George Gleason's 2012 Salary Tops $1.2M

George Gleason, chairman and chief executive officer of Little Rock's Bank of the Ozarks Inc., received a 15.3 percent raise that boosted his 2012 salary to more than $1.2 million. 

But restricted stock awards represented the biggest component of his compensation package. Awards of more than $1.3 million helped push his compensation total to nearly $3.5 million, according to the company's most recent proxy statement

Salaries were the biggest items among compensation totals among four other top executives at the company. 

Tyler Vance, chief banking officer, received the largest percentage raise among the group. His salary grew by 23.8 percent to $260,000.

Dan Thomas, chief lending officer and president of the bank's real estate specialties group, received a 12.9 percent raise. His salary climbed to more than $1 million. 

Mark Ross, chief operating officer, received a 10 percent raise. His salary grew to $330,000.

Grey McKinney, chief financial officer, received an 8.6 percent raise. His salary grew to $315,000.

Information in the proxy included the four largest shareholders of record, deemed to be beneficial owners of stock:

  • FMR LLC of Boston, 10 percent worth $144.4 million.
  • Gleason, 59, chairman and CEO, 9 percent worth $141.9 million.
  • BlackRock Inc. of New York, 6.3 percent worth $90.5 million.
  • The Vanguard Group Inc. of Malvern, Pa., 5.6 percent worth $81.4 million.

Bank of the Ozarks will hold its annual shareholders meeting at 8:30 a.m. April 15 at its Little Rock corporate headquarters at 17901 Chenal Parkway. Shareholders are asked to vote on these items:

  • Electing 13 directors. The list includes two new nominees: Peter Kenny, 54, managing director of institutional sales trading at Knight Equity Markets Ltd. of Jersey City, N.J.; and Dan Thomas, 50, chief lending officer and president of the bank's real estate specialties group. They would replace: Mark Ross, chief operating officer, who has served as a director since 1992; and Kennith Smith, retired owner of Smith Cattle Farm and Mulberry Lumber Co., who has served as a director since 1997.
  • An amendment to the company's 2009 restricted stock plan that would increase the number of common shares authorized for issuance from 400,000 to 800,000 shares.
  • An amendment and restatement of the company's non-employee director stock option plan. 
  • Ratifying the audit committee's selection and appointment of the accounting firm of Crowe Horwath LLP of Oak Brook, Ill., as independent auditors for 2012. The company has performed this duty since 2006.
  • Holding an advisory, non-binding vote on the company's executive compensation.

In addition to Gleason, Kenny and Thomas, other proposed directors include Jean Arehart, 72, retired senior lending officer and director since 2002; Nicholas Brown, 54, president and CEO of Southwest Power Pool of Little Rock; Richard Cisne, 62, founding partner of the Little Rock accounting firm of Hudson Cisne & Co. and a director since 2004; Robert East, 65, chairman of the Little Rock general contracting firm of East-Harding Inc. and a director since 1997; Linda Gleason, 58, deputy CEO and assistant secretary of Bank of the Ozarks, wife of George Gleason and a director since 1987; Henry Mariani, 74, chairman of NLC Products Inc. of Little Rock and director since 1997; Robert Proost, 75, a retired A.G. Edwards executive and a director since 2011; R.L. Qualls, 78, retired president of Baldor Electric Co. of Fort Smith and a director since 1997; John Reynolds, 48, a pathologist and laboratory director for Memorial Hospital in Bainbridge, Ga.; and Sherece West-Scantlebury, 47, president and CEO of the Winthrop Rockefeller Foundation.