, early retirement program costs, gain/loss on sale of securities, and FDIC special assessment) less “net charge -offs”. For the participating named executive officers, this component was allocated 35% of the participant’s targeted CIP benefit. The performance levels for 2024 were set by the Compensation Committee considering 2023 results and the Company’s budget for 2024. The PPNR target was set at $214,000,000, with a landing zone around the target from $205,000,000 to $222,000,000. The threshold level was set at $192,000,000, and the maximum was set at $235,000,000. If 2024 PPNR was below the threshold, there would be no PPNR entitlement (absent the exercise of Committee discretion). The Committee certified $215,204,867 as the PPNR performance for 2024, which exceeded the target and was within the landing zone, and thus, provided a benefit of 102% of the allocated target benefit for this component. The ER component was based upon the Company’s adjusted efficiency ratio for 2024. “Adjusted efficiency ratio” means non -interestexpense (excluding non -recurringitems, foreclosed property expense, amortization of intangibles and goodwill impairments) divided by the sum of net interest income (fully taxable equivalent) plus non -interestrevenues (excluding gains from securities and non -recurringitems). For the participating named executive officers, this component was allocated 35% of the participant’s targeted CIP benefit. The Committee established a Threshold, Target, and Maximum for the ER of the Company. The performance levels for 2024 were set by the Compensation Committee based upon the Company’s internal operating goals and 2024 budget. The ER target was set at 65%, with a landing zone around the target from 66% to 64%. The threshold level was set at 69%, and the maximum was set at 61%. If 2024 ER did not meet the threshold, there would be no ER entitlement (absent the exercise of Committee discretion). The Committee certified 64.59% as the ER for 2024, which exceeded the target performance and was within the landing zone, and thus, provided a benefit of approximately 104% of the allocated target benefit for this component. The strategic performance component was based upon the Company’s business operating plan objectives for 2024. For the