Simmons First National Reports Executive Changes, Comp Arrangements

TL;DR

**Simmons First National is shaking up its executive team and pay, watch for strategic shifts.**

AI Summary

Simmons First National Corporation filed an 8-K on January 26, 2024, reporting events from January 22, 2024, concerning changes in its executive leadership and compensation. The filing indicates potential departures or elections of directors and officers, alongside new compensatory arrangements for certain officers. This matters to investors because changes in leadership and executive compensation can signal shifts in company strategy, financial health, or governance, potentially impacting future stock performance.

Why It Matters

Changes in executive leadership and compensation can signal strategic shifts or financial health, directly influencing investor confidence and the company's future direction.

Risk Assessment

Risk Level: medium — Changes in leadership can introduce uncertainty regarding future company strategy and performance, warranting a medium risk assessment.

Analyst Insight

A smart investor would monitor subsequent filings for specific details on the executive changes and compensatory arrangements, as these could signal strategic shifts or impact future financial performance. Pay close attention to who is leaving or joining and the nature of new compensation packages.

Key Numbers

• $0.01 — par value per share (This is the stated par value of Simmons First National Corporation's common stock.)

Key Players & Entities

• SIMMONS FIRST NATIONAL CORP (company) — the registrant filing the 8-K
• January 22, 2024 (date) — date of the earliest event reported
• January 26, 2024 (date) — date the 8-K was filed
• 0000090498 (company) — Central Index Key (CIK) for Simmons First National Corp
• SFNC (company) — trading symbol for Simmons First National Corporation
• $0.01 (dollar_amount) — par value per share of common stock

Forward-Looking Statements

• Simmons First National Corporation will announce specific details regarding executive departures or appointments within the next quarter. (SIMMONS FIRST NATIONAL CORP) — medium confidence, target: 2024-04-30
• The new compensatory arrangements will be detailed in a subsequent filing or proxy statement. (SIMMONS FIRST NATIONAL CORP) — high confidence, target: 2024-03-31

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share SFNC The Nasdaq Global Se
• $262,500 — the following amounts: Robert Fehlman – $262,500; James Brogdon – $192,500; and Stephen
• $192,500 — ert Fehlman – $262,500; James Brogdon – $192,500; and Stephen Massanelli – $63,350. Each
• $63,350 — on – $192,500; and Stephen Massanelli – $63,350. Each of these payments represents appr

Filing Documents

• d705339d8k.htm (8-K) — 35KB
• d705339dex101.htm (EX-10.1) — 73KB
• d705339dex102.htm (EX-10.2) — 64KB
• d705339dex103.htm (EX-10.3) — 26KB
• 0001193125-24-016732.txt ( ) — 360KB
• sfnc-20240122.xsd (EX-101.SCH) — 3KB
• sfnc-20240122_lab.xml (EX-101.LAB) — 17KB
• sfnc-20240122_pre.xml (EX-101.PRE) — 11KB
• d705339d8k_htm.xml (XML) — 3KB

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) Indemnification Agreement On January 25, 2024, Simmons First National Corporation ("Company") entered into an Indemnification Agreement with C. Daniel Hobbs, executive vice president and chief financial officer of the Company. The Indemnification Agreement supplements indemnification provisions already contained in the Company's Amended and Restated Articles of Incorporation (as amended) and Amended and Restated By-Laws and generally provides that the Company shall indemnify Mr. Hobbs to the fullest extent permitted by applicable law, subject to certain exceptions, against expenses, judgments, fines and other amounts actually and reasonably incurred in connection with his service as an officer and also provides for rights to advancement of expenses and contribution. The description of the Indemnification Agreement set forth in this Item 5.02 is not complete and is qualified in its entirety by reference to the full text of the Indemnification Agreement between the Company and Mr. Hobbs, which is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. Executive Change in Control Severance Agreement On January 25, 2024, the Company and Simmons Bank entered into an Executive Change in Control Severance Agreement ("CIC Agreement") with Mr. Hobbs. The CIC Agreement provides Mr. Hobbs with termination compensation if (1) Mr. Hobbs' employment is involuntarily terminated without "cause" (as defined in the CIC Agreement) either (a) on or after the date a change in control of the Company occurs or (b) within 180 days immediately preceding the date a change in control of the Company occurs, or (2) a change in control occurs and Mr. Hobbs voluntarily terminates his employment within six months following a "trigger event" (as defined in the CIC Agreement). For pur

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Item 9.01

Financial Statements and Exhibits

Financial Statements and Exhibits. Exhibit No. Description 10.1 Indemnification Agreement for C. Daniel Hobbs dated January 25, 2024 10.2 Executive Change in Control Severance Agreement for C. Daniel Hobbs dated January 25, 2024 10.3 Deferred Compensation Agreement for C. Daniel Hobbs dated January 25, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SIMMONS FIRST NATIONAL CORPORATION /s/ James M. Brogdon Date: January 26, 2024 James M. Brogdon, President