Industry veteran will lead P.A.M.
Joseph Vitiritto, 49, will be P.A.M. Transportation Services Inc.'s new president and chief executive officer, effective Aug. 18.
He succeeds Dan Cushman, who led the Tontitown-based trucking company for 11 years before retiring in May, and Matthew Moroun, who has been interim CEO since then, according to a recent shareholder filing.
Vitiritto will earn more than $850,000 at the helm of P.A.M.
Moroun will stay on as chairman of the company's board of directors.
Vitiritto has held various managerial roles at Knight-Swift Transportation Holdings Inc., and most recently was senior vice president of pricing and network design for about a year. He has more than 25 years of industry experience.
P.A.M. told shareholders that Vitiritto will be paid a base salary of $530,036 per year and a one-time cash bonus of $328,500. He also will receive 40,000 shares of company stock over the next several years and be eligible for bonus incentives in 2021, according to an 8-K form filed Wednesday with the U.S. Securities and Exchange Commission.
-- Nathan Owens
Uniti earnings call reset for Monday
Uniti Group Inc. announced Thursday that it has rescheduled its second-quarter earnings call for Monday.
"Our conference call is being rescheduled to allow the company additional time to finalize the appropriate financial accounting for the settlement agreement with Windstream," Chief Executive Officer Kenny Guderman said in a news release.
In May, the company reached a settlement agreement with Windstream to invest $1.75 billion in infrastructure improvements over 10 years.
The dial-in number for the conference call is (844) 513-7153 and the conference ID is 8959726. The call will also be webcast live and can be accessed at the company's website at www.uniti.com. A replay of the call will be available on the company's website or by telephone beginning about 7 p.m. Monday. The phone replay will be available for 14 days at (855) 859-2056 using the same conference ID number.
-- Andrew Moreau
State stock index retreats a little
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Thursday at 424.07, down 1.46.
"Equities continue to build in expectations for fiscal stimulus with the market advancing to within striking distance of the February S&P 500 index high and ahead of the July monthly payroll report due this morning," said Leon Lants, managing director at Stephens Inc.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.