Company: RNST
Filing Date: 2025-02-26
Form Type: PRE 14A
Source: 0000715072-25-000057
Chunk: 96

Company: RENASANT CORP
Filing Date: 2025-02-26
Form: PRE 14A
Chunk 96
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 enhance our ability to promptly respond to acquisition, financing and other opportunities.

Effects of the Proposal. The approval of the Authorized Shares Increase Amendment will result in an additional 100,000,000 shares of common stock being available for issuance. Authorized but unissued shares of Renasant’s common stock, including shares of common stock covered by this proposal, are issuable at such times, for such purposes and for such consideration (cash or otherwise) as the board of directors may determine to be appropriate without further authority from or approval by our shareholders, except as may be required by applicable law, rules or regulations and the NYSE Listing Rules. For example, both the Mississippi Business Corporation Act (the “MBCA”) and the NYSE Listing Rules require prior shareholder approval of a share issuance in connection with merger where the number of shares proposed to be issued would exceed 20% of Renasant’s voting power immediately prior to the merger.

The additional shares of Renasant common stock authorized by the Authorized Shares Increase Amendment will be part of the existing class of our common stock and thus will have the same rights and privileges as each share of common stock currently authorized or outstanding. These additional shares will not have any effect on the rights of present shareholders. However, our shareholders do not have preemptive rights (that is, the right to have the first chance to purchase shares in future stock issuances). Therefore, if the board determines to issue additional shares of our common stock, it would have the discretion to determine to whom such additional shares would be offered. As a result, the issuance of additional authorized shares in the future, other than through a proportional issuance such as a stock dividend, will have a dilutive effect on shareholders’ interests with respect to earnings per share, voting and liquidation value and, depending on the price at which the shares are issued, book and market value per share.

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Possible Anti-Takeover Effects of the Proposal. An increase in the authorized number of shares of common stock and the issuance of the shares may also have the effect of delaying or preventing a change in control of Renasant. Shares of authorized and unissued common stock could be issued (within the limits imposed by applicable law) in one or more transactions that would make a change in control of Renasant more difficult and therefore less likely. Any issuance of additional stock could have the effect of diluting the earnings per share and book value per share of outstanding shares of common stock and could be used to dilute the stock ownership or voting rights