ArcBest Corp. CEO Judy McReynolds made $2.26 million in 2015, down slightly from the $2.3 million she made in 2014, the company reported in its annual proxy statement filed with the Securities & Exchange Commission.
ArcBest reported income of $44.9 million in 2015, a slight decrease from the $46.2 million it reported in 2014. McReynolds earned $642,000 in salary, up from $600,000 the year before, $1 million from non-equity incentive plan compensation for one-year and three-year periods and $543,000 in stock awards.
ArcBest announced it annual shareholders meeting will be at 8 a.m. April 26 at the corporate headquarters in Fort Smith. The agenda includes re-electing directors, reappointing Ernst & Young LLP as outside auditor and a vote on the Annual Incentive Compensation Plan.
There are 10 directors up for re-election, compared to nine a year ago. ArcBest added Kathy McElligott and Stephen Gorman to the board of directors in July and both are up for full one-year terms.
Former CEO Robert Young announced he will retire from the company after the annual meeting in April. Young has been on the board of directors since 1970 and served as CEO from 1988-2006.
McReynolds will serve as the chairman on the board in addition to being the company’s president and CEO.
Young earned $284,000 in compensation in 2015, including $122,000 for serving as chairman of the board. He received $97,000 in stock awards and $64,851 in other compensation that included personal administrative assistance, use of a company lodging and hunting property for business entertainment purposes and the company paying for his spouse’s travel to company and industry events.
Other executive compensation packages disclosed in the proxy:
- ABF Logistics President Jim Ingram earned slightly more than $1 million in 2015, which was approximately $45,000 less than he made in 2013. Ingram earned $345,000 in salary, $227,520 in stock awards and $432,411 in incentives.
- ABF Freight President Tim Thorne earned slightly more than $1 million in 2015, which included $387,500 in salary, $255,960 in stock awards and $354,645 in incentives. Thorne’s 2014 compensation was not released; he joined the company in October 2014.
- Senior Vice President J. Lavon Morton earned $959,226, which included $330,000 in salary, $209,745 in stock awards and $386,137 in incentives. Morton made $924,725 in 2014.
- Vice President and CFO David Cobb earned $783,627 in 2015, including $307,494 in salary, $181,305 in stock awards and $275,229 in incentives. Cobb was promoted to CFO in December 2014.
