Company: RNST
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0000715072-25-000085
Chunk: 99

Company: RENASANT CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 99
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 DEER, CONNIE L. ENGEL, NEAL A. HOLLAND, JR., JONATHAN A. LEVY, RENEE MOORE, E. ROBINSON MCGRAW, TED E. PARKER, SEAN M. SUGGS AND C. MITCHELL WAYCASTER AS DIRECTORS TO THE BOARD OF DIRECTORS. |

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Proposal 2 - Amendment to the Articles of Incorporation to Increase the Number of Shares of Renasant Common Stock Authorized for Issuance

Background. Our Articles of Incorporation currently authorize the issuance of up to 150,000,000 shares of common stock, as well as 5,000,000 shares of preferred stock. At the annual meeting, we are asking our shareholders to approve and adopt a proposal to amend our Articles of Incorporation to increase the number of shares of common stock we are authorized to issue from 150,000,000 shares to 250,000,000 shares, which we refer to as the “Authorized Shares Increase Amendment.” At its January 2025 board meeting, the board unanimously approved, and unanimously recommended that our shareholders approve, the Authorized Shares Increase Amendment.

The Authorized Shares Increase Amendment, if approved, will amend Article Fourth of the Articles of Incorporation by replacing “One Hundred Fifty Million (150,000,000)” with “Two Hundred Fifty Million (250,000,000).” The full text of the Authorized Shares Increase Amendment is attached as Appendix B-1 to this proxy statement.

The Authorized Shares Increase Amendment will not become effective until Articles of Amendment are filed with the Secretary of State of Mississippi. If the Authorized Shares Increase Amendment is approved, we intend to make this filing promptly after the annual meeting (and, if the Director Exculpation Amendment is also approved, the Articles of Amendment will also include the amendment to the Articles of Incorporation contemplated by the Director Exculpation Amendment).

We are not proposing to make any changes to the number of authorized shares of our preferred stock.

Reason for the Increase in the Number of Authorized Shares of Common Stock. As of March 6, 2025, 150,000,000 shares of common stock were authorized for issuance, 63,733,221 shares of common stock were outstanding and an additional 2,171,233 shares were reserved for future grants and awards under the LTIP and our other employee benefit plans. In addition, we expect to issue approximately 31,251,167