J.B. Hunt Raises Executives' Base Pay

by Jan Cottingham  on Tuesday, Oct. 30, 2012 3:17 pm  

J.B. Hunt CEO John Roberts III saw a base salary increase of nearly 6.8 percent.

The board of J.B. Hunt Transport Services Inc. has approved increases in the annual base salary the transportation firm pays four of its five top executives.

• CEO John Roberts saw his base salary rise from $595,000 to $635,000.

• EVP Terry Matthews, president of the Lowell company's intermodal division, received an increase to $400,000 from $372,500.

• EVP and CFO David Mee's base salary rose to $395,000 compared with $365,000.

• EVP and COO Craig Harper's base salary increased to $375,000 from $370,000.

• Chairman Kirk Thompson's base salary fell to $500,000 compared with $550,000 last year.

The base annual salary the company pays its top executives typically is but a small portion of their total compensation package, which can include stock or option awards and bonus pay. For example, Roberts' total compensation in 2011 was $7.9 million, based on the company's annual report.

J.B. Hunt has continued to outperform the other three Arkansas-based publicly traded trucking companies throughout the recession and subsequent recovery.

Earlier in October, the company reported a 14 percent increase in third-quarter profit as growth in its intermodal business outpaced gains in the company's trucking segment.

The company (Nasdaq: JBHT) reported third-quarter net income of $78.2 million, or 65 cents per share, up from net income of $68.7 million, or 57 cents per share, during the same quarter last year.

Revenue also increased, up 11 percent to almost $1.3 billion.

In addition, the value of J.B. Hunt's stock has soared, pushing its shareholders' fortunes to new heights this year on Arkansas Business' list of top stockholders.

 

 

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