Kelly Hutcheson
RENASANTAbout Kelly Hutcheson
Kelly W. Hutcheson (age 42 as of the 2025 annual meeting) is Renasant Corporation’s and Renasant Bank’s Chief Accounting Officer (CAO), a role she has held since March 2017 after serving as the Bank’s Senior Accounting Manager since 2011; prior to Renasant she was a Certified Public Accountant with KPMG LLP serving clients across the Southeast . As CAO, her remit spans financial reporting integrity and control, interfacing with the CFO and audit committee; during her tenure, company-level performance included net income of $195.5M in 2024, diluted EPS of $3.27, and an adjusted diluted EPS of $2.76 (non-GAAP), with adjusted ROTCE of 11.55% and adjusted efficiency ratio of 66.30% . Over 2020–2024, RNST’s TSR based on a fixed $100 investment increased to $116.18, versus the peer index at $139.40 in 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Renasant Bank | Senior Accounting Manager | 2011–2017 | Led accounting operations supporting SEC reporting and internal controls during significant growth; foundation for CAO role |
| KPMG LLP | Certified Public Accountant | Prior to 2011 | Public accounting experience across industries; strengthens technical accounting and audit rigor |
External Roles
- None disclosed for Hutcheson in the latest proxy .
Fixed Compensation
- Hutcheson is an executive officer but not a Named Executive Officer (NEO); her specific base salary, target bonus, and perquisites are not separately disclosed in the proxy (NEO-only tables) .
Performance Compensation
- Company-level annual NEO incentives (PBRP) use these metrics and weights: EPS (50%), Efficiency Ratio (30%), ROTCE (20%), with payouts at threshold/target/superior set as % of base salary; the committee certified 2024 adjusted results as EPS 112.4% of target, Efficiency Ratio 100.4% of target, ROTCE 110.8% of target, yielding total awards at 108.4% of target for NEOs . Hutcheson’s personal targets and payouts are not disclosed.
| Metric | Weight | Threshold | Target | Superior | 2024 Actual | 2024 Adjusted |
|---|---|---|---|---|---|---|
| Diluted EPS | 50% | $2.46 | $2.59 | $2.72 | $3.27 | $2.91 |
| Efficiency Ratio | 30% | 68.77% | 67.57% | 66.41% | 63.57% | 67.31% |
| ROTCE (non-GAAP) | 20% | 10.69% | 11.25% | 11.81% | 13.63% | 12.46% |
- LTIP design for NEOs (and broader plan participants) emphasizes 3-year performance-based restricted stock measured relative to peers on ROTCE (PPNR), ROTA (PPNR), and TSR (weights 40%/40%/20%; thresholds at 25th percentile, targets at 50th, superior at 75th), with 0–150% payout range; time-based restricted stock uses 3-year cliff vesting for most NEOs . Hutcheson’s individual LTIP grants and vesting schedules are not disclosed.
Equity Ownership & Alignment
- Stock ownership guidelines apply to executive officers; pledged shares do not count toward compliance; hedging of company stock is prohibited, and short sales are barred .
- The proxy discloses detailed ownership for directors and NEOs and group totals, but does not list Hutcheson individually; thus her total beneficial ownership, pledged shares (if any), and guideline compliance status are not disclosed .
Employment Terms
- Executive officers other than Messrs. McGraw, Waycaster, Mabry, Chapman, Perry (NEOs) are appointed annually by the board and serve at its discretion; no individual employment agreement terms for Hutcheson are disclosed .
- Company-wide governance policies applicable to executives include insider trading pre-clearance and trading windows, hedging/pledging restrictions, and board-level oversight of related person transactions .
Performance & Track Record Context (Company-level during Hutcheson’s tenure)
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| Revenues ($USD ‘000s) | 235,532 | 226,984* | 149,253 | 113,075 | 203,660 |
| Net Income ($USD ‘000s) | 83,651 | 175,892 | 166,068 | 144,678 | 195,457 |
| Diluted EPS ($USD) | 1.48 | 3.12 | 2.95 | 2.56 | 3.27 |
- Note: Asterisk indicates value retrieved from S&P Global without an associated document citation (Values retrieved from S&P Global).
| Pay vs Performance TSR vs Peer | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| RNST TSR (value of $100) | $98.38 | $113.42 | $115.35 | $106.47 | $116.18 |
| Peer Group TSR (value of $100) | $89.66 | $128.06 | $104.16 | $107.45 | $139.40 |
| Net Income ($000s) | 83,651 | 175,892 | 166,068 | 144,678 | 195,457 |
| Adjusted Diluted EPS (Non-GAAP) | 1.93 | 2.98 | 3.00 | 3.15 | 2.76 |
Additional Signals (Policies and Risk Factors)
- Clawback policy is administered by the compensation committee; equity retention requires executives to hold shares for two years post-vesting (net of tax withholding) with restrictions on sale/pledge/mortgage, waived only for death, disability, retirement, or change in control .
- Change-of-control protections for NEOs use a double-trigger and cash multiples differentiated by role; tax gross-ups are not provided and cutbacks apply to avoid 280G excise taxes. These terms are not disclosed for non-NEO executive officers like Hutcheson .
Data Gaps and Monitoring Recommendations
- Insider transactions (Form 4) for Kelly Hutcheson could not be retrieved due to an access error in the insider-trades skill; recommend follow-up to assess vesting-related sales, net share settlements, or open-market activity (critical for near-term selling pressure). Attempted query 2023–2025 returned an authorization error [ReadFile insider-trades SKILL.md; Bash error].
- Hutcheson’s specific compensation mix (cash vs. equity), individual performance metrics/weights, and severance/change-in-control terms are not disclosed in the proxy (NEO-only disclosure) .
Investment Implications
- Alignment: Company policies (ownership guidelines, anti-hedging, two-year equity hold) suggest strong alignment for executive officers, but Hutcheson’s individual ownership and pledging status are undisclosed—monitor Form 4s to confirm alignment and near-term selling pressure .
- Retention risk: As a non-NEO executive without disclosed employment agreement terms, Hutcheson’s retention levers are primarily policy-driven and equity-linked if participating in LTIP; absence of disclosed severance/CoC economics reduces guaranteed protections relative to NEOs—track any 8-K 5.02 updates for changes .
- Execution: The CAO role is pivotal for financial reporting and control quality amid M&A integration (FBMS merger), capital actions, and non-GAAP adjustments; 2024 adjusted results reflect material transaction-related items, raising execution demands on accounting leadership .
- Performance context: Company-level profitability and EPS recovered in 2024 with significant adjustments; TSR lags the peer index, indicating investors may still scrutinize efficiency and capital deployment—sustained improvements in adjusted ROTCE/efficiency will be key .