CEO James Reed of USA Truck Inc. of Van Buren received total compensation of nearly $1.88 million in 2021, an increase from the $1.6 million he earned in 2020, according to a proxy filing the company filed with the U.S. Securities & Exchange Commission.
Reed’s compensation included salary of $511,250, up from $500,000, and stock awards of $749,835, up from $555,005. Reed received $597,004 in incentive-plan compensation, up from $558,097.
The company reported Reed’s total compensation was just shy of 42 times the median employee’s income of $44,643. USA Truck reported fiscal 2021 revenue of $710.4 million, up from $551.1 million the previous year, and 2021 income of $24.8 million, up from $4.7 million in 2020.
Total compensation for USA Truck’s other named executives were markedly up thanks to increase in stock awards.
Other named executives and their compensation:
- Timothy Guin, chief commercial officer, earned total compensation of $1.12 million in 2021, up from $691,025. That included a base salary of $317,500, stock awards of $508,395 and incentive compensation of $278,215; Guin had received $107,310 in stock awards in 2020.
- George Henry, senior vice president in charge of USAT Logistics, received total compensation of $813,498, up from $497,324. That included a base salary of $247,500, stock awards of $360,000 and nearly $200,000 in incentive compensation; Henry had received $62,310 in stock awards in 2020.
- Zachary King, CFO, received total compensation of $807,689 in 2021, up from $464,312. That included a base salary of $251,250, stock awards of $364,200 and $184,752 in incentive compensation; King had received $62,419 in stock awards in 2020.
- Kim Littlejohn, chief information officer, received total compensation of $620,787, up from $475,304. That included a base salary of $240,000, stock awards of $201,600 and $173,885 in incentive compensation; Littlejohn had received $62,310 in stock awards in 2020.
USA Truck announced its annual shareholders meeting would be held at 9 a.m. May 18 in Waxahachie, Texas.
The agenda includes the re-election of two of its seven board members and the reappointment of Grant Thornton LLP as the company’s independent auditor.