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ArcBest Corp. CEO Gets $2.3M in 2014 Compensation

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ArcBest Corp. CEO Judy McReynolds made more than $2.3 million in 2014 thanks to a combination of cash incentives that totaled more than $1.3 million, the company said in its annual proxy statement.

ArcBest reported income of $46.2 million in 2014, an increase from $15.8 million in 2013. McReynolds received a bonus of nearly $890,000 for 2014 and $421,000 bonus for the three-year period of 2012-14.

McReynolds’ 2014 salary was $600,000 and she received stock awards of another $329,000. McReynolds made a slightly more than $1.54 million in 2013.

ArcBest announced its annual shareholders meeting will be at 8 a.m. May 1 at the corporate headquarters in Fort Smith. The agenda includes re-electing directors, reappointing Ernst & Young LLP as outside auditor, giving non-binding approval to the executive compensation plan and approving a change in the annual incentive plan for executive officers.

Former ABF Freight CEO Roy Slagle, who retired in October 2014 as the head of ArcBest’s largest subsidiary after 37 years with the company, received $1.38 million in 2013. Slagle, on a pro-rated basis, made $300,000 in salary, $546,000 combined in the yearly and three-year cash incentives and $240,000 in stock awards.

Slagle made slightly less than $1.1 million in 2013.

Tim Thorne was named to replace Slagle in October. Thorne’s pay for 2014 was not included in the proxy statement.

Slagle also received slightly more than $1 million a lump-sum payment from the company’s pension plan and $852,000 in a lump sum from the supplemental benefits plan. The company said Slagle will be paid more than $1.9 million from the supplemental plan six months after his retirement, and he will receive $540,000 from a deferred salary agreement to be paid over 120 months.

Slagle and ArcBest agreed to a three-year no-compete consulting contract shortly after his retirement that will pay him $27,000 a month.

Other executive compensation packages disclosed in the proxy:

  • ABF Logistics President Jim Ingram earned slightly more than $1 million, including a base salary of $330,00, cash incentives of $483,633 and $200,800 in cash awards. Ingram made $716,773 in 2013.
  • Senior Vice President J. Lavon Morton made $924,725, including a salary of $307,000, cash incentives of $404,817 and stock awards of $180,720. Morton made $710,912 in 2013.
  • Senior Vice President Michael Newcity, the company’s CFO, made $910,951, including $307,000 in base salary, $383,198 in cash incentives and $180,720 in stock awards. Newcity made $633,310 in 2013.
  • Vice President Michael R. Johns made $797,000, including $283,000 in base salary, $326,000 in cash incentives and $168,000 in stock awards. Johns, who was named vice president and general counsel in 2007, did not have his previous years’ incomes listed.
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