President and CEO Dan Cushman of PAM Transport Inc. of Tontitown received a salary bump but his overall compensation was lower in 2015, according to a proxy statement filed by the company with the Securities & Exchange Commission.
Dan Cushman no longer has to ask his accountants if PAM Transport Inc. of Tontitown has made money this month. Now, he said, he gets to ask the much more fun question of how much money the company made. The trucking company’s current financial health stands in stark contrast to those dark months that made up 2008-09.
Driver recruiting and retention — we’ll lump them together as one entity — is one of the biggest challenges facing the industry. Recent federal regulations with strict guidelines regarding drive and break times only complicate trucking companies’ ability to attract and keep drivers, officials said.
Allen West, the company’s chief financial officer, said the property at 1401 McNeil Drive is basically a mechanics shop and a waiting room, but the company wants to add amenities to make it more driver-friendly.
The quarterly earnings were released on the same day as the company's annual proxy statement, which revealed that CEO Daniel Cushman received total compensation of $720,034 in 2013, down $150,000 from the previous year.
The company has completed a monthlong “Dutch auction” in which P.A.M. agreed to buy 675,000 outstanding shares of its stock for $20.50 per share. The outlay of $13.8 million won’t slow the company down, CFO Allen West says.