Exhibit 99.1
SUMMARY OF COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS
On January 20 and 21, 2021, the Board of Directors of J.B. Hunt Transport Services, Inc. (the “Company”), through either its Executive Compensation Committee or its independent directors, as applicable, approved the following compensation for each of the Company’s named executive officers and for the Chairman of the Board. All base salaries are effective January 31, 2021. The following compensation excludes awards which may be made under our Management Incentive Plan:
| | | | | | | | | | All Other |
| | | | Base | | | Bonus | | | Compensation |
Named Executive Officer | | | Salary | | | ($) | | | ($) |
| | | | | | | | | | |
John N. Roberts, III | | | | | | | | | |
President, CEO | | $ | 940,000 | | | (1) | | | (3), (4) |
| | | | | | | | | | |
John Kuhlow | | | | | | | | | |
CFO, EVP | | $ | 400,000 | | | (1) | | | (3), (4) |
| | | | | | | | | | |
Shelley Simpson | | | | | | | | | |
CCO, EVP People and Human Resources | | $ | 600,000 | | | (1) | | | (3), (4) |
| | | | | | | | | | |
Nicholas Hobbs | | | | | | | | | |
COO, President of Contract Services, EVP | | $ | 600,000 | | | (1) | | | (3), (4) |
| | | | | | | | | | |
Darren Field | | | | | | | | | |
President of Intermodal, EVP | | $ | 450,000 | | | (1) | | | (3), (4) |
| | | | | | | | | | |
Kirk Thompson | | | | | | | | | |
Chairman of the Board | | $ | 395,000 | | | (2) | | | (3), (4) |
(1) | The Company has a performance-based bonus program that is related to the Company’s operating income for calendar year 2021 (the “2021 Company Bonus Plan”). According to the 2021 Company Bonus Plan, each of the Company’s named executive officers may earn a bonus ranging from zero to 65% of the executives’ annual base salary. The Company also has a Performance Growth Incentive bonus plan for calendar year 2021 (the “2021 PGI Bonus Plan”) that is related to the Company’s net revenue and earnings before taxes for calendar year 2021. Under the plan, John Roberts, as CEO and President, may earn a bonus ranging from zero to 125% of his annual base salary. Each other named executive officer may earn a PGI bonus ranging from zero to 100% of his or her annual base salary. |
(2) | Kirk Thompson, as Chairman of the Board, is not eligible to participate in the 2021 Company Bonus Plan or the 2021 PGI Bonus Plan. | |
| | | |
(3) | The Company will reimburse the executive officer up to $10,000 for actual expenses incurred for legal, tax and estate plan preparation services. The Company also provides certain other perquisites which are disclosed annually in the Company’s proxy statement for its Annual Meeting of Stockholders. | |
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(4) | The Company has a 401(k) retirement plan that includes matching contributions on behalf of the executive officer. The plan is expected to pay such officer approximately $9,000 during 2021. |
