Business Context and Reporting Period
Company: Simmons First National Corporation (SFNC)
Filing Type: Form 8-K (Current Report)
Date of Report: December 23, 2025
Reporting Period: Event-specific (December 23, 2025)
Business Context: The filing discloses a new compensatory arrangement involving the Company's Chairman and CEO regarding the personal use of corporate aircraft.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document is a current report focused on a specific corporate governance event rather than periodic financial performance.
Material Changes
New Executive Agreement: On December 23, 2025, the Company entered into an Aircraft Time Sharing Agreement with George Makris, Jr. (Chairman and CEO).
Terms of Agreement:
- Mr. Makris, Jr. may lease the Company aircraft with flight crew on a non-exclusive basis for personal travel.
- Usage is limited to Mr. Makris, Jr. and his guests.
- Mr. Makris, Jr. must reimburse the Company for actual expenses, including "deadhead" flights.
- The Company will not provide tax reimbursements for imputed income or federal air transportation excise taxes.
- Either party may terminate the agreement with 10 business days' prior written notice.
Guidance, Outlook, and Risks
Management Commentary: The filing provides no forward-looking guidance, outlook, or general management commentary regarding business operations.
Risks and Contingencies: The filing does not disclose new material risks or contingencies beyond the terms of the aircraft agreement. The agreement is subject to termination by either party with 10 business days' notice.
Investor Verification Checklist
- Review the full text of the Aircraft Time Sharing Agreement attached as Exhibit 10.1 to verify specific cost allocation formulas and expense definitions.
- Confirm the total estimated annual cost of the aircraft usage to the Company based on historical flight data.
- Verify the Company's internal policies regarding executive compensation and personal use of corporate assets to ensure compliance with governance standards.
- Check for any related tax implications for the Company or the executive that may not be fully detailed in the summary.