ArcBest CEO McReynolds Gets Big Pay Bump


ArcBest CEO McReynolds Gets Big Pay Bump
Judy R. McReynolds, chairman, president and CEO of freight and logistics company ArcBest Corp. in Fort Smith. (Photo courtesy of ArcBest)

ArcBest Corp. President and CEO Judy McReynolds made nearly $4.2 million in total compensation in fiscal year 2020, a jump from the $2.4 million she made in 2019, according to the annual proxy statement the company filed with the U.S. Securities & Exchange Commission.

The compensation bump was a result of the company's incentive plan, which paid an annual incentive and a three-year incentive in January. In 2018, when McReynolds also received double bonuses, her compensation was slightly less than $4.1 million.

ArcBest in Fort Smith reported income of $71.1 million in 2020, up from $39.99 million in 2019. Fiscal income for 2018 was $67.3 million.

McReynolds, who is also chairman of the board of directors, earned $800,000 in base salary in 2020, up from $744,471 in 2019. McReynolds annual incentive plan paid nearly $1.6 million and the multi-year incentive was $938,080.

ArcBest reported that McReynolds' CEO compensation was a 46.23 ratio to the median employee's income of $90,310, which represents a steep increase from a year ago when McReynolds' compensation was a 15.8 ratio; McReynolds' compensation was lower and the median employee's income was $153,395 a year ago.

The company reported 12,686 employees in the U.S. as of Oct. 1. A year ago, the company employed 13,768.

Other executive compensation packages disclosed in the proxy were:

  • Tim Thorne, president of ABF Freight, received total compensation of more than $1.9 million, up from $1.23 million. Thorne, who will retire in June, received a salary of $468,425, up from $456,750, and his incentive plan payments were more than $1 million, up from $379,316.
  • David Cobb, ArcBest CFO, received total compensation of more than $1.7 million, up from slightly less than $1.1 million. Cobb’s salary was $430,500, up from $420,027, and his incentive payments were more than $960,000, up from $354,589.
  • Michael Newcity, CIO and ArcBest Technologies president, received total compensation of more than $1.47 million, up from $949,102. Newcity’s salary was $391,550, up from $381,913, and his incentive payments were $808,672, up from $302,902.
  • James Ingram, COO, received total compensation of $1.46 million, up from $955,050. Ingram’s salary was $383,350, up from $374,423, and his incentive plan payments were $803,082, up from $307,574.

ArcBest said its annual shareholders meeting would be held virtually at 8 a.m. April 29. 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.