J.B. Hunt Tweaks Timing of Annual Stock Awards for Top Execs

A change in the timing of annual stock awards resulted in smaller compensation packages for executives of J.B. Hunt Transport Services Inc. of Lowell — at least as reflected in the firm’s latest proxy statement filed with the U.S. Securities & Exchange Commission.

The statement shows total compensation for John Roberts III, president and CEO, at $859,252 last year, a sharp decline from the $5.5 million he earned in 2016. The package includes Roberts’ annual salary, $833,865, an increase from $807,747 in 2016. 

But the company’s compensation committee moved the timing of annual stock awards to January 2018, a month later than the period covered by the proxy statement. Those awards are listed in another area of the proxy, and they show Roberts received $4.8 million in stock awards, based on the closing price of company shares, $125.65, on Jan. 24. 

Roberts’ stock amount for 2016 was $4.6 million.

Roberts did not receive a bonus in 2017; his bonus for 2016 was $96,000.

For fiscal year 2017, J.B. Hunt reported revenue of $7.2 billion, an increase from $6.6 billion in 2016. Income for 2017 was $686 million, up from $432 million in 2016.

Other named executives and their compensation:

• David Mee, executive vice president and CFO, earned $507,143 that included salary of $488,154 and $18,989 in other compensation. In January, he received an additional $1.7 million in stock awards. In 2016, Mee’s salary was $480,660, and his total compensation was $2.46 million.
• Shelley Simpson, executive vice president, chief commercial officer and president of Highway Services, earned $504,973, which included salary of $485,000 and $19,973 in other compensation. In January, she received an additional $1.7 million in stock awards. Simpson’s salary in 2016 was $476,923, and her total compensation was $2.2 million.
• Nicholas Hobbs, executive vice president and president of Dedicated Contract Services, earned $493,788 in total compensation, including salary of $475,000 and $18,788 in other compensation. In January, he received an additional $1.7 million in stock awards. In 2016, Hobbs’ salary was $454,808 and his total compensation was $2.2 million.
• Terrence Matthews, executive vice president and president of the Intermodal Division, earned $509,960 in 2017, which included salary of $490,202 and $19,758 in other compensation. In January, he received an additional $1.7 million in stock awards. Matthews’ salary in 2016 was $478,819 and his total compensation was $1.3 million.

Chairman of the Board Kirk Thompson was paid $355,610 in 2017, of which $350,000 was salary. His 2016 salary was $350,000. 

The company announced its annual shareholders meeting will be 10 a.m. April 19 at its corporate headquarters in Lowell.

The agenda includes:

• The re-election of its 10-member board of directors;
• Reappointing Ernst & Young LLP as outside auditors;
• A shareholder’s proposal submitted by the International Brotherhood of Teamsters for the company to report political contributions; and
• A stockholder’s proposal to adopt company-wide, quantitative, science-based targets to reduce greenhouse gas emissions and to report on the company’s plans and progress towards achieving these targets.