SFNC SIMMONS FIRST NATIONAL CORP

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q3 2024: $20M, Q3 2023: $45M, Q2 2023: $50M, Q1 2023: $16M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $20M vs trailing avg $37M (-46%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-109M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 7,817,898 shares = 5.4% of 144,762,817 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

19 open-market purchases by 12 insiders

• COSSE STEVEN A () bought 8,603 shares at $17.44 on 2025-10-30
• Garner David W (EVP, Chief Accounting Officer) bought 3,000 shares at $17.66 on 2025-10-22
• TEUBNER RUSSELL WILLIAM () bought 2,000 shares at $18.63 on 2025-08-07
• TEUBNER RUSSELL WILLIAM () bought 9,200 shares at $18.62 on 2025-08-07
• TEUBNER RUSSELL WILLIAM () bought 4,050 shares at $18.50 on 2025-07-23
• MAKRIS GEORGE JR (Chairman & CEO) bought 17,550 shares at $18.50 on 2025-07-23
• MAKRIS GEORGE JR (Chairman & CEO) bought 17,550 shares at $18.50 on 2025-07-23
• MAKRIS GEORGE JR (Chairman & CEO) bought 2,425 shares at $18.50 on 2025-07-23
• MAKRIS GEORGE JR (Chairman & CEO) bought 2,700 shares at $18.50 on 2025-07-23
• MAKRIS GEORGE JR (Chairman & CEO) bought 5,400 shares at $18.50 on 2025-07-23

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters and 19 insider purchases by 12 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected