Shelley Simpson received more than $11 million in total compensation in fiscal 2024 as the new CEO of J.B. Hunt Transport Services Inc. of Lowell, according to a proxy filed by the company with the U.S. Securities & Exchange Commission on Friday.
Simpson, who had served as president since 2022, was promoted to CEO on July 1 to replace John Roberts. She earned $11.3 million in compensation, up from $4.7 million in 2023; the big boost came from $6.4 million in stock awards related to her promotion to CEO.
Simpson, 53, received salary of $857,323 in 2024 and $10.4 million in stock awards after receiving $3.9 million in stock awards in 2023. For the second consecutive year, no named J.B. Hunt executive received incentive bonuses.
Roberts, now the company’s chairman of the board, received $8.5 million in total compensation, up from $8.3 million in 2023. Roberts’ compensation included salary of $933,839, down from $997,692, and stock awards of $7.5 million, up from $7.2 million,
J.B. Hunt said it calculated its CEO to employee pay ratio using Roberts’ compensation since he held the position at the time of the reporting. The company said Roberts’ CEO compensation was 101 times the median employee’s income of $84,947.
COO Nick Hobbs received total compensation of $3.16 million, up from $3.04 million. His compensation included salary of $697,115 and stock awards of $2.44 million.
Darren Field, the president of the company’s intermodal division, received total compensation of $3.04 million, up from $2.9 million. His compensation included salary of $592,692 and stock awards of $2.4 million.
CFO John Kuhlow received total compensation of $2.6 million, up from $2.5 million. His compensation included salary of $593,862 and stock awards of $2 million.
Bradley Hicks, president of the company’s Dedicated Contract Services division, received total compensation of $2.8 million in his first year as a named executive. His compensation included salary of $595,481 and stock awards of $2.2 million.
J.B. Hunt reported a profit of $571 million in 2024, down 21.6% from $728 million in 2023. Revenue was $12.09 billion, down 5.8% from $12.83 billion.
Shares of the company (Nasdaq: JBHT) were trading at $149.33 on Monday morning, down more than 12% over the past 12 months.
J.B. Hunt announced its annual shareholders meeting will be at 10 a.m. April 24 at the company’s headquarters in Lowell. The agenda includes electing the nine-member board of directors, with former Walmart Inc. CFO Brett Biggs as a first-time candidate, and reappointing PricewaterhouseCoopers LLP as independent auditor.
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