Company: SFNC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001174947-25-000476
Chunk: 46

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 46
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 terms of the 401(k) Plan, employees may defer a portion of their eligible pay, up to the maximum allowed by I.R.S. regulation, and the Company matches 100% of the first 3% of eligible compensation and 50% of the next 2% of eligible compensation for a total match of 4% of eligible pay for each participant who defers 5% or more of his or her eligible pay. Additionally, for 2024, the Compensation Committee approved a discretionary contribution of 2.56% of aggregate associate compensation into the 401(k) Plan based upon the Company’s performance, which was made in the first quarter of 2025. Account balances under the 401(k) Plan are fully vested at all times. Additionally, under the current Simmons First National Corporation Second Amended and Restated 2015 Employee Stock Purchase Plan, the Company offers a convenient method for eligible employees of the Company and its subsidiaries to purchase shares of Common Stock at a favorable price through payroll deductions. C. Perquisites and Other Benefits Historically, perquisites and other benefits have represented a small part of the overall compensation package and generally are offered only after consideration of business need. The Compensation Committee reviews the perquisites and other personal benefits that are provided to senior management. The primary perquisites include cell phone stipends, club memberships, and certain relocation and moving expenses. In some cases, the Company, rather than (or in addition to) administering separate perquisite programs for particular officers, will provide a cash stipend to an executive officer to cover the approximate costs of such items. The stipends are taxable income to the officers who receive them and are generally uniform in amount for officers with similar duties and responsibilities.

31 The Company’s bank subsidiary, Simmons Bank, maintains the Simmons Bank Endorsement Split -DollarLife Insurance Plan (“Split -DollarPlan”) under which, among other things, Simmons Bank maintains life insurance on the lives of certain officers and provides, subject to certain terms and conditions set forth in the Split -DollarPlan, a defined, lump sum life insurance benefit upon the death of the officer to such officer’s designated beneficiary, surviving spouse, or estate. Each of the named executive officers are current participants in the Split -DollarPlan. The Company also permits executive officers (and directors) to use Company aircraft for personal purposes, provided that those executives (and directors) reimburse the Company for the Company’s incremental cost of such use (with certain exceptions). All executive officers and directors who used