Bonus plan approved for USA Truck execs
USA Truck executives are eligible for a management bonus plan approved by a compensation committee of the company’s board of directors.
Bonuses ranging from 20 percent to 125 percent of the executives’ base salaries were approved for three executives of the Van Buren-based transportation firm, according to a filing Tuesday with the Securities and Exchange Commission. Executives will be paid in cash and equity in amounts tied to certain company achievements.
Chief Executive Officer John Simone is eligible for bonuses of 25 percent to 125 percent of his base salary. Simone was hired in February 2013 at an annual salary of $460,000.
Cliff Beckham, USA Truck’s former CEO and current chief financial officer, is eligible for bonuses ranging from 20 percent to 100 percent of his base salary. Michael Weindel, an executive vice president, is also eligible for bonuses of 20 percent to 100 percent of his base salary.
Equity awards, paid in the form of restricted stock, will be figured at a rate of between 10 percent and 30 percent of pre-tax income. Each year, the equity awards will vest a rate of “one-fourth per year beginning on the anniversary date of the grant, conditioned on continued employment and certain other … provisions,” according to the filing.
- Chris Bahn
Tyson chairman sells 336,895 of his shares
Tyson Foods Inc. Chairman John Tyson sold shares worth $12,990,671, according to documents filed Tuesday with the Securities and Exchange Commission.
Tyson sold 336,895 shares he directly owned for $38.56 per share. He still owns 1,868,160 shares of Tyson stock. Tyson Foods’ stock rose 79 cents, or 2 percent, to close Tuesday at $39.60 on the New York Stock Exchange.
- Tina Parker
Ukraine fears easing, state index up 7.79
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, jumped 7.79 to 331.56 Tuesday.
“Stocks rebounded following Monday’s losses as tensions eased over the situation in Ukraine,” said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
Arkansas Best and Deltic Timber were standouts, with both issues gaining more than 6 percent, Williams said.
Dillard’s was the sole declining Arkansas Index component, falling 0.8 percent on light volume, Williams said. Reaching 52-week highs were Bank of the Ozarks and Acxiom.
Volume for the index was 30.8 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 25 on 03/05/2014