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J.B. Hunt Raises Executives’ Base Pay

1 min read

The board of J.B. Hunt Transport Services Inc. has approved increases in the annual base salary the transportation firm pays four of its five top executives.

• CEO John Roberts saw his base salary rise from $595,000 to $635,000.

• EVP Terry Matthews, president of the Lowell company’s intermodal division, received an increase to $400,000 from $372,500.

• EVP and CFO David Mee’s base salary rose to $395,000 compared with $365,000.

• EVP and COO Craig Harper’s base salary increased to $375,000 from $370,000.

• Chairman Kirk Thompson’s base salary fell to $500,000 compared with $550,000 last year.

The base annual salary the company pays its top executives typically is but a small portion of their total compensation package, which can include stock or option awards and bonus pay. For example, Roberts’ total compensation in 2011 was $7.9 million, based on the company’s annual report.

J.B. Hunt has continued to outperform the other three Arkansas-based publicly traded trucking companies throughout the recession and subsequent recovery.

Earlier in October, the company reported a 14 percent increase in third-quarter profit as growth in its intermodal business outpaced gains in the company’s trucking segment.

The company (Nasdaq: JBHT) reported third-quarter net income of $78.2 million, or 65 cents per share, up from net income of $68.7 million, or 57 cents per share, during the same quarter last year.

Revenue also increased, up 11 percent to almost $1.3 billion.

In addition, the value of J.B. Hunt’s stock has soared, pushing its shareholders’ fortunes to new heights this year on Arkansas Business’ list of top stockholders.

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