Company: RNST
Filing Date: 2025-02-26
Form Type: PRE 14A
Source: 0000715072-25-000057
Chunk: 82

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: PRE 14A
Chunk 82
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 our median employee is the individual whose compensation is greater than one-half of our employees and less than one-half, excluding Mr. Waycaster. We are required to identify our median employee only once every three years, unless there is a material change to Renasant’s employee population or compensation arrangements that would significantly alter the pay ratio disclosure. We have identified a new median employee for the 2024 CEO pay ratio calculation, because we last identified our median employee three years ago.

In identifying the specific individual whom we considered our median employee:

• We first determined our employees as of December 31, 2024. Full-time, part-time, seasonal and temporary employees were included, but independent contractors, leased employees and similar workers were not. On December 31, 2024, our total employee population excluding Mr. Waycaster was 2,304 employees, and the number of independent contractors, leased employees and similar workers was not material.

• We then “ordered” our employees based on a consistently-applied, representative measure of compensation, which was total cash compensation paid to each employee for the fiscal year. We adjusted these amounts by annualizing the compensation for full-time and part-time individuals employed on December 31, 2024 who did not work the entire year. No full-time equivalent adjustments were made for part-time individuals, and we did not annualize the compensation of temporary or seasonal employees.

• Because we had an even number of employees as of the date we used for determining our median employee (that is, December 31, 2024), there was not a single median employee. We determined our “median employee” by averaging the total compensation of the two employees nearest the median.

Calculation of the CEO Pay Ratio. The CEO pay ratio compares the annual total compensation of Mr. Waycaster to the annual total compensation of our median employee. For this comparison, we are required to calculate Mr. Waycaster’s “annual total compensation” as the amount we reported in the “ Total ” column of the 2024 Summary Compensation Table above.

We calculated the annual total compensation of our median employee as if the amount would be reported in the “ Total ” column of the 2024 Summary Compensation Table. Our median employee’s annual total compensation is different (greater) than the amount of our median employee’s total cash compensation because it includes some non-cash items, such as the value of our contributions to the 401(k) plan, payroll deductions for deferrals to our 401(k) plan and insurance premiums and our insurance premium payments