Simmons First National reaches separation with former EVP/Chief Banking Officer Reddin, $1M lump sum

SIMMONS FIRST NATIONAL CORP

Reddin receives $1,000,000 lump sum (less taxes) plus continued health benefits via COBRA; effective termination July 5, 2023.
Agreement includes 5-year confidentiality, 2-year non-solicitation of customers and employees, and 1-year non-compete in states with Simmons Bank offices.
Executive Change in Control Severance Agreement terminated; Indemnification Agreement remains in effect.
Mutual non-disparagement between Reddin and Simmons' Executive Management Committee.
Reddin must return all company property within one day of separation; failure triggers repayment of severance.

item 5.02 item 9.01

Executive movements

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Departed

Matthew Reddin

Executive Vice President and Chief Banking Officer

SFNC · SIMMONS FIRST NATIONAL CORP

Effective: 2023-07-05
Filed: July 28, 2023, 7:59 PM ET

On July 26, 2023, Simmons First National Corporation (“Company”) and its wholly-owned subsidiary, Simmons Bank (“Bank”), entered into a Separation Agreement and Release (“Agreement”) with Matthew Reddin, whose employment with the Company and the Bank as Executive Vice President and Chief Banking Officer ended effective July 5, 2023

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Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew Reddin departed as Executive Vice President and Chief Banking Officer at SIMMONS FIRST NATIONAL CORP.

Action: separated
Role: Executive Vice President and Chief Banking Officer

Exact text from the filing

On July 26, 2023, Simmons First National Corporation (“Company”) and its wholly-owned subsidiary, Simmons Bank (“Bank”), entered into a Separation Agreement and Release (“Agreement”) with Matthew Reddin, whose employment with the Company and the Bank as Executive Vice President and Chief Banking Officer ended effective July 5, 2023

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Source: SEC EDGAR

accession 0001171843-23-004793

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