J.B. Hunt shareholders to meet
by March 20, 2012 2:18 pm 133 views
Shareholders of J.B. Hunt Transport Services have plenty to celebrate with respect to record $257 million profits in 2011 and a favorable outlook from Wall Street analysts in 2012.
The locally based trucking titan set its annual shareholder meeting for 10 a.m., Thursday, April 26 at the corporate offices in Lowell.
The agenda is light as usual with three items, namely the re-election of nine directors for the coming year. The directors will serve a one-year term for a base compensation of $135,000, plus additional stipends for committee service and meeting attendance, according to the recent proxy filing with the Securities and Exchange Commission.
Board of Directors
Douglas G. Duncan
Francesca M. Edwardson
Wayne Garrison
Sharilyn S. Gasaway
Gary C. George
Bryan Hunt
Coleman H. Peterson
John N. Roberts III
James L. Robo
William J. Shea Jr.
Kirk Thompson
Shareholders will also be asked to approve an amendment to the company’s management incentive plan and ratify the appointment of Ernst & Young as the independent accounting firm for 2012.
Hunt’s top management team was rewarded with handsome bonuses in 2011 and modest salary increases helping boast total compensation from the prior year.
Longtime leader Kirk Thompson stepped down as CEO at the end of 2010 to assume the duties of board chairman. His total compensation increased 16.85% in 2011 to $3.55 million.
CEO John Roberts III earned a total of $5.34 million during his first year at the helm. His 2011 base salary was $549,019 with a stock award in excess of $4.73 million and a bonus of $412,500.
Craig Harper, chief operating officer, earned a total $1.28 million in 2011 which included a base salary of $370,000; $629,400 in company stock with a bonus of $277,000. Harper’s total compensation increased 8.18% from 2010.
David Mee, chief financial officer, earned a base salary of $352,308 in 2011. His stock award totaled $624,900 with a performance bonus of $262,500. In 2011 Mee has a total compensation of $1.25 million, down 22% from the prior year because of fewer stock awards.
J.B.Hunt’s management team helped the company boost profits up 28.7% from 2010. The company’s annual revenues (including fuel surcharges) rose 19.5% to $4.53 billion compared $3.79 billion to 2010. Hunt’s fiscal year coincides with the calendar year.