Stock Awards Push Simmons CEO's Total Pay to $4.6M

by Sarah Campbell-Miller  on Thursday, Mar. 14, 2019 10:30 am   1 min read

Simmons First National Corp. Chairman and CEO George Makris Jr. saw his total compensation double in 2018, to $4.6 million from $2.3 million in 2017, according to the company's proxy statement filed with the Securities & Exchange Commission this week.

His compensation includes a $745,000 salary, up from $687,500, and a bonus of $35,944, up from $30,000.

The most significant increase was in the value of his stock awards, which were valued at $2.3 million compared to $807,903 in 2017.

The six other Simmons executives saw their compensation decrease in 2018 compared to the year before.

  • CFO Robert Fehlman made $1.4 million, down from $1.9 million in 2017.
  • Marty Casteel, senior executive vice president, made $1.3 million, down from $1.8 million.
  • Stephen Massanelli, chief administrative officer and executive vice president, made $671,024, down from $877,752.
  • Patrick Burrow, executive vice president, general counsel and secretary, made $643,220, down from $846,615.
  • Mark Funke, Southwest Division president, made $899,430, down from $1.6 million.
  • Barry Ledbetter, Southeast Division president, made $909,950, down from $880,682 in 2017.

The company’s annual meeting is set for 8:30 a.m. April 17 in the Ryburn Community Room of its Pine Bluff headquarters at 501 Main St.

Shareholders will be asked to:

  • Keep at 15 the number of directors to be elected;
  • Re-elect the 15 directors whose terms expire on April 17;
  • Approve the compensation of the executive officers named by the company in its proxy;
  • Reappoint BKD LLP as independent auditors of the company and its subsidiaries; and
  • Vote on an amendment to the Simmons First National Corporation 2015 Employee Stock Purchase Plan to increase the number of offerings from 10 to 20 and the number of shares reserved for issuance from 200,000 to 500,000.

 

 

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