Every material Form 8-K Renasant filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Renasant amended the employment agreements of CEO C. Mitchell Waycaster and President and COO Kevin D. Chapman on December 17, 2024. Under the amendment, consistent with a previously announced succession plan, Waycaster will step down as CEO on May 1, 2025 while remaining Executive Vice Chairman, and his agreement now runs to April 30, 2027. Shareholders are affected by a leadership transition and by changes to executive pay and change-in-control terms.
Waycaster steps down as CEO on the May 1, 2025 Transition Date and remains Executive Vice Chairman; his time commitment is capped at 60% of his prior time.
On the Transition Date, Waycaster's base salary drops to 60% of its prior level, and his 2026 PBRP participation ends.
Waycaster received a $100,000 retention bonus, plus equity awards of $700,000 for 2025 and $170,000 for 2026.
Chapman's change-in-control severance multiple rises from 2.5 to 2.99 if he is terminated within two years after a change in control.
Renasant reported third-quarter 2024 net income of $72.5 million, or $1.18 diluted EPS, up from $38.8 million and $0.69 in the second quarter, helped by a $38.95 million after-tax gain on the sale of its insurance agency. Adjusted diluted EPS was $0.70, down from $0.74 a year earlier, and the filing also reports that shareholders of Renasant and The First Bancshares approved their merger, with completion expected in the first half of 2025.
Net income $72.5 million in Q3 2024 vs. $38.8 million in Q2 2024 and $41.8 million in Q3 2023
Diluted EPS $1.18 (GAAP) and $0.70 (adjusted, non-GAAP) vs. $0.74 adjusted a year earlier
Shareholders approved the merger with The First Bancshares, Inc.; Renasant expects completion in the first half of 2025
Board approved a new $100.0 million stock repurchase program on October 22, 2024; no buybacks occurred in Q3 2024
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Renasant filing is on SEC EDGAR ↗. 8-K briefs of other companies →