[Form 4] Simmons First National Corp Insider Trading Activity

Rhea-AI Filing Summary

On July 1, 2025, Simmons First National Corp. (SFNC) director Mark C. Doramus converted previously granted Restricted Stock Units (RSUs) into common shares, according to a Form 4 filed on July 3, 2025. Two conversion transactions (transaction code “M”) delivered 953 and 929 shares, respectively, resulting in the acquisition of 1,882 new shares at a zero-dollar exercise price.

After the conversions, Doramus’ direct ownership rose to 53,662 SFNC shares. The RSUs that vested on July 1 were part of the company’s equity-compensation program. Additional tranches—953 shares and 929 / 928 shares—are scheduled to vest on October 1, 2025 and January 2, 2026, with customary acceleration provisions for retirement, death, or disability.

No shares were sold, and the filing reflects a routine, compensation-related increase in insider ownership rather than discretionary open-market buying. As such, the event is considered low in market impact, though it marginally aligns director incentives with shareholders through a higher personal stake.

Positive

• Director Mark C. Doramus increased his direct ownership by 1,882 shares, now holding 53,662 shares.
• No insider selling occurred; all vested shares were retained.

Negative

• The acquisition is the result of routine RSU vesting, not a discretionary open-market purchase, limiting its signaling value.

Insights

Securities Analyst

TL;DR: Routine RSU conversion adds 1,882 shares to director’s stake; negligible effect on SFNC valuation or trading dynamics.

The Form 4 shows a technical "M" code—conversion of derivative securities—rather than a cash purchase. While Doramus now holds 53,662 shares, the cost-free nature and scheduled vesting make the move non-informative about his view on future price performance. No selling pressure emerges, so the disclosure is neutral from a market-liquidity perspective.

Corporate Governance Expert

TL;DR: Compensation-driven share delivery increases alignment but offers limited governance signal.

The transaction stems from normal vesting under SFNC’s long-term incentive plan. Maintaining all shares rather than selling improves perceived commitment, yet the timing was predetermined. Investors should monitor future open-market purchases or sales for stronger sentiment cues. Overall governance impact is modest but directionally positive due to higher insider ownership.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Shoptaw Robert L

(Last) (First) (Middle)

C/O SIMMONS FIRST NATIONAL CORP.

501 MAIN STREET

(Street)

PINE BLUFF AR 71601

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SIMMONS FIRST NATIONAL CORP [ SFNC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
SFNC Common Stock	07/01/2025		M		929	A	(1)	84,574	D
SFNC Common Stock								4,800	I	by IRA

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	07/01/2025		M			929	(2)	(2)	SFNC Common Stock	929	$0	1,857(3)	D

Explanation of Responses:

1. Restricted Stock Units convert into shares of SFNC common stock on a one-for-one basis.

2. The Restricted Stock Units vested on July 1, 2025.

3. 929 Restricted Stock Units vest on October 1, 2025; and 928 Restricted Stock Units vest on January 2, 2026. SFNC shares will be delivered within 30 days of vesting. Events such as retirement, death, disability, and other specified events in the award agreement may result in earlier vesting.

	/s/ Ambar Quintanilla, attorney-in-fact for Robert L. Shoptaw	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many SFNC shares did Director Mark C. Doramus acquire on July 1, 2025?

1,882 shares were acquired through the conversion of vested RSUs.

What is Mark C. Doramus’ total SFNC shareholding after the Form 4 transactions?

Following the conversions, he owns 53,662 SFNC shares directly.

What transaction code was used in the SFNC Form 4 filed on July 3, 2025?

The filing lists transaction code “M”, indicating an exercise or conversion of derivative securities.

When will the remaining RSUs held by Mark C. Doramus vest?

953 shares are scheduled to vest on October 1, 2025, and 929/928 shares on January 2, 2026.

Did the director sell any SFNC shares in this Form 4 filing?

No. All shares were acquired and retained; there were no dispositions.