Company: RNST
Filing Date: 2025-02-26
Form Type: PRE 14A
Source: 0000715072-25-000057
Chunk: 78

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: PRE 14A
Chunk 78
---
 of our common stock, (2) the sale of all or substantially all of our assets, (3) a merger in which we are not the surviving entity or (4) a change in a majority of the members of our board of directors that occurs within a specified period. Our employment agreements provide for the following cash payments in the event of a change in control:

|                                      |     | Messrs. Waycaster, McGraw and Chapman                                                                         |     | Mr. Mabry                                                                                                    |     | Mr. Perry                                                                                                    |
| Cash Payment                         |     | 2.99 X the sum of (1) base salary and (2) average bonus paid during the two years preceding change in control |     | 2.5 X the sum of (1) base salary and (2) average bonus paid during the two years preceding change in control |     | 2.0 X the sum of (1) base salary and (2) average bonus paid during the two years preceding change in control |
| COBRA continuation coverage premiums |     | Maximum of 18 months for each executive and his eligible dependents                                           |     |                                                                                                              |     |                                                                                                              |
| Tax Gross Up                         |     | No tax gross ups are available                                                                                |     |                                                                                                              |     |                                                                                                              |

Excess compensation payable on account of a change in control may constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code, referred to as “Section 280G.” Parachute payments subject the recipient to a 20% excise tax and cause the loss of our federal income tax deduction. Our named executives are all subject to cutback provisions that reduce any compensation due on account of a change in control to the extent necessary to avoid the imposition of the excise tax and the loss of our deduction.

In addition to the cash payments described above, our LTIP provides with respect to restricted stock awards that (1) performance measures will be deemed satisfied at the target level and (2) all awards will vest as scheduled, with accelerated vesting applicable only in the event of involuntary termination without cause or a constructive termination, either occurring within the 24-month period following a change in control.

Expiration of Employment Agreement. The employment agreements with each of our named executives will expire when either party gives timely notice to the other that the agreement will not be renewed. As described below, agreements with our named executives may provide for the payment of compensation in the event of expiration.

•