Company: SFNC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001174947-25-000476
Chunk: 47

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 47
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 the Company aircraft for personal purposes during 2024 reimbursed the Company for the Company’s incremental cost of such use. D. Post-Termination Compensation Deferred Compensation Arrangements. In 2024, the Company maintained certain non -qualifieddeferred compensation arrangements designed to provide supplemental retirement pay from the Company to certain of the executive officers. Each of the named executive officers had such agreements with the Company during 2024. The Deferred Compensation Agreements are non -qualifieddefined benefit type plans. The Company bears the entire cost of benefits under these agreements. The Company provides these retirement benefits in order to attract and retain executives. The amounts payable to the participants under these agreements are determined by each agreement’s benefit formula, which is described in the section of this proxy statement titled “Pension Benefits Table.” Additionally, in 2017, the Company adopted the Simmons First National Corporation Deferred Compensation Plan (“NQDC Plan”). The NQDC Plan is as a non -qualifieddeferred compensation plan in the form of an excess contribution plan primarily open to executive officers and other highly compensated individuals whose compensation exceeds the annual tax code limit on compensation that can be taken into account for purposes of contributions to the Company’s 401(k) Plan. Under the NQDC Plan, participants may make contributions of up to 90% of Plan Compensation on a nonqualified basis. The Company’s matching contribution under the plan is limited to 4% of Excess Compensation, provided the executive officer has elected a deferral rate on Excess Compensation of at least 5% for the year. “Plan Compensation” includes base salary, bonus, commissions and cash incentive pay; and “Excess Compensation” is the amount of Plan Compensation that exceeds the compensation limits under the federal tax laws applicable to qualified retirement plans. Additionally, for 2024, the Compensation Committee approved a discretionary contribution of 2.56% of participating associates’ eligible compensation into the NQDC Plan based upon the Company’s performance, which was made in the first quarter of 2025. The NQDC Plan provides for discretionary non -electiveCompany contributions to the accounts of the participants as well. Benefits under the NQDC Plan are fully vested at all times and are payable only upon separation from service in accordance with a 409A compliant distribution election made by the executive officer upon election to participate in the plan. Change in Control Agreements. The Company has entered into Change in Control Agreements (“CIC Agreements”) with certain members of senior management of the Company and its