Form 4: SFNC Executive Makris Reports Stock Transactions

Simmons First National Corp. EVP George A. Makris III reported the vesting of restricted stock units and subsequent share disposition for tax purposes.

Summary

• George A. Makris III, EVP, General Counsel & Corporate Secretary of Simmons First National Corp. (SFNC), reported transactions on January 19, 2026.
• Acquired 1,621 shares of SFNC common stock through the vesting and conversion of Restricted Stock Units (RSUs) on a one-for-one basis.
• Disposed of 544 shares of SFNC common stock at a price of $19.24 per share, likely to cover tax obligations related to the RSU vesting.
• Following these transactions, Makris directly beneficially owns 44,996 shares of SFNC common stock, which includes 200 shares acquired through a dividend reinvestment plan.
• Additionally, 1,780 shares are indirectly beneficially owned by Makris's spouse.
• The transactions were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The executive is realizing compensation, which is a positive for the individual, and the transactions are routine. The net change in ownership is a reduction due to tax withholding, but the overall holding remains significant. The 10b5-1 plan indicates pre-planning.

Positives

• The executive acquired 1,621 shares through RSU vesting, indicating long-term incentive compensation coming to fruition.
• The transactions were conducted under a Rule 10b5-1(c) plan, suggesting pre-planned and automated transactions rather than discretionary trading.
• The executive's total direct beneficial ownership remains substantial at 44,996 shares, plus indirect ownership.

Negatives

• A disposition of 544 shares occurred, reducing direct beneficial ownership, although this is a common practice for tax withholding upon RSU vesting.

Future Outlook

NA

Industry Context

This Form 4 filing details a routine insider transaction for an executive at a financial institution, reflecting standard executive compensation practices (RSU vesting) and tax management common across publicly traded companies.

Comparison to Industry Standards

• This event aligns with common executive equity compensation practices observed in the financial sector and broader public markets, where Restricted Stock Units are a prevalent form of long-term incentive.
• No specific comparable companies or projects are directly referenced in the filing to provide a detailed benchmark.

Stakeholder Impact

• Shareholders: Minor dilution from RSU vesting (already accounted for in outstanding shares), but also shows executive's continued equity interest.
• Executive: Realization of equity compensation.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction involving the vesting of Restricted Stock Units and a subsequent sale of shares for tax purposes by a company executive. Such transactions are common and pre-planned under Rule 10b5-1, and do not typically indicate a change in the company's fundamental outlook or the executive's confidence. The executive retains a significant beneficial ownership stake. Therefore, this filing alone does not warrant a change in investment recommendation; a 'hold' stance is maintained pending further material news.

Keywords

Simmons First National Corp, SFNC, Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Executive Compensation, George A. Makris III, Stock Ownership, Rule 10b5-1