While returning to profitability last year, P.A.M. Transportation Services, Inc. of Tontitown raised compensation for Chief Executive Officer and President Daniel Cushman by $398,940, according to the company’s proxy statement filed this week.
Cushman’s total compensation was $886,124 for 2012, including $437,000 in salary. A bonus accounted for $150,000. Option awards and other compensation were $299,124.
Total pay also grew for the company’s two other executive officers, the report said.
Executive Vice President Larry Goddard received $349,752 in 2012, up from $300,390 the previous year. Chief Financial Officer Lance Stewart was awarded $323,142, up from $197,405.
The report asked shareholders to re-elect six directors to the eight-member board. The board currently has two vacancies.
The company has set its annual stockholders’ meeting for 9 a.m. May 23, at the company’s Tontitown headquarters.
On Feb. 6, the truckload dry van carrier recorded earnings of $2.18 million for 2012. According to the company’s annual statement, it was the first profitable year since at least 2008. In 2011, P.A.M. Transport reported a loss of $2.86 million.
The company has about 3,000 employees, including about 2,500 company drivers.
Business, Pages 26 on 04/27/2013