by Gwen Moritz
Posted 3/4/2014 03:35 pm
Updated 9 months ago
A cash incentive of nearly $600,000 bumped Judy McReynolds' total compensation as CEO of Arkansas Best Corp. above $1.54 million in 2013, according to company's annual proxy statement.
The Fort Smith trucking company's earnings swung to a profit of $15.8 million in 2013 after a loss of $7.7 million in 2012.
McReynolds' base salary ($575,000) remained steady, as did the $375,000 salary of Roy M. Slagle, the president and CEO of Arkansas Best's biggest subsidiary, ABF Freight. But stock options and a cash incentive of just under $290,000 — the company did not use the word bonus — pushed Slagle's compensation to just under $1.1 million.
The proxy statement, issued Friday, also said the trucking company will hold its annual shareholders meeting at 8 a.m. on April 23 at the corporate headquarters in Fort Smith.
The agenda includes re-electing directors, reappointing Ernst & Young LLP at outside auditor, giving non-binding approval to the executive compensation plan and amending the stock ownership plan that's been in place since 2005.
McReynold's total compensation of $1.54 million last year was an increase of 63 percent from 2012, but only about 15 percent more than she was paid in 2011. She did not realize any additional income by exercising stock options in 2013.
Slagle's income had also slumped in 2012, so his pay last year was an increase of 34 percent. He also realized $23,150 by exercising stock options in 2013.
Other executive compensation packages disclosed in the proxy:
- Senior Vice President James W. Keegan, in his first year as a named executive officer, was paid a base salary of $294,000 and received total compensation, including a $177,444 cash incentive, of $734,581. He cleared $11,270 by exercising stock options last year.
- SVP Jim A. Ingram received total compensation of $716,773, including salary of $306,917 and cash incentive of $195,047. That was an increase of 44 percent from 2012. He realized $1,184 from exercising stock options.
- Michael E. Newcity, chief financial officer and chief information officer, had total compensation of $633,310, including salary of $277,667 plus stock and cash awards. That was an increase of 39 percent from 2012.