StockWatch
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Major Banks
ESOPMay 13, 2026, 05:32 PM

Simmons First National Shareholders Approve Amended 2023 Incentive Plan

AI Summary

Simmons First National Corp shareholders approved the Amended and Restated 2023 Stock and Incentive Plan at their Annual Meeting on May 13, 2026. The plan increases the maximum number of shares that may be issued by 3,550,000 to a total of 7,350,000 shares. Additionally, it introduces an annual $750,000 limit on combined cash and equity compensation for non-employee directors and extends the plan's term for granting awards to May 12, 2036. The plan aims to promote long-term growth, incentivize employees, non-employee directors, and consultants, and attract and retain outstanding talent.

Key Highlights

  • Shareholders approved the Amended and Restated 2023 Stock and Incentive Plan.
  • Maximum shares for issuance increased by 3,550,000 to 7,350,000 shares.
  • Annual $750,000 limit set for non-employee director compensation.
  • Plan's award granting term extended to May 12, 2036, from April 17, 2033.
  • Plan aims to promote long-term growth and attract/retain talent.
  • Awards include stock options, restricted stock, performance units, and cash awards.
  • All awards are subject to the Corporation's clawback policy.