An increase in stock awards helped boost total pay for a pair of executives at Home BancShares Inc. of Conway, according to the firm's annual proxy statement filed March 4.
The publicly traded company, the parent company of Centennial Bank, reported compensation increases for Chairman Johnny Allison and Centennial Bank CEO and President Tracy French in 2014,
Allison's total compensation was $2.8 million, up from $2.3 million the previous year, and he realized an additional $5.6 million by exercising stock options. Allison's 2015 compensation included a $300,000 base salary and stock awards worth $1.9 million. In 2014, Allison received a $275,000 base salary and $1.4 million worth of stock.
French received total compensation of about $2.2 million, up from about $620,000 the previous year. The 2015 total included a $360,000 base salary, a $180,000 bonus and $922,750 in stock awards. In 2014, French received a $310,000 base salary, a $155,000 bonus and stock awards of $102,420.
Other executives and their compensation:
C. Randall Sims, Home BancShares' president and CEO, received total compensation of about $308,000, down from about $607,000 the previous year. The 2015 total included a $275,000 base salary and a $10,000 bonus. In 2014, he received a $390,000 base salary and a $195,000 bonus.
Brian S. Davis, CFO and treasurer, received total compensation of about $1.7 million, which includes a base salary of about $225,000, a $75,000 bonus and stock awards worth $738,200. Davis became a named executive officer after being promoted to the position in July following the retirement of Randy E. Mayor, the previous CFO.
Mayor's total compensation was $213,000 in the first half of 2015, which included a base salary of about $192,000. His total compensation in 2014 was about $462,000.
Kevin D. Hester, chief lending officer, was $1.6 million, including a base salary of $300,000, a bonus of $150,000 and $738,200 worth of stock. It is his first year as a named executive officer.
Allison was the only named executive officer who exercised stock options last year.
Home BancShares will hold its annual meeting at 6:30 p.m. April 21 at the Wyndham Riverfront Little Rock, at 2 Riverfront Plaza in North Little Rock.
The company will ask shareholders to vote on five proposals:
- to elect five nominees to its board of directors.
- to set compensation for named executive officers.
- to increase the number of authorized shares of common stock from 100 million to 200 million.
- to increase the number of shares issued under its stock option and performance incentive plan to 5.6 million.
- to ratify the appointment of BKD LLP as its public accounting firm.