SIMMONS FIRST NATIONAL CORP 8-K

What Happened

• Simmons First National Corporation filed a Form 8-K on December 23, 2025, announcing an aircraft time-sharing agreement with its chairman and CEO, George Makris, Jr. Under the agreement Mr. Makris may lease the company aircraft with flight crew on a non‑exclusive basis for personal travel for him and his guests, reimbursing the company for the actual expenses of each flight (including any related “deadhead” flights). The agreement may be terminated by either party with 10 business days’ written notice. The full agreement is attached as Exhibit 10.1 to the filing.

Key Details

• Agreement date: December 23, 2025.
• Parties: Simmons First National Corporation and George Makris, Jr. (chairman & CEO).
• Use: Non‑exclusive personal use of company aircraft with flight crew; CEO reimburses actual flight expenses, including deadhead flight costs.
• Termination: Either party can end the agreement with 10 business days’ prior written notice.
• Taxes: The company will not reimburse Mr. Makris for imputed income taxes or federal air transportation excise tax arising from his personal use.

Why It Matters

• This is a related‑party arrangement involving the CEO and the company aircraft; investors should note the disclosure because it affects executive benefits and corporate governance transparency.
• Reimbursement of actual flight costs and the company’s refusal to cover tax liabilities limit the company’s direct out‑of‑pocket exposure, but imputed income could be a non‑cash compensation item for the CEO.
• Investors tracking executive compensation, perquisites, or potential related‑party transactions may want to review the attached agreement (Exhibit 10.1) and future disclosures (e.g., proxy statements) for any statements of materiality or additional details.