Company: RNST
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000715072-25-000180
Chunk: 143

Company: RENASANT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 143
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 employees and time-based restricted stock to non-employee directors, executives, and other officers and employees.  The following table summarizes the changes in restricted stock as of and for the three months ended March 31, 2025:Performance-Based Restricted StockWeighted Average  Grant-Date Fair ValueTime-Based Restricted StockWeighted Average  Grant-Date Fair ValueNonvested at beginning of period203,115 $34.32 801,181 $35.08 Awarded75,644 36.17 268,758 36.84 Vested— — (210,121)38.28 Cancelled— — (1,580)36.22 Nonvested at end of period278,759 $34.82 858,238 $34.85 During the three months ended March 31, 2025, the Company reissued 173,777 shares from treasury in connection with awards of restricted stock. The Company recorded total stock-based compensation expense of $3,780 and $3,992 for the three months ended March 31, 2025 and 2024, respectively.There were no stock options granted or outstanding, nor compensation expense associated with options recorded, during the three months ended March 31, 2025 or 2024.

Note 9 – Derivative Instruments

(In Thousands)The Company uses certain derivative instruments to meet the needs of customers as well as to manage the interest rate risk associated with certain transactions.Non-hedge derivativesThe Company enters into derivative instruments that are not designated as hedging instruments to help its commercial customers manage their exposure to interest rate fluctuations. To mitigate the interest rate risk associated with these customer contracts, the Company enters into an offsetting derivative contract position. The Company manages its credit risk, or potential risk of default by its commercial customers, through credit limit approval and monitoring procedures. The Company enters into interest rate lock commitments with its customers to mitigate the interest rate risk associated with the commitments to fund fixed-rate and adjustable-rate residential mortgage loans. The Company also enters into forward commitments to sell residential mortgage loans to secondary market investors. The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:

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Table of ContentsRenasant Corporation and SubsidiariesNotes to Consolidated Financial Statements (Unaudited)

 Balance SheetMarch 31, 2025December 31, 2024 LocationNotional AmountFair ValueNotional AmountFair ValueDer