Base Salaries Up, But Incentive Pay Down For Officers at Arkansas Best

Arkansas Best Corp. President and CEO Judy McReynolds.

Arkansas Best Corp. CEO Judy McReyolds earned $945,386 in 2012, a drop of more than $400,000 from the previous year, according to the company’s proxy statement released on Tuesday.

McReynolds received a base salary of $575,000, along with stock awards of $242,055, deferred compensation earnings of $97,574 and other compensation of $30,757. While her base salary increased by $50,000 from 2011, McReynolds saw a drop in stock awarded and last year was paid $383,093 as “non-equity incentive plan” compensation.

Arkansas Best, which will hold its shareholders meeting at 8 a.m. May 21 at its headquarters in Fort Smith, reported a net loss of $7.7 million in 2012 on revenue of $2.1 billion. Overall compensation for executive officers of the company was down in 2012, though base salaries were up.

Other executive pay for Arkansas Best:

• Roy M. Slagle, president and CEO of Arkansas Best subsidiary ABF Freight, earned $815,694. Slagle’s total included $375,000 in base salary, $176,040 in stock awards, $220,608 in deferred payment and $44,046 in other compensation.
• J. Lavon Morton, senior vice president of tax and chief audit executive, was paid $476,752. Morton’s payout for 2012 included a $294,000 base salary and $132,030 in stock awards.
• Jim A. Ingram, senior vice president of strategic development, was paid $498,130, including $294,000 in base salary. He also saw $132,030 in stock awards during his first year in that role.
• Michael E. Newcity, vice president and chief financial officer, earned $454,426. His payment included $124,695 in stock awards.

Arkansas Best, which released its proxy statement more than a month later than usual, has been negotiating with the Teamsters since last December. Last month, the two parties agreed to extend negotiations past the March 31 expiration of their existing contract.