John Tyson, chairman of Tyson Foods, and three Wal-Mart executives have been among the many 5 highest paid executives at Arkansas public corporations in 2015, based on the companies’ proxy statements.
Tyson earned $21.2 million, together with virtually $12.5 million from the worth of exercised inventory choices.
Doug McMillon, Wal-Mart’s chief government officer, made $19.6 million; Gregory Foran, a Wal-Mart government vice chairman, earned $11.5 million; and Neil Ashe, one other government vice chairman, made $10.eight million.
[FULL CHART: Arkansas executive pay in 2015]
Roger Jenkins, chief government officer at Murphy Oil, had the third highest revenue final yr at $12.3 million.
The excessive salaries aren’t unusual for executives at a number of the nation’s prime corporations, stated Brent Longnecker, chief government officer at Longnecker & Associates, an government-compensation consulting agency in Houston.
Nationally, at least six chief government officers made greater than $50 million final yr, in response to a list of the very best paid chief government officers revealed in The New York Times. Dara Khosrowshahi of Expedia earned virtually $95 million final yr to prime the list.
“Most of that compensation is on the long-term incentive side, I am sure,” Longnecker stated. “That shows that those guys are not only performing well, but they are doing a good job in — I wouldn’t say a bad economy — but an interesting economy. [Tyson and McMillon] are doing a good job for companies that big.”
The 96 executives on the list of Arkansas companies earned a complete of greater than $293 million, a mean of greater than $3 million per government. The $293 million is a rise of about 3 % from $284 million earned in 2014.
The common is greater than 135 occasions the typical per capita annual revenue of $22,595 in Arkansas, in accordance with the U.S. Census Bureau.
Two-thirds of the 96 executives made greater than $1 million final yr.
The info was compiled from the newest proxy statements of 20 public corporations in Arkansas. A proxy assertion, despatched to stockholders yearly to offer details about the annual assembly, consists of particulars of enterprise that may carried out at the assembly and the revenue of the corporate’s prime executives.
The Arkansas Democrat-Gazette calculates government compensation utilizing The Associated Press’ method of including wage, bonus, incentives, perks, above-market returns on deferred compensation, the estimated worth of inventory choices and grants awarded through the yr and different revenue reminiscent of retirement contributions and insurance coverage premiums paid on the executives.
The three Dillard brothers had the very best worth of executives’ inventory with greater than $320 million every. The inventory of Alex Dillard, the agency’s president, is value about $460 million. William Dillard II, the corporate’s chief government officer, has about $356 million in inventory and Mike Dillard, an government vice chairman, had about $324 million in inventory.
The youngsters of Sam Walton, founding father of Wal-Mart Stores Inc., personal greater than $117 billion within the corporation’s inventory, the very best worth of any nonexecutive at the 20 public corporations.
Alice Walton, Jim Walton, Rob Walton and the property belief of John Walton collectively share about 1.6 billion shares of Wal-Mart inventory.
Bank returns
The shares of three of the general public banks in Arkansas have been among the many companies with the very best return on funding.
Bank of the Ozarks had the most effective return among the many 20 public corporations on a $100, 5-yr funding. Investing $100 in Bank of the Ozarks on Dec. 31, 2010, would have returned $486 on Dec. 31, 2015.
Home BancShares was second with a return of $394 over the 5 years. Simmons First National was fifth with a return of $206 over 5 years.
All three banks have been properly-positioned through the recession, stated Matt Olney, a Little Rock banking analyst with Stephens Inc.
“All three banks were able to be aggressive coming out of the downturn [in 2008-2009],” Olney stated. “That allowed each of them to make a number of acquisitions.”
Since 2010, Bank of the Ozarks has made 15 acquisitions, Home BancShares had 14 purchases and Simmons made 9. Most of these have been outdoors Arkansas and virtually half of them have been failed banks purchased by means of the Federal Deposit Insurance Corp.
How nicely the banks carry out over the subsequent 5 years relies upon largely on the well being of the financial system, Olney stated. And it depends upon how the financial system performs in every of the markets the place the three banks have workplaces, Olney stated.
“Each one of those three banks have very good senior management and a very good underwriting culture,” Olney stated. “So each one is in probably a relatively good spot to continue to grow.”
Family ties
The proxies additionally typically embrace insider details about different executives at the businesses.
Deltic Timber administrators Madison Murphy, Robert Nolan and Christoph Keller III are first cousins, and director Hunter Pierson is married to a primary cousin of Murphy, Nolan and Keller. The households of those 4 administrators collectively personal 26 % of Deltic.
Murphy, Claiborne Deming and Caroline Theus are first cousins and administrators of Murphy Oil. Together they personal about 5 % of Murphy Oil’s inventory.
First cousins Murphy, Deming and Keller are administrators for Murphy USA and personal about 6 % of the Murphy USA inventory.
Brothers William, Alex and Mike Dillard personal virtually 100 % of the corporate’s Class B shares. They and their sister Drue Matheny personal about 11 % of Dillard’s Class A shares.
Five different family members are included within the Dillard’s proxy.
Denise Mahaffy, a senior vice chairman and sister of William, Alex and Mike Dillard and Drue Matheny, made $747,000 final yr. She additionally was paid a bonus of about $246,000 on April 1, 2016, for the 2015 yr.
William Dillard III, a senior vice chairman, made $736,000 for 2015 plus a bonus of about $246,000 that was paid on April 1, 2016.
Alexandra Dillard, a divisional merchandise supervisor and daughter of Alex Dillard, earned $311,000 final yr. Annemarie Dillard, a supervisor and daughter of Alex Dillard, made $288,000 final yr. And Michelle Dillard, additionally a daughter of Alex Dillard and an organization supervisor, was employed in June 2015 at a wage of $160,000.
Stephens Insurance, which is owned by Dillard’s director Warren Stephens, acquired commissions of about $1.9 million from the sale of insurance coverage advantages to Dillard’s staff.
Lori Haynie, sister of Wal-Mart’s Doug McMillon, is an government officer of Mahco Inc. of Bentonville. Wal-Mart paid Mahco about $27 million final yr for purchases of sporting items merchandise.
Greg Bray, a senior director in Wal-Mart’s finance division, is McMillon’s brother-in-law and made virtually $345,000 final yr.
Brittney Duke, a senior director in Wal-Mart’s advertising division, is the daughter of director Michael Duke and made virtually $300,000 final yr.
Four different kinfolk of Wal-Mart officers or administrators earned between $163,000 and $215,000 final yr.
Arvest Bank of Fayetteville, which is owned by Jim Walton, Rob Walton and the John Walton property belief, and a few of Arvest’s subsidiaries paid about $500,000 to Wal-Mart to lease area in supercenters and Neighborhood Markets. Jim Walton is chairman of Arvest, the second-largest financial institution based mostly in Arkansas.
Home BancShares has greater than $5o million in loans excellent with its administrators and officers. All the loans have been made underneath regulatory necessities, the financial institution stated in its proxy assertion.
Two sons-in-law of J.B. Hunt Transport Services Inc. Chairman Kirk Thompson earned $333,000 and $164,000 final yr. The husband of Shelley Simpson, a J.B. Hunt government vice chairman, made $543,000 final yr.
The daughter of Donnie Smith, chief government officer of Tyson Foods, was paid about $121,000 final yr as director of steady enchancment coaching.
Stephen Young, son of ArcBest Chairman Robert Young III, earned virtually $138,000 because the director of warehousing for ABF Logistics, an ArcBest subsidiary.
SundayMonday Business on 08/21/2016
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