v3.25.2
Employee Benefit and Deferred Compensation Plans
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Employee Benefit and Deferred Compensation Plans Employee Benefit and Deferred Compensation Plans
(In Thousands, Except Share Data)
Pension and Post-retirement Medical Plans
The Company sponsors a noncontributory defined benefit pension plan, under which participation and benefit accruals ceased as of December 31, 1996, and it provides retiree medical benefits, consisting of the opportunity to purchase coverage at subsidized rates under the Company’s group medical plan.
Information related to the defined benefit pension plan maintained by Renasant Bank (“Pension Benefits”) and to the post-retirement health and life plan (“Other Benefits”) as of the dates presented is as follows:
Pension BenefitsOther Benefits
Three Months EndedThree Months Ended
 June 30,June 30,
 2025202420252024
Interest cost$237 $227 $5 $6 
Expected return on plan assets(267)(248)— — 
Recognized actuarial loss (gain)122 129 (22)(24)
Net periodic benefit cost (return)$92 $108 $(17)$(18)
Pension BenefitsOther Benefits
Six Months EndedSix Months Ended
 June 30,June 30,
 2025202420252024
Interest cost$474 $454 $10 $11 
Expected return on plan assets(534)(496)— — 
Recognized actuarial loss (gain)243 258 (44)(47)
Net periodic benefit cost (return)$183 $216 $(34)$(36)

Incentive Compensation Plans
The Company maintains the 2020 Long-Term Incentive Compensation Plan, a long-term equity compensation plan that provides for the award of restricted stock and the grant of stock options. The Company awards performance-based restricted stock to executives and other officers and employees and time-based restricted stock to non-employee directors, executives, and other officers and employees.
The following table summarizes the changes in restricted stock as of and for the six months ended June 30, 2025:

Performance-Based Restricted StockWeighted Average Grant-Date Fair ValueTime-Based Restricted StockWeighted Average Grant-Date Fair Value
Nonvested at beginning of period203,115 $34.32 801,181 $35.08 
Awarded75,644 36.17 342,020 35.24 
Vested— — (247,442)37.03 
Cancelled— — (9,140)35.17 
Nonvested at end of period278,759 $34.82 886,619 $34.60 

The Company inherited a separate long-term equity compensation plan, The First Bancshares, Inc. 2007 Stock Incentive Plan (as amended, the “2007 Stock Incentive Plan”) through its merger with The First. Awards outstanding as of the date of the merger were converted into adjusted restricted stock awards in respect to Renasant common stock, subject to the same terms and conditions.
The following table summarizes the changes in restricted stock since the merger date for the three months ended June 30, 2025:
Time-Based Restricted StockWeighted Average Grant-Date Fair Value
Nonvested at beginning of period— $— 
Awarded (converted)426,321 33.93 
Vested(1,000)33.93 
Cancelled— — 
Nonvested at end of period425,321 $33.93 

During the six months ended June 30, 2025, the Company reissued 208,299 shares from treasury in connection with awards of restricted stock. The Company recorded total stock-based compensation expense of $4,304 and $3,374 for the three months ended June 30, 2025 and 2024, respectively, and $8,084 and $7,366 for the six months ended June 30, 2025 and 2024, respectively.
There were no stock options granted or outstanding, nor compensation expense associated with options recorded, during the six months ended June 30, 2025 or 2024.