Company: SFNC
Filing Date: 2025-04-03
Form Type: DEFR14A
Source: 0001174947-25-000480
Chunk: 33

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-04-03
Form: DEFR14A
Chunk 33
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 ranges from approximately 30% to 48% of total direct compensation. •Cash Incentive Plan: ranges from 0% to approximately 31% of total direct compensation. •Equity Incentives: ranges from approximately 29% to 69% of total direct compensation. “Total direct compensation” means annual base salaries plus bonus plus target non -equityand target equity incentive compensation, excluding non -recurring, special purpose grants, payments, or bonuses (including, for the avoidance of doubt, bonuses for the successful completion of mergers and acquisitions). The Company emphasizes market practices in the design and administration of its executive compensation program. The Compensation Committee’s philosophy is that incentive pay should generally constitute a significant component of total direct compensation. The executive compensation program may utilize stock options, restricted stock awards, restricted stock units and performance share units, although no stock options or restricted stock awards were issued during 2024. Equity incentive performance measures generally should promote shareholder return and earnings growth, and the plan design should reflect a direct connection between performance measures, the participant’s ability to influence such measures, and the award levels. Consistent with the recommendation of the compensation consultant, the Compensation Committee included restricted stock units and performance share unit awards as components of the 2024 incentive compensation program. Executive Compensation Program Overview The Company takes shareholder feedback on its compensation programs very seriously. The Company appreciates that approximately 93% of shares that voted on the Company’s “say -on-pay” proposal at the 2024 Annual Meeting of Shareholders approved the 2023 compensation of the named executive officers as disclosed in the 2024 proxy statement, and the Compensation Committee views this as an indication that the Company has been generally effective in implementing its compensation philosophy and objectives. Nevertheless, the Compensation Committee recognizes that executive pay practices and governance continue to evolve, and the Compensation Committee is committed to continually evaluating the Company’s practices in this area, including through the use of advisors, to help ensure that they support the Company’s overall strategic goals. The four primary components of the Company’s executive compensation program are: •base salary and bonus, •non -equityincentives, •equity incentives, and •benefits. 1. Base Salary and Bonus Base salary is designed to provide competitive levels of compensation to executives based upon their experience, duties, and scope of responsibility. The Company pays base salaries because it provides a basic level of compensation and is necessary to recruit and retain executives. The Company may use annual base salary adjustments to reflect an individual