CEO John Roberts of J.B. Hunt Transport Services Inc. of Lowell saw his total compensation increase in 2020 but he wasn’t the highest earning executive at the company, according to a proxy statement the company filed with the U.S. Securities & Exchange Commission.
That honor went to former CFO David Mee, who retired April 1, 2020 after 28 years with the company. Mee earned total compensation of $7.6 million, largely because of a retirement grant of $5.1 million in stock.
Mee earned $2.5 million in total compensation in 2019.
Roberts was just behind Mee in total compensation. Roberts received $7.45 million in 2020, up from $6.6 million in 2019.
Roberts’ salary was $912,115, up from $892,542, and he received $6.5 million in stock awards, up from $5.6 million the year before. A year ago, Roberts received more than $92,000 for use of the company plane; he received no compensation this year because the company said he had a personal account with a discounted fee with the jet company.
J.B. Hunt reported that Roberts’ CEO compensation was a 111 ratio to the median employee’s income of $67,154. The company reported it had 29,070 employees, of whom 28,798 were full time.
Other named executives and their compensation:
- Shelley Simpson, chief commercial officer and former president of the Highway Services division, received total compensation of $3.5 million, up from $2.5 million in 2019. Simpson’s salary was $541,500, up from $521,784, and she received stock awards of $2.78 million, up from $1.99 million. Simpson was named executive vice president of people and human resources in November.
- Nicholas Hobbs, executive vice president and president of the Contract Services division, earned total compensation of $3.3 million, which included salary of $541,500 and stock options of $2.8 million. In 2019, Hobbs earned total compensation of $2.5 million, which included salary of $502,601 and stock options of $1.99 million.
- Terrence Matthews, former president of the Intermodal division, earned total compensation of $3.1 million, which included salary of $301,490 and a stock grant of $2.8 million when he retired after 34 years with the company in July. His total compensation in 2019 was $3 million, including salary of $523,991, stock awards of $2.5 million and stock options of $2.475 million.
- John Kuhlow, who was named CFO on March 1, earned total compensation of $1.4 million, including salary of $231,123 and stock awards of $1.1 million.
- Darren Field, who was named intermodal president on April 1, earned total compensation of $2.5 million, including salary of $387,368 and stock awards of $2.1 million.
J.B. Hunt announced its annual shareholders meeting will be at 10 a.m. April 22 at company’s headquarters in Lowell. The meeting will have a virtual option with restricted in-person attendance.
The agenda includes re-electing the 10-member board of directors and affirming Ernst & Young LLP as independent auditor.
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