A Murphy USA gas station, owned by Murphy Oil Corp., at 4448 E McCain Blvd in North Little Rock.
Two top executives at Murphy USA Inc. of El Dorado received boosts to total compensation in 2014, according to the company’s proxy filed Thursday with the U.S. Securities and Exchange Commission.
Andrew Clyde, the company’s president and CEO, received about $5.1 million in total compensation last year, including a base salary of $818,750, about $1.9 million in stock awards and $1.6 million in non-equity incentive plan compensation.
That’s up from about $4.2 million in total compensation, which included a base salary of $420,417, about $1.2 million in stock awards and about $1.1 million in non-equity incentive plan compensation in 2013.
Jeffrey Goodwin, senior vice president of retail operations, also received a total compensation increase. Goodwin received $1.1 million in total compensation, including a base salary of $331,458, $250,777 in stock awards and $386,414 in non-equity incentive plan compensation.
That’s up from about $1.1 million in total compensation, including a base salary of $277,500, $225,000 in stock awards and $393,973 in non-equity incentive plan compensation in 2013.
In February, the company (NYSE: MUSA) wrapped up what Clyde called an “outstanding first year,” reporting fiscal 2014 net income of $243.1 million, or $5.24 per diluted share, compared with $156.3 million the year before, or $3.34 per diluted share. It was the retail gas station operator’s first year on its own after breaking off from Murphy Oil Corp. of El Dorado (NYSE: MUR) in August 2013.
Other executives and their compensation:
- Mindy West, executive vice president and CFO/treasurer — total compensation of $2 million, including base salary of $468,333, $538,252 in stock awards and $682,479 in non-equity incentive plan compensation. West received total compensation of about $4 million in 2013.
- John Moore, senior vice president, general counsel and secretary — total compensation of about $1.4 million, including base salary of $382,417, $336,408 in stock awards and $445,821 in non-equity incentive plan compensation. Moore received total compensation of more than $1.4 million in 2013.
- Marn Cheng, senior vice president, retail operations and support — total compensation of $1 million, including base salary of $323,292, $220,194 in stock awards and $345,486 in non-equity incentive plan compensation. This is the first year Cheng is a named executive officer.
- John Rudolfs, former executive vice president of marketing — Rudolfs resigned from the company in May. His total compensation package was about $1.3 million, but of that total, he forfeited more than $518,000 in stock awards and option awards. Rudolfs received total compensation of about $1.1 million in 2013.
The company also announced details of its next shareholders’ meeting, which is scheduled for 1 p.m. May 6 at the South Arkansas Arts Center in El Dorado.
During the meeting, shareholders will vote whether to:
- Re-elect three Class II directors whose terms expire May 6. Those directors are Fred Holliger, former chairman and CEO of Giant Industries; James W. Keyes, chairman and CEO of Wild Oats LLC; and Diane N. Landen, owner and president of Vantage Communications Inc.
- Approve executive compensation on an advisory, non-binding basis.
- Ratify the board’s appointment of KPMG LLP as the company’s accounting firm.
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