Company: RNST
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0000715072-25-000085
Chunk: 54

Company: RENASANT CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 54
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 incurred in 2024 in connection with the insurance agency sale and the FBMS merger and the impact of its stock offering completed contemporaneously with its announcement of the FBMS merger. The committee determined that adjustments to these performance results were appropriate to more accurately assess management’s performance in 2024. The following tables provide more detail about the adjustments the committee made to our 2024 results to determine PBRP payouts.

| Diluted Earnings per Share (EPS)                           |     |                                                    |   |       |     |       |   |
|:-----------------------------------------------------------|:----|:---------------------------------------------------|:--|------:|:----|------:|:--|
| 2024 Actual EPS (GAAP)                                     |     |                                                    | $ |  3.27 |     |       |   |
| Adjustments related to the sale of the insurance agency(1) |     |                                                    |   | -0.68 |     |       |   |
| Merger and conversion related expenses(2)                  |     |                                                    |   |  0.20 |     |       |   |
| Net impact from capital stock offering(3)                  |     |                                                    |   |  0.12 |     |       |   |
| 2024 Adjusted EPS (non-GAAP)                               |     |                                                    | $ |  2.91 |     |       |   |
|                                                            |     | Percentage of Target Performance after adjustment: |   |       |     | 112.4 | % |

(1) Includes the gain on sale, interest earned on the investment of sale proceeds, and the loss of budgeted earnings for the period following the sale of the insurance agency’s business.

(2) Includes merger and conversion related expenses associated with both the sale of the insurance agency and the pending merger with FBMS.

(3) Includes the impact from the increase in diluted shares outstanding and interest earned on the investment of offering proceeds.

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| Efficiency Ratio                                           |     |                                                    |     |       |   |     |       |   |
| 2024 Actual efficiency ratio (GAAP)                        |     |                                                    |     | 63.57 | % |     |       |   |
| Adjustments related to the sale of the insurance agency(1) |     |                                                    |     |  5.20 |   |     |       |   |
| Merger and conversion related expenses(2)