Company: SFNC
Filing Date: 2025-04-03
Form Type: DEFR14A
Source: 0001174947-25-000480
Chunk: 74

Company: SIMMONS FIRST NATIONAL CORP
Filing Date: 2025-04-03
Form: DEFR14A
Chunk 74
---
 Company, upon the occurrence of a change in control and a qualifying termination, severance cash payments will consist of two times the sum of the following items: (1) the highest annual base salary for the previous twelve months and (2) the greater of the projected target annual incentive to be paid under the CIP for the current year, or the average CIP bonus paid to the executive over the prior two years. [b]The payment due the named executive officer due to certain termination triggers related to the Company’s equity compensation plans is made based on the specific terms and conditions associated with each plan and the respective award. These amounts are attributable to the vesting of unvested restricted stock (including, where appropriate, RSUs and PSUs) and stock options, as of December 31, 2024. In the case of a change in control, these amounts also include the acceleration of the full value of the target level benefit under the 2024 CIP award. In the case of retirement, RSUs and PSUs do not vest unless the named executive officer has attained either age 65 or age 62 with ten years of service. As of December 31, 2024, only Mr. Makris, Jr. had met the qualifying retirement criteria for RSU and PSU retirement vesting. In the case of disability, PSUs with a performance period ending on December 31, 2024 are valued using the actual number of shares that vested, and PSUs with performance periods ending after December 31, 2024 are valued using the maximum number of shares which may vest. In the case of death, PSUs with a performance period ending on December 31, 2024 are valued using the actual number of shares that vested, and PSUs with performance periods ending after December 31, 2024 are valued using the maximum number of shares which may vest. In the case of retirement, PSUs with

49 a performance period ending on December 31, 2024 are valued using the actual number of shares that vested, and PSUs with performance periods ending after December 31, 2024 are valued using the maximum number of shares which may vest and prorating the value based on a retirement date of December 31, 2024. [c]The named executive officer’s benefit under the Fehlman Plan, Hobbs Plan, Brogdon Plan, or Makris III Plan (as applicable) does not vest until he attains age 60 (as of