secwatch.observer — SEC 8-K summary
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Issuer:     SIMMONS FIRST NATIONAL CORP (SFNC)
CIK:        0000090498
Form:       8-K
Filed at:   2024-01-26T23:59:59+00:00
Accession:  0001193125-24-016732
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Simmons First National enters new compensatory agreements with CFO; awards discretionary cash incentives for 2023
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- CFO C. Daniel Hobbs receives new indemnification, change-in-control severance (2x salary+ avg bonus), and deferred comp (30% of avg 5-yr salary for 180 months) agreements.
- 2023 cash incentive awards paid at 35% of target: CEO Fehlman $262,500; President Brogdon $192,500; CAO Massanelli $63,350.
- Threshold performance metrics for adjusted pre-provision net revenue and efficiency ratio were not met; committee exercised discretion based on individual performance and retention considerations.
- Change-in-control severance agreement has three-year term with automatic renewal; deferred comp vests at age 60 with earlier vesting on death, disability, or change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/90498/000119312524016732/0001193125-24-016732-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/90498/000119312524016732/d705339d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-016732

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