Company: RNST
Filing Date: 2025-02-26
Form Type: PRE 14A
Source: 0000715072-25-000057
Chunk: 57

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: PRE 14A
Chunk 57
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 2025  |
| Mr. Chapman            |     | 12,399 |                  |    |     | January 1, 2024 |     | January 1, 2027 |
| Mr. Perry              |     |  7,098 |                  |    |     | January 1, 2024 |     | January 1, 2027 |

(1) In accordance with the terms of this award, the number of shares that vested was prorated as if Mr. McGraw’s employment terminated as of May 1, 2024.

Performance-Based Equity Awards Vesting in 2024

Performance-based equity awards made at the beginning of 2022 under the LTIP were subject to a three-year performance cycle that ended December 31, 2024. The performance measures applicable to the awards were ROTA (PPNR) (non-GAAP), ROTCE (PPNR) (non-GAAP) and TSR, all measured on a relative basis (that is, as compared to our peer group). A complete description of these awards can be found in our proxy statement for our 2023 Annual Meeting of Shareholders, which was filed with the SEC on March 13, 2023.

Upon completion of the three-year performance period applicable to these awards, the compensation committee reviewed the results of each performance metric. Over the performance period, our ROTA (PPNR) and ROTCE (PPNR) fell slightly below and above the target performance level, respectively, while TSR fell slightly below the superior performance level. The committee considered whether to adjust performance results for the same reason that it adjusted our performance results for purposes of the performance-based cash awards. The committee elected not to adjust performance results for the performance

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period for two reasons. First, the committee found that other members of the peer group similarly experienced infrequent or non-recurring events over the three-year performance period, and it was not practical to attempt to adjust the results of each member of the peer group. Second, not adjusting performance results for infrequent or non-recurring items, regardless how such items impacted performance results, is consistent with the committee’s historical practice. For example, in 2023, Renasant incurred $41.8 million in aggregate losses on the sale of investment securities associated with two separate restructuring transactions. Although this loss negatively impacted Renasant’s ROTA (PPNR) (non-GAAP) and ROTCE (PPNR) for