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USA Truck CEO Pay Drops in 2020

2 min read

CEO James Reed of USA Truck Inc. of Van Buren received total compensation of $1.6 million in fiscal 2020, down from the $1.8 million he received in 2019, according to a proxy statement the company filed with the U.S Securities & Exchange Commission.

Compensation was down for all but one of USA Truck’s named executives in 2020. Stock awards were lower and no option awards were given in 2020, but those were mostly offset by incentive plan compensation.

USA Truck reported revenue of $551.1 million in 2020, up from $522.6 a year ago, and fiscal income was $4.7 million, up from a loss of $4.7 million.

Reed’s compensation included a base salary of $500,000, an increase from $493,750, and stock awards of $555,005, down from $778,657. Reed’s incentive compensation was $558,097, up from $106,300.

USA Truck reported that Reed’s CEO compensation was a 30.4-to-1 ratio to the median employee’s income of $43,079.

Other named executives and their compensation:

Timothy Guin, chief commercial officer, earned total compensation of $691,025 in 2020, down from $805,143. That included a base salary of $310,000, stock awards of $107,310 and incentive compensation of $259,515.

Zachary King, who became CFO after Jason Bates resigned in April 2020, earned total compensation of $464,312 in 2020. That included a base salary of $228,389, stock awards of 62,419 and incentive compensation of $167,429.

Bates, now the CFO at Daseke, Inc., received total compensation of $199,594 in 2020, down from the $1.2 million he received for a full year at USA Truck in 2019. Bates received $82,500 in stock awards and $114,232 in incentive compensation; he forfeited 71,939 shares and 27,333 options when he left the company.

George Henry, senior vice president in charge of USAT Logistics, received total compensation of $497,324 in 2020, down from $639,911. That included a base salary of $240,000, stock awards of $62,310 and incentive compensation of $188,714.

Kim Littlejohn, chief information officer, received total compensation of $475,304 in 2020, an increase from $468,388. That included a base salary of $240,000, stock awards of $62,310 and incentive compensation of $167,429.

USA Truck also announced its annual shareholders meeting would be held virtually at 9 a.m. May 7. The agenda includes the re-election of Reed and Gary Enzor to the company’s seven-member board of directors and the reappointment of Grant Thornton LLP as the company’s independent auditor.

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