Pinnacle Financial re-elects board, approves executive pay

Pinnacle Financial Partners Inc. (NASDAQ:PNFP), a $7.3 billion market cap financial institution currently rated with "GOOD" financial health by InvestingPro, conducted its 2025 Annual Meeting of Shareholders, where it saw the re-election of its board members and approval of executive compensation.

During the meeting held on April 15, 2025, shareholders voted to re-elect all 12 directors for another year term. The directors, including Abney S. Boxley, III, Charles E. Brock, and others, will continue their roles until their successors are elected and qualified. The company has maintained a strong track record of dividend payments for 13 consecutive years, demonstrating consistent shareholder returns.

Additionally, the appointment of Crowe LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified. This decision was made with a majority of votes in favor, signaling shareholder confidence in the firm’s ability to audit the company’s financial statements.

The non-binding advisory vote on the compensation of the company’s named executive officers was also approved. This vote is an indication that shareholders are generally satisfied with the company’s approach to executive compensation.

The voting results for the directors’ elections showed a significant majority in favor, with Abney S. Boxley, III receiving 56,860,879 votes for, and the least votes against at 4,965,220. The ratification of Crowe LLP saw an overwhelming approval with 65,710,117 votes for and only 2,356,146 votes against.

The approval of executive compensation was also passed with 58,175,527 votes for, 3,455,512 against, and 869,354 abstentions.

Pinnacle Financial Partners, headquartered in Nashville, Tennessee, is a bank holding company and financial services provider. The company’s common stock and depositary shares are traded on The Nasdaq Stock Market under the symbols PNFP and PNFPP, respectively.

The information reported is based on a press release statement from the company’s recent SEC filing.

In other recent news, Pinnacle Financial Partners reported strong earnings growth and stable credit metrics for the first quarter of 2025, although Keefe, Bruyette & Woods (KBW) adjusted its price target for the company from $130 to $115, maintaining a Market Perform rating. The adjustment was influenced by a more conservative outlook on net interest income growth and provisions for credit losses. In a positive development, Moody’s Ratings affirmed Pinnacle Financial’s ratings and upgraded its outlook to stable, citing improved capitalization and reduced exposure to commercial real estate construction lending. Additionally, Pinnacle Financial declared dividends for common and preferred shareholders, with a cash dividend of $0.24 per common share payable on May 30, 2025. The firm also announced updates to its charter and fiscal address, filed with the Tennessee Secretary of State, which do not impact its financial operations. Moreover, Pinnacle Financial’s shares were previously rated with a $130 target by KBW due to robust growth and a stable credit outlook, though macroeconomic headwinds were noted as potential challenges. Despite these headwinds, the company’s core deposit growth and BHG earnings have shown significant improvement. The firm’s ongoing commitment to transparency is reflected in its recent 8-K filing with the Securities and Exchange Commission.

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