Company: RNST
Filing Date: 2025-02-26
Form Type: PRE 14A
Source: 0000715072-25-000057
Chunk: 15

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: PRE 14A
Chunk 15
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 above, in calculating the average tenure, a newly-elected director is considered to have a term of zero years. As of Renasant’s 2021 and 2023 annual meetings, there were 12 non-employee directors on the board; there were 11 non-employee directors as of the 2022 and 2024 annual meetings. Assuming we complete the FBMS merger prior to the 2025 Annual Meeting, there will be 14 non-employee directors as of the date of such meeting (and 11 non-employee directors, with an average tenure of 14.0 years, if we have not completed the FBMS merger as of the date of the meeting).

Of the 11 non-employee directors currently serving on the board, as of the 2025 Annual Meeting two will have served on the board for six years or fewer, four will have served for between six and 15 years, and five will have served for over 15 years. Upon completion of the FBMS merger, we will add three non-employee directors, increasing to five the number of directors who have served on the board for six years or fewer.

Our nominating committee monitors the make-up of the board and directors’ intentions about their continued board service to ensure that, if a director intends to retire or otherwise resign from the board, a suitable replacement can be identified in a timely manner. Further, as discussed below, the nominating committee annually assesses the performance of our directors. If a director’s performance is found to need improvement or otherwise is lacking, the nominating committee may counsel the director on the need for improvement and/or determine to not re-nominate the director for election when his or her term expires.

Meetings. Our board held 14 meetings in 2024, one of which was part of the board’s annual three-day strategic planning retreat (the elevated number of meetings, as compared to prior years, is a result of board meetings relating to the sale of our insurance agency business, the FBMS merger and our July common stock offering). All directors attended at least 75% of the total number of board meetings and meetings of the committees on which they served. The members of the board who meet the NYSE’s standards for independent directors set forth in Section 303A.02 of the NYSE’s Listed Company Manual met in executive session (that is, a meeting of only directors who are independent directors) six times during 2024. Mr. Creekmore, our “lead director” (see “