UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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.
As previously disclosed, Robert A. Fehlman resigned from his position as the chief executive officer of Simmons First National Corporation (“Company”) effective December 31, 2024, and is currently employed in an advisory role for the Company through March 31, 2025, at which time he will retire from the Company.
On March 4, 2025, the Compensation Committee of the Company’s board of directors exercised the authority provided in the relevant equity award agreements for Mr. Fehlman’s outstanding equity awards as follows: (1) for stock options originally granted under the Company’s Second Amended and Restated 2015 Incentive Plan (“2015 Plan”), all of which were already fully vested, extended the period during which Mr. Fehlman may exercise such options from three months to twelve months following his March 31, 2025 departure, provided, however, that the extended post-termination exercise period will not extend beyond the original expiration date for each option; (2) for unvested restricted stock units (“RSUs”) originally granted under the 2015 Plan and the Company’s 2023 Stock and Incentive Plan (“2023 Plan”), waived the continuous employment requirement such that the RSUs will vest effective March 31, 2025 and the underlying shares and related dividend equivalent payments will be issued and paid to Mr. Fehlman on an accelerated basis; and (3) for unvested performance share units (“PSUs”) originally granted under the 2015 Plan and the 2023 Plan, waived the continuous employment requirement such that the PSUs will continue to vest based on actual performance achieved during the relevant three-year performance period and the underlying shares and related dividend equivalents will be paid (if at all) based on the original payment schedule established for each PSU award, with no acceleration of payment.
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/ C. Daniel Hobbs | ||||||
| Date: March 10, 2025 | C. Daniel Hobbs, Executive Vice President and Chief Financial Officer | |||||