Business Context and Reporting Period
This Form 8-K Current Report was filed by Renasant Corporation on March 11, 2026. The filing discloses an amendment to the employment agreement of M. Ray (Hoppy) Cole, Jr., an executive officer of Renasant Bank, the company's wholly-owned subsidiary.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on executive compensation arrangements and does not contain financial performance data.
Material Changes
The primary material change involves the amendment of Mr. Cole's employment agreement regarding the Performance Based Rewards Plan (PBRP):
- Plan Alignment: Mr. Cole's bonus eligibility has shifted from performance periods (April 1 to March 31) to a calendar year basis (January 1 to December 31), aligning him with other senior executive officers.
- 2025 Proration: The 2025 bonus payment is prorated to 75% of the total amount, reflecting nine months of service in 2025.
- 2027 Separation Provision: If Mr. Cole separates on the agreement's expiration date of April 1, 2027, he is entitled to a PBRP payment equal to his target award prorated to 25% (reflecting three months of service in 2027). If employment continues past this date, standard calendar year terms apply.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on financial performance, or discussion of risks and contingencies. The only unusual item noted is the specific adjustment to the executive compensation structure to align with the company's standard calendar year cycle.
Investor Verification Checklist
- Verify the total target award amount for Mr. Cole to calculate the specific dollar value of the 75% and 25% prorated payments.
- Confirm the exact expiration date of the employment agreement (April 1, 2027) to assess the applicability of the separation provision.
- Review the company's annual report (10-K) to compare Mr. Cole's new compensation structure against other senior executives.