Form 4: Simmons First National Corp: Executive George A. Makris, III Reports Changes in Beneficial Ownership

George A. Makris, III, EVP, Gen. Counsel & Corp. Sec of Simmons First National Corp, reports acquisition and disposal of SFNC common stock due to settlement of performance share units and tax withholding.

Summary

• On March 6, 2024, George A. Makris, III, an executive at Simmons First National Corp (SFNC), reported changes in beneficial ownership of SFNC common stock.
• He acquired 687 shares through the settlement of performance share units (PSUs) granted on April 21, 2021, at a price of $0.00.
• He disposed of 207 shares to satisfy tax withholding obligations at a price of $19.91.
• Following these transactions, Makris directly owns 52,833 shares of SFNC common stock and indirectly owns 1,780 shares through his spouse.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and does not indicate any significant positive or negative developments for the company.

Positives

• The acquisition of shares through PSU settlement indicates that performance goals were met during the performance period.

Negatives

• The disposal of shares to cover tax obligations reduces the executive's holdings, although this is a common practice.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards, such as PSUs, to align management's interests with those of shareholders.
• Tax withholding upon vesting of equity awards is a common practice across the industry.
• Comparing the size of Makris's holdings and transactions to those of executives at peer banks (e.g., Bank of America, Wells Fargo) would provide further context.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders.
• The disclosure provides transparency to shareholders regarding executive compensation and ownership.

Key Dates