Company: RNST
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0000715072-25-000085
Chunk: 100

Company: RENASANT CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 100
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 shares of our common stock in connection with the completion of the FBMS merger. Therefore, following the completion of the FBMS merger, approximately 52,844,379 shares of our common stock will remain available for issuance.

Renasant has no present plan, agreement or understanding involving the issuance of its common stock, except for shares to be issued in the FBMS merger and shares required or permitted to be issued under the LTIP and other employee benefit plans (and, as the information in the previous paragraph shows, Renasant does not need to increase its authorized shares to cover shares issuable in the FBMS merger or reserved under the LTIP). However, the board believes that it is in the best interests of Renasant and its shareholders to have a sufficient number of shares of common stock authorized to give us the flexibility to issue shares of common stock in connection with future stock dividends, public and private equity financings, mergers and other expansion opportunities as well as for general corporate purposes. The board has determined that the number of authorized shares of common stock currently available for issuance may not be sufficient for our future needs. Increasing the number of authorized shares now will avoid the potential delays and expense of calling and holding a special meeting of shareholders at a later date to approve an increase in the number of authorized shares, which could result in Renasant not being able to take advantage of a potential opportunity. The board believes that the increased number of authorized shares will enhance our ability to promptly respond to acquisition, financing and other opportunities.

Effects of the Proposal. The approval of the Authorized Shares Increase Amendment will result in an additional 100,000,000 shares of common stock being available for issuance. Authorized but unissued shares of Renasant’s common stock, including shares of common stock covered by this proposal, are issuable at such times, for such purposes and for such consideration (cash or otherwise) as the board of directors may determine to be appropriate without further authority from or approval by our shareholders, except as may be required by applicable law, rules or regulations and the NYSE Listing Rules. For example, both the Mississippi Business Corporation Act (the “MBCA”) and the NYSE Listing Rules require prior shareholder approval of a share issuance in connection with merger where the number of shares proposed to be issued would exceed 20% of Renasant’s voting power immediately prior to the merger.

The additional shares of Renasant common stock authorized by the Authorized Shares Increase Amendment will be part of the existing class of our common stock and thus will have the same rights and privileges