FIRST HORIZON CORP — Director's Dealing 2006

Jan 26, 2006

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: FIRST HORIZON NATIONAL CORP (FHN)
CIK: 0000036966
Period of Report: 2006-01-17

Reporting Person: Makowiecki Peter F (President, Mortgage Banking)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	669	Direct
Common Stock	1275	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to buy)	$29.44	2011-01-15	Common Stock (7500)		Direct
Stock Options (Right to buy)	$30.48	2011-02-23	Common Stock (6492)		Direct
Stock Options (Right to buy)	$30.48	2011-02-23	Common Stock (2051)		Direct
Stock Options (Right to buy)	$35.14	2012-02-28	Common Stock (8004)		Direct
Stock Options (Right to buy)	$35.14	2009-02-26	Common Stock (5800)		Direct
Stock Options (Right to buy)	$38.74	2010-03-03	Common Stock (5418)		Direct
Stock Options (Right to buy)	$40.34	2012-04-22	Common Stock (3375)		Direct
Stock Options (Right to buy)	$45.73	2011-02-17	Common Stock (4705)		Direct

Footnotes

F5: Options are exercisable 50% after 3 yrs, 100% after 4 yrs, with vesting accelerated if issuer stock price equals or exceeds $62.54 on 2/17/07 or on 5 consecutive days before 2/18/07.

F4: Options are exercisable 50% after 3 yrs, 100% after 4 yrs.

F3: Options are exercisable 50% after 3 yrs, 100% after 4 yrs, with vesting accelerated if issuer stock price equals or exceeds $52.98 on 3/3/06 or on 5 consecutive days before 3/4/06.

F2: Options are exercisable 50% after 3 yrs, 100% after 4 yrs, with vesting accelerated if issuer stock price equals or exceeds $48.06 on 2/26/05 or on 5 consecutive days before 2/27/05.

F1: Option granted in lieu of compensation. Exercise price = 80% of grant date FMV. 20% discount = amount of compensation deferred.