Attached files
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| 8-K - FORM 8-K - HUNT J B TRANSPORT SERVICES INC | jbht20180125_8k.htm |
Exhibit 99.1
SUMMARY OF COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS
On January 24, 2018, the Board of Directors of J.B. Hunt Transport Services, Inc. (the “Company”), through its Executive Compensation Committee or independent directors, approved the following compensation for each of the Company's named executive officers. All base salaries are effective February 4, 2018. The following compensation excludes awards which may be made under our Management Incentive Plan:
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All Other |
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Base |
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Bonus |
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Compensation |
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Named Executive Officer |
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Salary |
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($) |
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($) |
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John N. Roberts, III |
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President and CEO |
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$845,000 |
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(1) |
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(3), (4) |
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Terry Matthews |
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EVP, President of Intermodal |
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$497,125 |
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(1) |
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(3), (4) |
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David G. Mee |
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EVP, Finance and Administration and CFO |
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$497,125 |
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(1) |
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(3), (4) |
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Shelley Simpson |
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EVP, President of ICS and Truckload and CMO |
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$497,125 |
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(1) |
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(3), (4) |
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Nicholas Hobbs |
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EVP, President of DCS |
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$486,875 |
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(1) |
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(3), (4) |
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Kirk Thompson |
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Chairman of the Board |
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$365,000 |
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(2) |
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(3), (4) |
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(1) |
The Company has a performance-based bonus program that is related to the Company’s operating income for calendar year 2018. According to the 2018 Company bonus plan, each of the Company’s named executive officers may earn a bonus ranging from zero to 55% of the Executives’ annual base salary. The Company also has a Performance Growth Incentive (PGI) bonus plan for calendar year 2018 that is related to the Company’s net revenue and earnings before taxes for calendar year 2018. Under the plan, John Roberts, as President and CEO, may earn a bonus ranging from zero to 125% of base salary. Each other named executive officer may earn a bonus ranging from zero to 100% of base salary. |
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(2) |
Kirk Thompson, as Chairman of the Board, is not eligible to participate in the 2018 Company Bonus Plan or the 2018 PGI Bonus Plan. |
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(3) |
The Company will reimburse each named executive officer up to $10,000 for actual expenses incurred for legal, tax and estate plan preparation services. |
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(4) |
The Company has a 401(k) retirement plan that includes matching contributions on behalf of each of the named executive officers. The plan is expected to pay each named executive officer approximately $6,000 during 2018. |
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