Posted 10/30/2012 03:17 pm
Updated 2 years ago
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.