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USA Truck Inc. of Van Buren reported that CEO and President James Reed received slightly more than $1.8 million in total compensation in fiscal year 2019.
Reed’s compensation was an increase from the $1.6 million he received in 2018. Reed’s pay included $493,750 in salary and $778,657 in stock awards, according to a proxy statement the company filed with the U.S. Securities & Exchange Commission.
Reed also received $439,347 in stock options in 2019. That covered the decrease in incentive compensation paid to Reed and other named executive officers by the company; Reed received $106,300, much less than the $436,046 he made in 2018.
Fiscal 2019 was a tough year for USA Truck, which reported revenue of $522.6 million, down from $534 million in 2018. The company reported an annual loss of $4.7 million in 2019, down from a profit of $12.2 million in 2018.
USA Truck reported that Reed’s CEO compensation was a 47.5-to-1 ratio to the median employee’s income of $38,401.
Other named executives and their compensation:
Jason Bates, former CFO who resigned in April, earned total compensation of $1.2 million, down from $1.3 million the previous year. His compensation included a base salary of $327,500, stock awards of $509,230 and stock options worth $341,891. His incentive compensation was $47,835, down from more than $220,000 the year before.
When Bates left the company, USA Truck named Zachary King as his replacement and set his annual salary at $240,000 for 2020.
Timothy Guin, chief commercial officer, earned total compensation of $805,143 in 2019, down from $1.05 million. That included a base salary of $307,750, stock awards of $323,548 and stock options worth $159,646. He received no incentive compensation after receiving $137,699 in 2018.
George Henry, senior vice president in charge of USAT Logistics, received total compensation of $639,911, up from $537,629 in 2018. That included a base salary of $237,570, stock awards of $213,781 and stock options worth $119,736. He received no incentive compensation after taking home $107,577 the previous year.
Kim Littlejohn, chief technology officer, received total compensation of $468,388, up from $442,587. That included a base salary of $237,968, stock awards of $160,212 and stock options worth $63,858.