Company: RNST
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0000715072-25-000085
Chunk: 79

Company: RENASANT CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 79
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 are achieved, prorated to reflect the period of service during the applicable cycle. Mr. McGraw no longer receives performance-based restricted stock awards. Mr. Waycaster also no longer receives performance-based restricted stock awards, but prior performance-based restricted stock awards that remain outstanding at the time of his death or disability will be treated as described in the first sentence of this item.

• Each executive’s time-based restricted stock award will be prorated for service rendered before his death or disability and vest.

• Because they deferred income under grandfathered deferral plans, Messrs. Waycaster and McGraw will receive a preretirement death benefit from the Deferred Income Plan in the event either should die while employed by us.

Involuntary Termination Without Cause or Constructive Termination. Under our employment agreements with our named executives, other than Mr. McGraw, if a named executive is involuntarily terminated by us without cause or in the event of a constructive termination, he will receive the unconditional payments described above and:

• A cash payment equal to his annualized base salary for the remainder of the current term of the agreement, but not less than 12 months;

• His target bonus prorated to reflect service during the performance cycle and any bonus for a prior fiscal year that has not been paid;

• His performance-based restricted stock awards, which will be determined at the end of the applicable performance cycle based on actual performance, prorated to reflect service during the applicable cycle;

• His time-based restricted stock awards, which will be prorated to reflect service prior to his termination and vest; and

• Premiums for the continuation coverage available to him and his eligible dependents under Section 4980B of the Internal Revenue Code, commonly referred to as “COBRA,” up to a maximum period of 18 months.

Under our amended employment agreement with Mr. McGraw, if he is involuntarily terminated by us without cause or in the event of his constructive termination, he will receive the unconditional payments described above and (assuming he has no outstanding performance-based awards):

• A cash payment equal to two times his annualized base salary (if Mr. McGraw were a participant in the PBRP, his target cash bonus would be included in this calculation);

• His time-based restricted stock, which will be prorated to reflect service prior to his termination and vest;

• COBRA continuation coverage premiums for the period of continuation coverage available to him and his eligible dependents; and

• Any bonus for a