Simmons First National Corp 8-K/A, filed Jan 24, 2023
Simmons First National Corp (SFNC)
About this 8-K/A
Simmons First National Corp filed this 8-K/A on January 24, 2023, reporting on events of December 19, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
AMENDMENT NO. 1 TO
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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.
Robert A. Fehlman - Compensatory Arrangement
In connection with Mr. Fehlman’s appointment as the Company’s chief executive officer, he will receive an annual base salary of $750,000 and an annual executive stipend of $12,000. Mr. Fehlman will also be eligible to receive an equity incentive award with a target amount of 135% of base salary – with an opportunity of up to 150% of target. In addition, Mr. Fehlman will be eligible to receive a cash incentive award with a target amount of 100% of base salary – with an opportunity of up to 200% of target. Mr. Fehlman was also granted a promotional equity award consisting of 17,521 performance share units. Mr. Fehlman will continue to receive other executive and employee benefits as outlined in the Company’s proxy statement for the Company’s 2022 annual meeting of shareholders.
James M. Brogdon - Compensatory Arrangement
In connection with Mr. Brogdon’s appointment as the Company’s president and chief financial officer, he will receive an annual base salary of $550,000 and an annual executive stipend of $12,000. Mr. Brogdon will also be eligible to receive an equity incentive award with a target amount of 120% of base salary – with an opportunity of up to 150% of target. In addition, Mr. Brogdon will be eligible to receive a cash incentive award with a target amount of 100% of base salary – with an opportunity of up to 200% of target. Mr. Brogdon was also granted a promotional equity award consisting of 13,141 performance share units. Mr. Brogdon will continue to receive other executive and employee benefits as outlined in the Company’s proxy statement for the Company’s 2022 annual meeting of shareholders.
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 24, 2023 | James M. Brogdon, President and Chief Financial Officer |