by Gwen Moritz
Posted 7/12/2013 11:24 am
Updated 1 year ago
Hank Henderson, CEO of America's Car-Mart of Bentonville, got a 26 percent raise in his base salary in 2012, and the company's CFO and COO each got raises of 32 percent.
The salary data was included in the annual proxy report released last week. The proxy also announced that the annual shareholders meeting will be held at 10 a.m. Aug. 21 at corporate headquarters at 802 S.E. Plaza Ave., Suite 200, in Bentonville.
Car-Mart's fiscal year begins on May 1 of each year, so salary figures for the fiscal year and calendar year are different. Between fiscal 2011 and fiscal 2013, which ended April 30, Henderson's base salary increased from $350,000 to $440,000, and the proxy says he got a raise of 26 percent in January 2012.
He also received a $25,000 cash bonus in fiscal 2013 and other cash incentives of $101,338. When all other compensation is included, his total pay was $581,226.
None of the three named executives of America's Car-Mart received any stock awards or stock options, and none exercised any options in fiscal 2013.
The salary of CFO Jeffery A. Williams increased from $250,000 in fiscal 2011 to $330,000 in fiscal 2013, and he got a raise of 32 percent in January 2012, according to the proxy. He also received a $20,000 cash bonus and other cash incentives of $56,749 in the most recent fiscal year. His total compensation for fiscal 2013 was $438,216.
COO Eddie L. Hight's salary history has been identical to Williams' over the past three fiscal years, increasing from $250,000 to $330,000. And he also received $56,749 in cash incentive pay in fiscal 2013, but he did not receive the same $20,000 cash bonus as Williams. His total compensation was $427,938.
At the meeting next month, shareholders will be asked to re-elect the six current members of the board of directors, to approve the executive compensation structure and to reappoint Grant Thornton LLP as the company's outside auditor.