Company: RNST
Filing Date: 2025-02-26
Form Type: PRE 14A
Source: 0000715072-25-000057
Chunk: 95

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: PRE 14A
Chunk 95
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250,000,000).” The full text of the Authorized Shares Increase Amendment is attached as Appendix B-1 to this proxy statement.

The Authorized Shares Increase Amendment will not become effective until Articles of Amendment are filed with the Secretary of State of Mississippi. If the Authorized Shares Increase Amendment is approved, we intend to make this filing promptly after the annual meeting (and, if the Director Exculpation Amendment is also approved, the Articles of Amendment will also include the amendment to the Articles of Incorporation contemplated by the Director Exculpation Amendment).

We are not proposing to make any changes to the number of authorized shares of our preferred stock.

Reason for the Increase in the Number of Authorized Shares of Common Stock. As of February 24, 2025, 150,000,000 shares of common stock authorized for issuance, 63,657,444 shares of common stock were outstanding and an additional 2,145,119 shares were reserved for future grants and awards under the LTIP and our other employee benefit plans. In addition, we expect to issue approximately 31,251,167 shares of our common stock in connection with the completion of the FBMS merger. Therefore, following the completion of the FBMS merger, approximately 52,946,270 shares of our common stock will remain available for issuance.

Renasant has no present plan, agreement or understanding involving the issuance of its common stock, except for shares to be issued in the FBMS merger and shares required or permitted to be issued under the LTIP and other employee benefit plans (and, as the information in the previous paragraph shows, Renasant does not need to increase its authorized shares to cover shares issuable in the FBMS merger or reserved under the LTIP.) However, the board believes that it is in the best interests of Renasant and its shareholders to have a sufficient number of shares of common stock authorized to give us the flexibility to issue shares of common stock in connection with future stock dividends, public and private equity financings, mergers and other expansion opportunities as well as for general corporate purposes. The board has determined that the number of authorized shares of common stock currently available for issuance may not be sufficient for our future needs. Increasing the number of authorized shares now will avoid the potential delays and expense of calling and holding a special meeting of shareholders at a later date to approve an increase in the number of authorized shares, which could result in Renasant not being able to take advantage of a potential opportunity. The board believes that the increased number of authorized shares will