Company: RNST
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0000715072-25-000085
Chunk: 53

Company: RENASANT CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 53
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 the “Annual Performance-Based Cash Awards - Discretionary Cash Bonuses” section of our proxy statement for our 2024 Annual Meeting of Shareholders. Appendix A of such proxy statement includes a reconciliation of these non-GAAP measures to their most comparable measures under GAAP.

Adjusted diluted EPS, Adjusted efficiency ratio and Adjusted ROTCE (which is sometimes referred to as “adjusted return on average tangible shareholders equity”) are non-GAAP financial measures. Please refer to Appendix A, Non-GAAP Financial Measures , for more information about these measures as well as a reconciliation of each measure to its most comparable measure under GAAP.

2024 PBRP Performance Results and Payouts

The table below provides the weight given to each performance measure, specific threshold, target and superior performance levels for each measure and our results for 2024 as certified by the compensation committee.

| 2024 Company-Wide Performance Measures              |     |        |    |   |                        |       |   |                     |       |   |                       |       |   |                           |       |   |                             |       |   |
| Performance Measure                                 |     | Weight |    |   | Threshold  Performance |       |   | Target  Performance |       |   | Superior  Performance |       |   | 2024 Performance (Actual) |       |   | 2024 Performance (Adjusted) |       |   |
| Diluted earnings per share (EPS)                    |     |        | 50 | % |                        | $2.46 |   |                     | $2.59 |   |                       | $2.72 |   |                           | $3.27 |   |                             | $2.91 |   |
| Efficiency ratio                                    |     |        | 30 | % |                        | 68.77 | % |                     | 67.57 | % |                       | 66.41 | % |                           | 63.57 | % |                             | 67.31 | % |
| Return on average tangible common equity (non-GAAP) |     |        | 20 | % |                        | 10.69 | % |                     | 11.25 | % |                       | 11.81 | % |                           | 13.63 | % |                             | 12.46 | % |

In reviewing these results, the compensation committee considered the impact of Renasant’s sale of its insurance agency business effective July 1, 2024, the merger and conversion-related expenses