Eugene Hunt
SIMMONS FIRST NATIONALAbout Eugene Hunt
Eugene Hunt, 79, has served as an independent director of Simmons First National Corporation (SFNC) since 2009. He is an attorney in private practice in Pine Bluff, Arkansas; previously an Arkansas Court of Appeals Judge (Aug–Dec 2008), Special Circuit Judge, and Special Justice of the Arkansas Supreme Court. He holds a B.A. in History and Government from Arkansas AM&N College (1969) and a J.D. from the University of Arkansas Law School (1971). The Board cites his legal experience and deep familiarity with southeastern Arkansas as valuable for understanding small business and consumer banking needs in a key SFNC market .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hunt Law Firm | Attorney | 1972–present | Private practice; community legal insight |
| Arkansas Court of Appeals | Judge | Aug–Dec 2008 | Judicial experience |
| Arkansas Supreme Court | Special Justice | Not disclosed | Appellate exposure |
| Special Circuit Court | Special Circuit Judge | Not disclosed | Judicial service |
| Child Support Enforcement Unit, Jefferson County | Director | 1990–2001 | Government legal administration |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Economic Development Corporation of Jefferson County, AR | Board Member | Current | Local economic development oversight |
| Jefferson Hospital | Board Member | Current | Healthcare governance |
| Youth Partners | Board Member | Current | Community engagement |
| NAACP | Life Member | Since 1978 | NAACP Legal Defense Fund Affiliate Attorney |
| Arkansas Ethics Commission | Involved (not specified) | Not disclosed | Ethics/public policy engagement |
| Jefferson County United Way | Involved (not specified) | Not disclosed | Community support |
| Arkansas Criminal Code Revision Commission | Involved (not specified) | Not disclosed | Legal policy input |
No other public company directorships are disclosed for Mr. Hunt .
Board Governance
- Independence: Classified as independent; not a member of Audit, Compensation, or Nominating & Corporate Governance committees per 2025 proxy matrix .
- Committee assignments: Member, Risk Committee (4 meetings in 2024) .
- Chair roles: None disclosed .
- Attendance: Board met 8 times in 2024; all incumbent directors attended at least 75% of Board and committee meetings in their service periods . In 2023, Board met 7 times; all incumbents attended at least 75% .
- Years of service: Director since 2009 .
- Lead Independent Director: Steven A. Cossé; chairs Executive Committee and executive sessions of independent directors .
- Policies: Anti-hedging and anti-pledging policies for directors; stock ownership guidelines; Related Party Transactions policy (Reg O compliant banking relationships considered immaterial if arm’s-length) .
Fixed Compensation
2023 and 2024 director compensation (Company board and Simmons Bank board/committees):
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $65,000 | $70,000 |
| Stock Awards ($) | $60,758 (RSUs) | $70,013 (RSUs) |
| All Other Compensation ($) | $0 | $0 |
| Total ($) | $125,758 | $140,013 |
| Simmons Bank Board & Committee Fees ($) | $25,000 (SB Board $15,000; SB Committees $10,000) | $35,000 (SB Board; no committee chair/vice-chair fees) |
Program structure (all non-employee directors):
- Annual equity retainer paid in RSUs; 2023 retainer ≈$60,000 (3,805 RSUs at $15.77) vesting quarterly on grant date, Jul 3, Oct 2, Jan 2 .
- 2024 retainer ≈$70,000 (4,040 RSUs at $17.33) vesting quarterly on grant date, Jul 1, Oct 1, Jan 2 .
- Committee chair/vice-chair cash retainers (if applicable): Audit $20k/$5k; Compensation $15k/$5k; Executive $25k; NCGC $10k; Risk $15k (2024) .
Performance Compensation
Directors do not receive performance-based equity (e.g., PSUs); RSUs vest based on continued service and quarterly schedules.
| Equity Detail | 2023 | 2024 |
|---|---|---|
| RSUs Granted (units) | 3,805 | 4,040 |
| Grant Date | May 3, 2023 | May 1, 2024 |
| Grant Date Price | $15.77 | $17.33 |
| Vesting Schedule | Quarterly: grant date; Jul 3; Oct 2; Jan 2 | Quarterly: grant date; Jul 1; Oct 1; Jan 2 |
| Unvested RSUs Outstanding (as of YE) | 952 per non-employee director at 12/31/2023 | 1,010 per non-employee director at 12/31/2024 |
Other Directorships & Interlocks
| Company/Organization | Type | Role | Potential Interlock/Conflict |
|---|---|---|---|
| The Economic Development Corporation of Jefferson County, AR | Non-profit/public agency | Board Member | None disclosed with SFNC customers/suppliers |
| Jefferson Hospital | Non-profit | Board Member | None disclosed |
| Youth Partners | Non-profit | Board Member | None disclosed |
| NAACP Legal Defense Fund | Non-profit | Affiliate Attorney | None disclosed |
Related party transactions: SFNC reports ordinary-course banking relationships with directors/affiliates under Reg O terms; no specific related-party transactions disclosed for Hunt .
Expertise & Qualifications
- Legal and judicial expertise, including appellate and circuit court experience .
- Deep community ties and understanding of southeastern Arkansas market dynamics; insight into small business and consumer banking needs .
- Governance roles across local healthcare and economic development organizations .
Equity Ownership
| Metric | 2024 (as of Jan 31, 2024) | 2025 (as of Feb 7, 2025) |
|---|---|---|
| Total Beneficial Ownership (shares) | 29,593 | 31,430 |
| Ownership % of Shares Outstanding | <1% (asterisk indicates less than 1%) | <1% (asterisk indicates less than 1%) |
| Breakdown (if disclosed) | 26,761 direct; 2,000 joint (daughter); 832 IRA | Not disclosed (aggregate only) |
| Shares Pledged as Collateral | Prohibited by policy unless NCGC-approved exception (none disclosed) | |
| Hedging of Company Stock | Prohibited for directors | |
| Director Ownership Guidelines | Required ≥3× annual equity retainer; 5 years to comply; restrictions on sale until guideline met |
Compliance status with director ownership guideline is not individually disclosed; SFNC states directors and executives generally already hold equity and the guideline applies .
Governance Assessment
- Board effectiveness: Independent status; Risk Committee member; attendance threshold met; strong lead independent director structure and executive sessions reinforce oversight .
- Compensation alignment: Director pay split between cash retainers and time-based RSUs; no performance-based metrics—reduces pay-for-performance signaling but aligns with standard bank board practices; use of external consultant (Pearl Meyer) supports market alignment .
- Ownership alignment: Beneficial ownership present and anti-hedge/pledge policy protects alignment; director ownership guideline in place though individual compliance not disclosed .
- Conflicts: No Hunt-specific related-party transactions disclosed; Reg O framework and NCGC oversight mitigate credit-relationship conflicts .
- Investor confidence signals: 2025 Say-on-Pay support was strong (For: 88,021,550; Against: 2,438,931; Abstain: 452,711; broker non-votes: 17,485,993), indicating shareholder comfort with compensation governance . Executive sessions and clawback policy strengthen governance .
RED FLAGS: None disclosed specific to Hunt (no pledging/hedging, no related-party transactions, attendance threshold met). Potential gaps include lack of performance-linked director equity and no individual disclosure of ownership guideline compliance—common across boards but note for alignment monitoring .