ArcBest CEO Paid Less in 2019

Judy R. McReynolds, chairman, president and CEO of freight and logistics company ArcBest Corp. in Fort Smith.

ArcBest Corp. President and CEO Judy McReynolds made $2.4 million in total compensation in 2019, a drop from the $4.1 million she made in 2018, according to the annual proxy statement the company filed with the U.S. Securities & Exchange Commission.

The reason for the drop was the reduction in incentives paid to the company’s executives. In 2018, McReynolds and the other named executives had been paid significant bonuses from an incentive plan that covered 2016-18.

McReynolds’ pay included: salary of $744,471, up from $709,020 in 2018; stock options of $748,773, up from $726,002; and incentives of $831,689, a drop from $2.58 million a year ago.

ArcBest reported that McReynolds’ CEO compensation was a 15.80 ratio to the median employee’s income of $153,395.

Other executive compensation packages disclosed in the proxy were:

• Tim Thorne, president of ABF Freight, received total compensation of $1.23 million, down from $1.96 million. Thorne’s salary was $456,750, up from $435,000; he received $373,005 in stock and $379,316 in incentives, down from $1.1 million he received the year before.

• David Cobb, ArcBest CFO, received total compensation of $1.1 million, down from $1.6 million a year ago. It included salary of $420,027, stock options of $301,167 and incentives of $354,589, down from $943,725 a year ago. 

• James Ingram, ArcBest COO, received total compensation of $955,050, down from $1.56 million a year ago. It included salary of $347,423, up from $360,022, stock options of $251,433 and incentives of $307,574, down from $918,169 a year ago.

• Michael Newcity, ArcBest CIO and president of ArcBest Technologies, received total compensation of $949,102, down from $1.54 million a year ago. It included salary of $381,913, up from $367,224 a year ago, stock options of $245,907 and incentives of $302,902, down from $911,130 a year ago.

ArcBest said its annual shareholders meeting would be held at 8 a.m. May 1 at the company’s headquarters in Fort Smith. The agenda includes re-electing nine directors, reappointing Ernst & Young LLP as outside auditor, an advisory vote on executive compensation and a vote on an amendment to the ownership incentive plan.