ArcBest Corp. CEO Judy McReynolds made slightly more than $6 million in total compensation in fiscal year 2021, a jump from the $4.2 million she earned in 2020, according to a proxy statement the company filed with the U.S. Securities & Exchange Commission.
McReynolds, who is also the company’s president and chairman of the board, received $4.13 million from the company’s incentive plan in 2021 after getting $2.5 million in 2020. McReynolds’ salary was $824,000, up from $800,000, and she received $990,774 in stock awards, up from $806,238.
ArcBest (Nasdaq: ARCB) reported McReynolds’ CEO compensation was more than 70 times the median employee’s income of $85,105.70. It is the second consecutive year the ratio has seen a big jump; in 2020 McReynolds’ compensation was 46.23 times greater, and in 2019 it was 15.8.
In 2019, the median employee’s income was $153,395. In 2020, it was $90,310.
McReynolds led ArcBest to its most profitable year in history in 2021. She won Business Executive of the Year at this year's Arkansas Business of the Year Awards.
Other named executives and their compensation:
- David Cobb, chief financial officer, received total compensation of $2.6 million, up from $1.7 million. Cobb’s salary was $475,000, up from $430,500, and he received nearly $400,000 in stock awards, up from $304,960. He received $1.7 million in incentive plan compensation, up from $960,477.
- Michael Newcity, the president of ArcBest Technologies, received total compensation of $2.01 million, up from $1.47 million. Newcity’s salary was $403,297, up from $391,550, and he received $269,421 in stock awards, up from $253,498. He received $1.32 million in incentive plan compensation, up from $808,672.
- James Ingram, chief operating officer, received total compensation of $1.96 million, up from $1.46 million. Ingram’s salary was $383,350, which remained unchanged, and he received $269,421 in stock awards, up from $253,498. He received $1.29 million in incentive plan compensation, up from $803,082.
- Dennis Anderson, chief customer officer, received total compensation of $1.93 million. His total compensation was reported for the first time. Anderson’s salary was $401,700, he received stock awards of $269,421 and $1.23 million in incentive plan compensation.
ArcBest said its annual shareholders meeting would be held at 8 a.m. April 27 at the company’s headquarters in Fort Smith; the meeting will be held in-person and virtually.
The agenda includes electing nine directors and reappointing Ernst & Young LLP as the company’s independent auditor.