RENASANT CORPORATION (NASDAQ:RNST) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 16, 2018, the Board of Directors of Renasant Corporation (“Renasant”) amended and restated the Renasant Corporation Performance Based Rewards Plan (the “PBRP”). The PBRP provides an opportunity for eligible officers and employees of Renasant, Renasant Bank and Renasant’s other affiliates to earn annual cash incentives. Incentives are expressed as a target percentage of an eligible employee’s base salary, with the actual percentage based on job classification. Renasant’s Compensation Committee annually determines the performance criteria used to determine the amount of the incentive payments, which criteria may take into account individual, business unit and/or company-wide performance, either in an absolute sense or relative to a designated peer group.
The purpose underlying the amendment and restatement of the PBRP was to codify existing practices that were not explicitly documented in the previous plan document and to update the plan document to include standard administrative provisions. The amendment and restatement of the PBRP did not make any substantive changes in the administration of the plan, the amount or type of awards available under the PBRP or the scope of employees eligible to receive such awards under the plan.
The foregoing description of the amended and restated Performance Based Rewards Plan does not purport to be complete and is qualified in its entirety by reference to the plan itself, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 9.01.Financial Statements and Exhibits.
(d)Exhibits.
RENASANT CORP ExhibitEX-10.1 2 exhibit101to8-kforpbrpamen.htm EXHIBIT 10.1 Exhibit Exhibit 10.1RENASANT CORPORATIONPERFORMANCE BASED REWARDS PLANRenasant Corporation,…To view the full exhibit click here
About RENASANT CORPORATION (NASDAQ:RNST)
Renasant Corporation is a bank holding company that owns and operates Renasant Bank (the Bank) and Renasant Insurance, Inc. (Renasant Insurance), a subsidiary of the Bank with operations in Mississippi. The Company operates through three segments: Community Banks segment, Insurance segment and Wealth Management segment. The Community Banks segment offers a range of banking and financial services to individuals and small to medium-sized businesses. The Insurance segment includes an insurance agency offering all lines of commercial and personal insurance through major carriers. The Wealth Management segment offers a range of fiduciary services, which includes the administration and management of trust accounts, including personal and corporate benefit accounts, self-directed individual retirement accounts (IRAs), and custodial accounts. In addition, the Wealth Management segment offers annuities, mutual funds and other investment services through a third-party broker-dealer.
