Sec Form 4 Filing - TOALSON VALERIE @ Cadence Bancorporation - 2021-10-29

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person TOALSON VALERIE 2. Issuer Name and Ticker or Trading Symbol Cadence Bancorporation [ CADE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) EVP & Chief Financial Officer (Last) (First) (Middle) C/O CADENCE BANCORPORATION, 2800 POST OAK BOULEVARD, SUITE 3800 3. Date of Earliest Transaction (MM/DD/YY) 10/29/2021 (Street) HOUSTON, TX77056 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Class A Common Stock, par value $0.01 per share 10/29/2021 D 61,042 A 61,042 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Class A Common Stock, par value $0.01 per share $ 18.98 10/29/2021 D 232,024 ( 2 ) 01/15/2022 Common Stock 232,024 ( 3 ) 0 D Class A Common Stock, par value $0.01 per share $ 20.86 10/29/2021 D 27,493 ( 2 ) 02/05/2019 Common Stock 27,493 ( 4 ) 0 D Class A Common Stock, par value $0.01 per share ( 5 ) 10/29/2021 D 7,087 01/15/2022 01/15/2022 Common Stock 7,087 ( 6 ) 0 D Class A Common Stock, par value $0.01 per share ( 5 ) 10/29/2021 D 12,939 04/01/2022 04/01/2022 Common Stock 12,939 ( 7 ) 0 D Class A Common Stock, par value $0.01 per share ( 5 ) 10/29/2021 D 12,939 04/01/2023 04/01/2023 Common Stock 12,939 ( 8 ) 0 D Class A Common Stock, par value $0.01 per share ( 5 ) 10/29/2021 D 12,940 04/01/2024 04/01/2024 Common Stock 12,940 ( 9 ) 0 D Class A Common Stock, par value $0.01 per share ( 10 ) 10/29/2021 A 16,795 01/15/2022 01/15/2022 Common Stock 16,795 ( 10 ) 16,795 D Class A Common Stock, par value $0.01 per share ( 10 ) 10/29/2021 A 22,237 03/31/2024 03/31/2024 Common Stock 22,237 ( 10 ) 39,031 D Class A Common Stock, par value $0.01 per share ( 10 ) 10/29/2021 D 16,795 01/15/2022 01/15/2022 Common Stock 16,795 ( 11 ) 22,237 D Class A Common Stock, par value $0.01 per share ( 10 ) 10/29/2021 D 22,237 03/31/2024 03/31/2024 Common Stock 22,237 ( 12 ) 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other TOALSON VALERIE C/O CADENCE BANCORPORATION 2800 POST OAK BOULEVARD, SUITE 3800 HOUSTON, TX77056 EVP & Chief Financial Officer Signatures Jerry W Powell, Attorney-In-Fact for Valerie C Toalson 11/01/2021 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Disposed of in connection with this Agreement and Plan of Merger by and between BancorpSouth Bank ("BXS") and Cadence Bancorporation ("CADE"), dated April 12, 2021 and amended as of May 27, 2021 (the "Merger Agreement"), pursuant to which Cadence was merged with and into BXS, effective October 29, 2021 (the "Merger). Pursuant to the Merger, each issued and outstanding share of Cadence common stock par value $0.01 was converted into the right to receive .70 shares of BXS's common stock par value $2.50 per share (the "Exchange Ratio"). The opening price of the BXS's common stock on the NYSE on the effective date of the Merger was $29.16. As a result of the Merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of Cadence Common Stock. ( 2 )Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding and unexercised option to purchase shares of Cadence common stock shall be equitably adjusted immediately prior to the Effective Time by an amount equal to the special cash dividend of $1.25 per share of Cadence common stock (the "Special Dividend") declared and paid by Cadence prior to the effective time of the Merger and automatically converted into an option to purchase shares of the BXS common stock, with the number of underlying shares and the exercise price determined as set forth in the Merger Agreement. Each option to purchase shares of BXS common stock is subject to the same terms and conditions (including vesting and exercisability terms) as the corresponding option to purchase shares of Cadence common stock immediately prior to the effective time of the Merger. ( 3 )This option was replaced with an option to purchase 162,416 shares of BXS common stock at an exercise price of $27.11 per share. ( 4 )This option was replaced with an option to purchase 19,245 shares of BXS common stock at an exercise price of $29.80 per share. ( 5 )Represents time-vested restricted stock units each convertible into one share of Common stock under the Amended and Restated Cadence Bancorporation 2015 Omnibus Incentive Plan (the "Plan"). Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding Cadence time-vested restricted stock unit automatically converted into a BXS time-vested restricted stock unit convertible into shares of BXS common stock based on the Exchange Ratio. Each BXS time-vested restricted stock unit is subject to the same terms and conditions (including vesting terms) as applied to the corresponding Cadence time-vested restricted stock unit immediately prior to the effective time of the Merger. ( 6 )These time-vested restricted stock units were replaced with BXS time-vested restricted stock units convertible into an aggregate of 4,960 shares of BXS common stock. ( 7 )These time-vested restricted stock units were replaced with BXS time-vested restricted stock units convertible into an aggregate of 9,057 shares of BXS common stock. ( 8 )These time-vested restricted stock units were replaced with BXS time-vested restricted stock units convertible into an aggregate of 9,057 shares of BXS common stock. ( 9 )These time-vested restricted stock units were replaced with BXS time-vested restricted stock units convertible into an aggregate of 9,058 shares of BXS common stock. ( 10 )Represents performance share units, each convertible into one share of Cadence common stock, under the Plan. Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding Cadence performance share unit automatically converted into a BXS restricted stock unit convertible into shares of BXS common stock, with the number of underlying shares of BXS common stock determined based on the Exchange Ratio and higher of target performance and actual performance. Each BXS restricted stock unit is subject to the same terms and conditions (other than performance conditions) as applied to the corresponding Cadence performance share unit immediately prior to the effective time of the Merger. ( 11 )These performance share units were replaced with BXS restricted stock units convertible into an aggregate 11,756 shares of BXS common Stock. ( 12 )These performance share units were replaced with BXS restricted stock units convertible into an aggregate 15,565 shares of BXS common stock.

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).

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