Roger Jenkins, chief executive officer of Murphy Oil Corp., was paid $13.4 million last year, the El Dorado-based company said in its recently released proxy statement.
Jenkins' salary was $1.3 million and he was paid $9.3 million in stock awards and $2.8 million in other income.
Murphy Oil's other top executives and their income last year were: David Looney, chief financial officer, $4.2 million; John Eckart, executive vice president, $1.3 million; Eugene Coleman, executive vice president, $4.7 million; Michael McFadyen, executive vice president, $4.2 million; and Walter Compton, general counsel, $2.9 million.
The median pay for Murphy Oil employees last year was $140,965, meaning Jenkins was paid 95 times the median. The median means half the employees were paid more and half paid less.
Murphy Oil is scheduled to hold its annual meeting May 8 at the South Arkansas Arts Center in El Dorado.
-- David Smith
Bill filed to cut out lobbyists from funds
Federal legislation that would prohibit lobbying groups from receiving commodity checkoff funds, used to promote agriculture with catchy slogans such as "Beef. It's What's for Dinner" and "Got Milk?", was filed with bipartisan support on Thursday.
Checkoff programs generate hundreds of millions each year from farmers, but the drafters of a new bill question how much of the money is being used for unlawful purposes that hurt farmers.
Senate Bill 935, referred to as the Opportunities for Fairness in Farming Act of 2019, would force checkoff programs to publish their budgets and undergo audits so farmers and ranchers see where their money is going.
At the federal level, there are checkoff programs in place for 22 products, including beef, eggs, milk, pork, sorghum and soybeans. Poultry is not one of them.
Similar legislation was introduced two years ago as an amendment to the Farm Bill, but was rejected.
U.S. Sens. Mike Lee, R-Utah; Cory Booker, D-N.J.; Rand Paul, R-Ky.; and Elizabeth Warren, D-Mass., sponsored SB935.
-- Nathan Owens
Car-Mart up 8.7%, pulls index higher
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, jumped 7.10 to 414.48 Thursday.
All but two stocks rose.
America's Car-Mart gained 8.7 percent in heavy trading.
"The materials and financials sectors outperformed the broader market as stocks rose on light volume despite a downward revision to GDP for the fourth quarter of 2018," said Leon Lants, managing director at Stephens Inc. in Little Rock.
Total volume for the index was 18 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 03/29/2019