Form 4: Director Lanigan Converts RSUs to SFNC Common Stock

Simmons First National Corp. Director Susan S. Lanigan converted 928 Restricted Stock Units into common stock on January 2, 2026, increasing her direct beneficial ownership.

Summary

• Susan S. Lanigan, a Director of Simmons First National Corp (SFNC), reported a change in beneficial ownership.
• On January 2, 2026, 928 Restricted Stock Units (RSUs) vested and converted into an equal number of SFNC common stock shares.
• Following this transaction, Ms. Lanigan directly beneficially owns 33,210 shares of SFNC Common Stock.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities, intended to satisfy Rule 10b5-1(c).

Sentiment

Score: 6

Explanation: Slightly positive, as it indicates a director's increased direct ownership in the company, aligning their interests with shareholders. However, it's a routine compensation event, not a discretionary purchase.

Positives

• The conversion of Restricted Stock Units into common stock increases the director's direct ownership, aligning her interests further with shareholders.
• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-planned and routine event.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This is a routine insider transaction, common across all industries, where executive or director compensation in the form of equity awards vests and converts into common stock. It reflects standard corporate governance and compensation practices rather than specific industry trends.

Comparison to Industry Standards

• The conversion of Restricted Stock Units (RSUs) into common stock upon vesting is a standard practice for executive and director compensation in publicly traded companies, including those in the financial services sector like Simmons First National Corp.
• The use of a Rule 10b5-1 plan for such transactions is also a common and accepted practice, providing an affirmative defense against insider trading allegations by pre-scheduling trades.

Stakeholder Impact

• Shareholders: The transaction increases a director's direct stake, which can be viewed positively as it enhances alignment between management and shareholder interests.

Key Dates

Keywords

Simmons First National Corp, SFNC, Form 4, Insider Transaction, Restricted Stock Units, RSU Conversion, Beneficial Ownership, Director Stock Ownership, Rule 10b5-1