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Pay for Murphy USA CEO Andrew Clyde Slips to $5.8M

2 min read

Even as a big fourth-quarter pushed Murphy USA’s full-year profits to $245 million in 2017, CEO Andrew Clyde settled for a little smaller payday last year.

His total compensation at the El Dorado gasoline and convenience retailer was a comfortable $5.8 million, but still a bit less than the nearly $6.2 million he received in 2016. Executive Vice President and CFO Mindy K. West did slightly better, earning total compensation of $2.27 million compared with $2.15 million in 2016.

The numbers were reported Thursday in a proxy statement filed with the Securities & Exchange Commission in Washington.

Murphy USA, one of the nation’s largest fuel and convenience store chains, benefited from a $125 million fourth-quarter profit boosted by the corporate tax cut pushed through Congress in December. The $245 million annual income in 2017 amounted to $6.78 per diluted share of stock, beating 2016’s $5.59 per diluted share.

“The business was resilient against continued headwinds and challenging macroeconomic conditions,” Clyde said in a statement in January.

The performance paid off for Executive Vice President Daryl R. Schofield, who became a named executive officer at the company last year and was paid just over $2 million. John A. Moore, senior vice president and general counsel, received $1.31 million, nearly matching his 2016 total of $1.36 million. John P. Corrigan, senior vice president for strategy and Development, was paid nearly $1.29 million.

The company, which has some 1,450 locations nationwide, will hold its annual stockholders meeting at 8 a.m. May 3 at the South Arkansas Arts Center in El Dorado. Executive pay will be one topic, and shareholders will vote on the election of four directors whose terms on the board are expiring. They are Fred L. Holliger, former chairman and CEO of Giant Industries, a fuel and convenience retailer; James W. Keyes, chairman of Wild Oats LLC; Diane N. Landen, owner and president of Vantage Communications Inc.; and David B. Miller, co-founder and managing partner of EnCap Investments L.P. All but Miller have been directors since August 2013. Miller joined the board in January 2016.

The proxy statement also listed compensation for directors, led by Chairman of the Board Madison Murphy, whose fees, stock awards and other compensation totaled $359,470. Other directors and their compensation were Claiborne P. Deming, $214,470; Thomas M. Gattle Jr., $193,470; Holliger, $199,470; Christoph Keller II, $198,220; Keyes, $201,470; Landen, $199,470; Miller, $185,470; and Jack T. Taylor, $237,970.

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