rnst-20230308

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

Filed by the Registrant

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Filed by a party other than the Registrant

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Check the appropriate box:

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Preliminary Proxy Statement

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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

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Definitive Proxy Statement

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Definitive Additional Materials

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Soliciting Material Under Rule 14a-12

RENASANT CORPORATION

(Name of Registrant as Specified in its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

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No fee required.

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Fee paid previously with preliminary materials.

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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

209 Troy Street

Tupelo, Mississippi 38804-4827

March 13, 2023

Dear Respected Shareholder:

On behalf of the board of directors, we cordially invite you to attend the 2023 Annual Meeting of Shareholders of Renasant Corporation. The annual meeting will be held beginning at 1:30 p.m., Central time, on Tuesday, April 25, 2023 at the principal offices of Renasant Bank, 209 Troy Street, Tupelo, Mississippi 38804-4827. The formal notice of the annual meeting appears on the next page.

At the annual meeting, you will be asked to (1) elect four Class 3 directors, each to serve a three-year term expiring in 2026, (2) adopt, in a non-binding advisory vote, a resolution approving the compensation of our named executive officers, as described in the proxy statement, (3) recommend, in a non-binding advisory vote, whether the non-binding advisory vote to approve the compensation of our named executive officers should be held every year, every two years or every three years, (4) ratify the appointment of HORNE LLP as our independent registered public accountants for 2023, and (5) transact such other business as may properly come before the annual meeting or any adjournments or postponements thereof.

The accompanying proxy statement provides detailed information concerning the matters to be acted upon at the annual meeting. We urge you to review this proxy statement and each of the proposals carefully. It is important that your views be represented at the annual meeting regardless of the number of shares you own or whether you are able to attend the annual meeting.

On March 13, 2023, we posted on our internet website, www.proxyvote.com, a copy of our proxy statement and proxy card for the 2023 Annual Meeting of Shareholders and our Annual Report on Form 10-K for the year ended December 31, 2022 (which serves as our Annual Report to Shareholders). On the same date, we mailed our shareholders a notice containing instructions on how to access our proxy materials over the internet and how to vote online (except that shareholders who affirmatively elected to receive paper copies of our proxy materials were mailed a full set of our proxy materials).

You may vote your shares via a toll-free telephone number or on the internet. If you received a paper copy of the proxy card, you may vote by signing, dating and mailing the accompanying proxy card in the envelope provided. Further voting instructions can be found beginning on page 61 of the proxy statement. As always, if you are the record owner of our stock, you may vote by attending the annual meeting. Unlike in prior years, we will not webcast the 2023 Annual Meeting, so you will not be able to attend the meeting over the internet.

On behalf of our board of directors, I would like to express our appreciation for your continued interest in Renasant Corporation.

Sincerely,

E. Robinson McGraw

Chairman of the Board and

Executive Chairman

RENASANT CORPORATION

209 Troy Street

Tupelo, Mississippi 38804-4827

NOTICE OF ANNUAL MEETING


TIME AND PLACE			1:30 p.m., Central time, on Tuesday, April 25, 2023 Renasant Bank 209 Troy Street Tupelo, Mississippi 38804-4827
ITEMS OF BUSINESS			1.Election of four Class 3 directors who will each serve a three-year term expiring in 2026; 2.Adoption, in a non-binding advisory vote, of a resolution approving the compensation of our named executive officers; 3.Recommendation, in a non-binding advisory vote, whether the non-binding advisory vote to approve the compensation of our named executive officers should be held every year, every two years or every three years; 4.Ratification of the appointment of HORNE LLP as Renasant’s independent registered public accountants for 2023; and 5.Transaction of such other business as may properly come before the annual meeting or any adjournments or postponements thereof.
RECORD DATE			You can vote if you were a shareholder of record as of the close of business on February 17, 2023.
ANNUAL REPORT; INTERNET AVAILABILITY OF MATERIALS			Our proxy statement, proxy card and Annual Report on Form 10-K for the year ended December 31, 2022, which serves as our Annual Report to Shareholders but is not part of our solicitation materials, have been posted on our internet website at www.proxyvote.com. If you received a paper copy of the proxy statement and proxy card, our annual report is also enclosed.
PROXY VOTING			It is important that your shares be represented and voted at the annual meeting. You may vote your shares via a toll-free telephone number or on the internet. If you received a paper copy of the proxy statement, you may vote your shares by signing, dating and mailing the accompanying proxy card in the envelope provided. Instructions about the three methods of voting are contained in the proxy statement. Any proxy may be revoked at any time prior to its exercise at the annual meeting.

By Order of the Board of Directors,

C. Mitchell Waycaster

President and Chief Executive Officer

Tupelo, Mississippi

March 13, 2023

Important Notice Regarding the Availability of Proxy Materials for

the Shareholders Meeting to be held on April 25, 2023:

Renasant’s 2023 proxy statement and proxy card and its Annual Report on Form 10-K for the year

ended December 31, 2022 are available at www.proxyvote.com.

TABLE OF CONTENTS


			Page
PROXY SUMMARY.........................................................................................................................................			1
Voting............................................................................................................................................................			1
2022 Financial and Compensation Highlights..............................................................................................			2
Environmental, Social and Governance Highlights for 2022........................................................................			4
CORPORATE GOVERNANCE AND THE BOARD OF DIRECTORS....................................................			6
Governing Documents and Practices............................................................................................................			6
Board of Directors.........................................................................................................................................			9
Director Independence..................................................................................................................................			10
Board Leadership Structure..........................................................................................................................			10
Board Committees.........................................................................................................................................			11
Role of the Board in Risk Oversight.............................................................................................................			13
Director Selection and Diversity...................................................................................................................			16
Related Person Transactions.........................................................................................................................			18
Legal Proceedings Involving a Director or Executive Officer and the Company or the Bank.....................			18
Shareholder Communications.......................................................................................................................			18
BOARD MEMBERS AND COMPENSATION.............................................................................................			21
Members of the Board of Directors..............................................................................................................			21
Director Compensation.................................................................................................................................			26
EXECUTIVE OFFICERS................................................................................................................................			28
COMPENSATION DISCUSSION AND ANALYSIS....................................................................................			30
Say-on-Pay....................................................................................................................................................			30
Objectives of Our Compensation Program...................................................................................................			30
Compensation Committee Practices.............................................................................................................			32
Decision-Making Process for 2022...............................................................................................................			36
2022 Compensation Decisions......................................................................................................................			37
COMPENSATION COMMITTEE REPORT.............................................................................................			43
COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION......................			43
COMPENSATION TABLES.........................................................................................................................			44
2022 Summary Compensation Table............................................................................................................			44
Grants of Plan-Based Awards.......................................................................................................................			46
Outstanding Equity Awards as of December 31, 2022.................................................................................			47
Vested Restricted Stock................................................................................................................................			47
Pension Benefits............................................................................................................................................			48
Non-Qualified Deferred Compensation........................................................................................................			48
Payments and Rights on Termination or Change in Control........................................................................			49
OTHER COMPENSATION-RELATED DISCLOSURES........................................................................			55
CEO Pay Ratio..............................................................................................................................................			55
Pay Versus Performance...............................................................................................................................			56
REPORT OF THE AUDIT COMMITTEE....................................................................................................			59
INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS.....................................................................			60


			Page
VOTING YOUR SHARES...............................................................................................................................			61
Attending the Annual Meeting......................................................................................................................			61
Record Date; Shares Outstanding.................................................................................................................			61
Voting............................................................................................................................................................			61
Quorum.........................................................................................................................................................			61
How Votes are Counted................................................................................................................................			61
Required Vote for Each Proposal..................................................................................................................			62
Shares Held by the Renasant 401(k) Plan.....................................................................................................			62
Solicitation and Revocation of Proxies.........................................................................................................			62
PROPOSALS.....................................................................................................................................................			64
Proposal 1 - Election of Four Class 3 Directors............................................................................................			64
Proposal 2 - Advisory Vote on Executive Compensation.............................................................................			64
Proposal 3 - Advisory Vote on the Frequency of the Shareholder Vote on Executive Compensation.........			65
Proposal 4 - Ratification of the Appointment of HORNE LLP as Independent Registered Public Accountants for 2023....................................................................................................................................			65
Other Matters................................................................................................................................................			66
STOCK OWNERSHIP.....................................................................................................................................			67
Common Stock Ownership Greater than 5%................................................................................................			67
Beneficial Ownership of Common Stock by Directors and Executive Officers...........................................			68
AVAILABILITY OF ANNUAL REPORT ON FORM 10-K........................................................................			70
APPENDIX A - NON-GAAP FINANCIAL INFORMATION.....................................................................			A-1

In this proxy statement, Renasant Corporation is referred to as “Renasant,” “we,” “our,” “us” or the “Company,” and Renasant Bank is referred to as the “Bank.”

We are providing this proxy statement to the shareholders of Renasant Corporation in connection with the solicitation of proxies by its board of directors for use at the 2023 Annual Meeting of Shareholders of Renasant Corporation to be held at 1:30 p.m., Central time, on Tuesday, April 25, 2023, including any adjournments or postponements of the meeting.

As permitted by the Securities and Exchange Commission, or SEC, rules, we are making this proxy statement, our proxy card and our Annual Report on Form 10-K for the year ended December 31, 2022, which serves as our Annual Report to Shareholders, available to our shareholders electronically. On March 13, 2023, we posted these materials on our internet website, www.proxyvote.com, and we mailed our shareholders a notice (the “Notice”) containing instructions on how to access our proxy materials and vote online (except for shareholders who affirmatively elected to receive paper copies of our proxy materials, to whom we mailed this proxy statement, our proxy card and our Annual Report on Form 10-K for the year ended December 31, 2022, on March 13, 2023).

PROXY SUMMARY

This section of our proxy statement briefly describes the proposals to be voted on at the 2023 Annual Meeting of Shareholders and our voting procedures. This section also provides 2022 financial highlights, pay-for-performance information and a discussion of certain of the environmental, social and governance initiatives we undertook in 2022. More information about the annual meeting and our 2022 executive compensation program is contained in the remainder of this proxy statement, and a detailed discussion of our financial results for 2022 can be found in our Annual Report on Form 10-K for the year ended December 31, 2022 (which serves as our Annual Report to Shareholders). We encourage you to review the entire proxy statement and annual report before you vote.

Voting

Proposals to be Voted On. Four proposals will be voted on at the annual meeting:


	More Information	Board Recommendation
Proposal 1 Election of Class 3 Directors (four nominees)	Page 64	FOR each nominee
Proposal 2 Adoption of a non-binding, advisory resolution approving the compensation of our named executive officers	Page 64	FOR
Proposal 3 Recommendation, in a non-binding advisory vote, whether the non-binding advisory vote to approve the compensation of our named executive officers should occur every year, every two years or every three years	Page 65	Every One Year
Proposal 4 Ratification of the appointment of HORNE LLP as our independent registered public accountants for 2023	Page 65	FOR

Voting Procedures. Votes may be cast in any of the following ways:


Internet	Telephone	Mail
Visit www.proxyvote.com. You will need the control number on your Notice or the proxy card mailed to you, as applicable.	Call toll free (800) 690-6903. You will need the control number on the Notice or your proxy card, as applicable.	Complete and mail your proxy card to the address on the card, if you received a paper copy of the proxy statement and proxy card.

It is important that your shares be represented and voted at our annual meeting. More information about our voting procedures, attendance at the annual meeting and revoking a proxy previously given may be found in the Voting Your Shares section later in this proxy statement.

2022 Financial and Compensation Highlights

Financial Performance. As illustrated in the table below and the information following the table, we achieved solid performance results in 2022.


	Year Ended December 31,
	2022		2021		2020		2019		2018
Diluted EPS (GAAP)	$2.95		$3.12		$1.48		$2.88		$2.79
Adjusted Diluted EPS (non-GAAP)(1)	$3.00		$2.98		$1.93		$3.03		$3.00
Return on Average Shareholders’ Equity (GAAP)	7.60	%	7.96	%	3.96	%	7.95	%	8.64	%
Adjusted Return on Average Tangible Shareholders’ Equity (non-GAAP)(1)	14.20	%	13.89	%	10.06	%	16.15	%	17.14	%
Return on Average Assets (GAAP)	1.00	%	1.11	%	0.58	%	1.30	%	1.32	%
Adjusted Return on Average Tangible Assets (non-GAAP)(1)	1.10	%	1.16	%	0.85	%	1.54	%	1.58	%

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