Jennifer Compton
SIMMONS FIRST NATIONALAbout Jennifer Compton
Jennifer B. Compton is Executive Vice President and Chief People Officer of Simmons First National Corporation (SFNC), with nine years of executive tenure at the Company; she has also served as Chief Strategy Officer in the last five years . She is 52 years old and holds dual roles at both the holding company and the bank . Her compensation history and incentive design emphasize pay-for-performance via annual CIP targets (historically EPS and efficiency ratio) and multi-year equity awards (RSUs and PSUs) with vesting and performance conditions; recent PSU frameworks at SFNC use relative tangible book value per share and TSR versus peers, aligning long-term incentives with shareholder outcomes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Simmons First National Corporation | EVP, Chief People Officer | 9 years | Human capital leadership; executive oversight at SFNC and Simmons Bank |
| Simmons First National Corporation | Chief Strategy Officer | Last 5 years | Strategy leadership noted in recent five-year period |
External Roles
No external public-company directorships or roles disclosed in SFNC filings for Ms. Compton.
Fixed Compensation
| Metric | FY 2020 |
|---|---|
| Base Salary ($) | $330,001 |
| Bonus ($) | $99,534 |
| Stock Awards ($) | $185,502 |
| Option Awards ($) | $0 |
| Non-Equity Incentive Plan Compensation ($) | $0 |
| Change in Pension Value and NQDC Earnings ($) | $113,945 |
| All Other Compensation ($) | $47,817 |
| Total ($) | $776,799 |
Performance Compensation
Annual Cash Incentive Plan (CIP) – Component Payouts (FY 2020)
| Component | Weighting (%) | Targeted Payment ($) | Achievement Level (%) | Amount Paid ($) |
|---|---|---|---|---|
| Core Diluted EPS (Jan–Jun 2020) | 25% | $41,250 | 67% | $27,638 |
| Efficiency Ratio (Jan–Jun 2020) | 25% | $41,250 | 95% | $39,188 |
| Core Diluted EPS (Jul–Dec 2020) | 25% | $41,250 | 0% | $0 |
| Efficiency Ratio (Jul–Dec 2020) | 25% | $41,250 | 71% | $29,288 |
| Total CIP Payment | — | — | — | $96,114 |
2020 Equity Grants and Vesting Structure
| Award Type | Grant Date | Shares / Target (#) | Vesting Schedule | Grant-Date Fair Value ($) |
|---|---|---|---|---|
| PSU (2015 Plan) | 02-26-2020 | Threshold: 1,996; Target: 3,991; Max: 7,982 | 3-year performance (2020–2022) tied to core EPS (2022) and relative TSR vs peer group; payout after Committee certification | $92,751 |
| RSU (2015 Plan) | 02-26-2020 | 3,991 | Vests in three equal annual installments on Feb 26, 2021, 2022, 2023 | $92,751 |
PSU/RSU Acceleration Framework (current program references)
- RSUs: Accelerated upon retirement (65+ or 62+ with 10 years), death, disability; vest on involuntary termination within one year post-CIC; forfeited otherwise unless Committee action .
- PSUs: Vest upon death/disability; on CIC, vest at target if ≥9 months into performance period; pro-rata vesting at qualified retirement; forfeited otherwise unless Committee action .
Equity Ownership & Alignment
| Policy or Item | Details |
|---|---|
| Executive Stock Ownership Guidelines | EVPs must hold shares/equity instruments valued at 3× base salary; compliance tested annually; 5-year window to comply; restrictions on liquidating equity until compliant . |
| Counting Toward Ownership | Includes direct/indirect holdings, IRAs/brokerage, options (vested), unvested RSUs, and PSUs at 100% payout for guideline purposes . |
| Anti-Hedging / Anti-Pledging Policy | Directors and senior officers (≥SVP) prohibited from hedging transactions and pledging SFNC securities; any exception requires prior NCGC approval . |
| BOLI Death Benefit (Split-Dollar Plan) | Participant death benefit designated for Ms. Compton: $746,000 . |
Pension/SERP Present Value (Compton Plan)
| Metric | FY 2020 | FY 2021 |
|---|---|---|
| Present Value of Accumulated Benefit ($) | $349,123 | $501,294 |
Employment Terms
Change-in-Control (CIC) Agreements and Severance Structure (Company-wide policy)
- Double-trigger requirement (CIC plus qualifying termination); lump sum severance equal to 2–3× the sum of highest prior-12-month base salary and the higher of target CIP or average of last two years’ CIP; RSUs vest upon termination within one year post-CIC; PSUs vest at target if ≥9 months into performance period; CIP accelerates pro-rata at target; deferred compensation vesting accelerated upon CIC .
Compton-Specific Benefits and Payments upon Termination (as of 12/31/2020)
| Scenario | Cash Compensation ($) | Accelerated Vesting of Incentives ($) | Retirement Plans ($) | Other Benefits ($) |
|---|---|---|---|---|
| Retirement | $0 | $0 | $0 | $0 |
| Involuntary Not For Cause Termination | $0 | $0 | $0 | $0 |
| Change in Control (with/without Trigger Event termination) | $1,010,226 | $660,383 | $1,613,805 | $0 |
| Death/Disability | $0 | $478,348 / $632,954 | $1,613,805 | $500,000 (BOLI death benefit) |
Notes:
- CIP under CIC accelerates on a pro-rata basis at target level (policy) .
- RSUs/PSUs and options acceleration governed by plan rules described above .
Performance & Track Record
- M&A execution recognition: One-time cash award of $15,000 in May 2022 for leadership and efforts tied to successful acquisitions (Landmark Community Bank, Triumph Bancshares, Spirit of Texas Bancshares) .
- Historical incentive metrics: 2020 CIP payout based on Core Diluted EPS and Efficiency Ratio components, reflecting operational and earnings discipline during a volatile period .
- Long-term equity alignment: PSUs tied to multi-year financial and market-relative outcomes; RSUs staggered vesting to support retention and alignment .
Compensation Committee & Governance
| Item | Details |
|---|---|
| Compensation Committee (2024) | Members included Susan Lanigan (Chair from Apr 23, 2024), Steven Cossé, Jerry Hunter, Robert L. Shoptaw; oversight of executive compensation design, performance measures, and awards; use of compensation consultant peer data . |
| Clawback Policy | Board-adopted compensation clawback applies to incentive-based compensation, integrated into cash and equity plans including the 2023 Plan . |
| Say-on-Pay (2024) | ~93% approval for 2023 NEO compensation (shareholder support signal) . |
Investment Implications
- Pay-for-performance alignment: Compton’s incentive framework has historically used hard financial metrics (EPS, efficiency ratio) and multi-year PSUs with relative measures, suggesting balanced short- and long-term alignment to shareholder value .
- Retention and selling pressure: RSU/PSU vesting, double-trigger CIC protections, 3× salary ownership guidelines with liquidation restrictions, and anti-hedging/anti-pledging policies reduce near-term selling pressure and support retention stability .
- Contract economics: CIC severance policy (2–3× cash components) and accelerated vesting can be value-protective for the executive; BOLI death benefit ($746k) and SERP (Compton Plan PV $501k in 2021) add to total employment economics—note acceleration terms in CIC, retirement, and death/disability scenarios .
- Execution signals: 2022 M&A award underscores contributions to value creation initiatives; continued governance practices (clawbacks, independent committee oversight, high say-on-pay support) mitigate compensation risk and indicate investor-friendly discipline .