Nearly every named executive at J.B. Hunt Transport Services Inc. of Lowell saw drops in his or her total compensation with the absence of incentive plan bonuses in 2019.
CEO and President John Roberts III received total compensation of $6.59 million, a decrease from the $6.8 million he received in 2018, according to a proxy statement the company filed with the U.S. Securities & Exchange Commission.
Roberts’ compensation included salary of $892,542, up from $845,298 a year ago, and stock options of $5.56 million, up from $4.88 million a year ago.
In 2018, Roberts received a bonus of nearly $1.1 million but received no bonus this past year. He received $92,428 from use of the company jet in 2019.
Other named executives and their compensation:
- David Mee, executive vice president and CFO, earned $2.53 million that included a salary of $523,224 and stock options of nearly $2 million. In 2018, Mee earned total compensation of $2.75 million that included salary of $498,618 and an incentive bonus of $490,805.
- Shelley Simpson, executive vice president, chief commercial officer and president of the Highway Services division, earned total compensation of $2.54 million that included salary of $521,784 and stock options of nearly $2 million. In 2018, Simpson earned total compensation of $2.75 million that included salary of $498,618 and an incentive bonus of $490,805.
- Nicholas Hobbs, executive vice president and president of the Dedicated Contract Services division, earned total compensation of $2.53 million that included salary of $520,601 and stock options of nearly $2 million. In 2018, Hobbs earned total compensation of $2.74 million that included salary of $485,505 and an incentive bonus of $487,730.
- Terrence Matthews, executive vice president and president of the Intermodal division, earned total compensation of $3.08 million that included salary of $523,991 and stock options of $2.475 million. In 2018, Matthews earned total compensation of $2.76 million that included salary of $500,630 and an incentive bonus of $490,805.
The company announced that Mee and Matthews had signed retirement agreements in February. Mee, 59, retired effective March 1 and will serve as a consultant until April 1; Matthews, 61, will leave the company April 1 and be replaced by Darren Field as the executive vice president and president of Intermodal.
Mee joined the company in 1992 and will receive stock valued at $6.6 million. Matthews joined the company in 1986 and will receive stock valued at $2.49 million.
J.B. Hunt announced its annual shareholders meeting will be held at 10 a.m. April 23 at company’s headquarters in Lowell. The agenda includes re-electing the 10-member board of directors, affirming Ernst & Young LLP as independent auditor and shareholders’ proposals calling for reports on the company’s political contributions and initiatives to combat climate change.
In January, the publicly traded logistics firm (Nasdaq: JBHT) reported fourth-quarter net income of $144.7 million, up 63% from $88.7 million in the same quarter last year. Net income was $1.35 per share, up from 81 cents per share in the same quarter last year. But results fell short of Wall Street expectations of $1.52 per share.
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