Compensation increased for two of the most highly paid executives at Pine Bluff’s Simmons First National Corp.
Total compensation for Robert Fehlman, chief financial officer, ballooned nearly 64 percent to $1.9 million. Stock awards valued at $990,221 accounted the lion’s share of the increase over his $1.2 million total reported a year ago.
Marty Casteel, senior executive vice president, saw his total compensation grow by 54 percent to more than $1.7 million. Stock awards also valued at $990,221 provided the biggest boost to his $1.1 million total tallied 12 months ago.
Total compensation for chairman and CEO George Makris Jr. decreased 4.6 percent to less than $2.3 million. It was the only decline among the top five reported in the company’s proxy statement filed yesterday.
Fewer stock and option awards largely accounted for the change although his salary increased 10 percent to $687,500.
Among directors, Makris held the largest block of Simmons stock, 529,728 shares worth about $15.9 million.
Mark Funke, president and CEO of Bank SNB in Oklahoma City, and Paul Kanneman, executive vice president chief information officer, round out the top five. Both joined Simmons in 2017.
Funke’s total compensation approached $1.6 million, powered by stock awards of worth $1.1 million. Kanneman’s topped $920,000, backed by stock awards of $543,169.
Shareholders at $9.4 billion-asset Simmons will vote on:
- Fixing the number of directors at 15.
- Re-electing 15 directors.
- Adopting a non-binding resolution approving the compensation of the named executive officers.
- Ratifying the audit committee’s selection of the BKD LLP of Springfield, Missouri as independent auditors
- Amending the articles of incorporation to increase the number of authorized shares of Class A common stock from 120 million to 175 million.
The Simmons First annual shareholders meeting will be held at 8:30 a.m. Thursday, April 19 in the Ryburn Community Room at the company’s headquarters at 501 Main St. in Pine Bluff.