ArcBest Corp. of Fort Smith CEO Judy McReynolds received $4.5 million in total compensation in 2024, according to a proxy filed by the company with the U.S. Securities & Exchange Commission on Friday.
McReynolds’ compensation was a drop from $6.3 million, as every named executive by the company saw reduced pay in 2024 compared to 2023. McReynolds’ compensation included salary of $927,000 and stock awards of $989,749.
McReynolds received $2.5 million in incentive plan compensation, down from $4.1 million a year ago. The company adjusted its incentive plan metrics a year ago.
The company said McReynolds’ CEO compensation was 58 times the median employee’s income of $77,386.
Seth Runser, the company president, received total compensation of $1.5 million, down from $2.03 million. His compensation included salary of $526,535, stock awards of $269,142 and incentive plan bonuses of $696,288.
Michael Newcity, president of the company’s technologies division, received total compensation of $1.24 million, down from $1.86 million. His compensation included salary of $444,972, stock awards of $214,156 and incentive plan bonuses of $562,430.
Chief Strategy Officer Dean Anderson received total compensation of $1.2 million, down from $1.87 million. His compensation included salary of $430,301, stock awards of $176,534 and incentive plan bonuses of $560,642.
CFO Matthew Beasley received total compensation of $973,345, down from $1.1 million. His compensation included $468,500, stock awards and $237,308 and incentive plan bonuses of $251,837.
ArcBest posted a profit of $173.9 million in 2024, up 22.4% from $142.2 million in 2023. Revenue was $4.2 billion, down 5.6% from $4.4 billion.
Shares of the company (Nasdaq: ARCB) have fallen more than 40% over the past year to $74.
ArcBest announced its annual shareholders meeting will be at 7:30 a.m. on April 25 at the company’s headquarters in Lowell. The agenda includes electing the nine-member board of directors, and reappointing Grant Thornton LLP as independent auditor.
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