Two of the three executives at Little Rock’s Uniti Group Inc. made less in 2021, even though the company swung back from a loss and saw revenue increase for the year, according to a proxy statement the company filed with the Securities and Exchanges Commission on Thursday.
No previous compensation was listed for Uniti’s third executive, new CFO and Senior Vice President Paul Bullington, because he was not a named executive in proxy statements filed for other years.
Bullington replaced Mark Wallace, who was also executive vice president and took a sudden leave of absence in May, citing health reasons. Wallace left the company in September.
Total compensation for Kenny Gunderman, CEO and president, declined to $5.02 million in 2021 from $6.79 million in 2020. His salary was unchanged at $725,000. Gunderman's total pay in 2021 included $3.14 million in stock awards, $1.14 million in cash incentives and $14,042 in other compensation. The stock awards and incentives were down by $814,176 and $950,837, respectively, compared to 2020.
Also, the company reported that Gunderman’s total compensation was approximately 57 times the median employee’s income of $88,158.
Daniel Heard, executive vice president and general counsel, received total compensation of $1.57 million in 2021, down from $2.38 million in 2020. His salary was unchanged at $400,000. His total compensation included $646,259 in stock awards, $510,112 in cash incentives and $13,430 in other compensation. The stock awards and incentives were down $543,784 and $259,648, respectively, compared to 2020.
Bullington’s total compensation was $899,899. It included a $312,511 salary plus $52,306 in stipend payments. He received a monthly stipend of $15,000 when he served as the interim CFO. Bullington also received a $40,000 bonus, $170,389 in stock awards, $182,365 in cash incentives and $115,328 in other compensation.
The company's stockholders will vote during a virtual annual meeting at 7 a.m. May 26 on re-electing six directors and continuing to do business with auditors KPMG LLP.
Former CFO Wallace’s total compensation was also listed in the company 2021 proxy. It increased thanks to $3.39 million in other compensation that included severance payments of $509,022, accelerated equity payments of $2.86 million, and health, vision and dental insurance benefits of $3,697. Wallace made a total of $4.75 million in 2021 compared to $3.27 million in 2020.