Home BancShares Inc. Chairman Johnny Allison received a $3.6 million compensation package in fiscal 2016, up from $2.8 million in the previous year, according to the company's proxy statement, filed Thursday.
The publicly traded company (Nasdaq: HOMB), the parent company of Centennial Bank, reported compensation increases for Allison and CEO and President C. Randall Sims. Allison and two other executives received additional payments by exercising stock options.
Allison's total compensation of $3.6 million included salary of $330,000, up from $300,000 in 2015, and stock awards worth $2.5 million. He realized an additional $2.6 million by exercising stock options.
Sims' total compensation of $317,539 included salary of $285,000, up from $275,000 in 2015, and a $10,000 bonus.
Other executives and their compensation:
Tracy M. French, CEO and president of Centennial Bank, had total compensation of $659,061, down from $2.2 million in 2015. His 2016 package included salary of $385,000, up from $360,000 in 2015, and a $192,000 bonus. French realized an additional $1.1 million by exercising stock options.
Kevin D. Hester, chief lending officer, had total compensation of $620,447, down from $1.6 million in 2015. His 2016 package included salary of $325,000, up from $300,000 in 2015, and a $162,000 bonus.
Brian S. Davis, chief financial officer and treasurer, had total compensation of $477,092, down from $1.7 million in 2015. His 2016 package included a salary of $300,000, up from $225,105 in 2015, and a $150,000 bonus. Davis realized an additional $289,562 by exercising stock options.
Home BancShares will hold its annual meeting on April 20 in Conway. There, shareholders will be asked to:
- vote on a proposal to elect the nominees listed in this proxy statement as directors for a term of one year;
- vote on a proposal to approve, on an advisory (non-binding) basis, the Company’s compensation of its named executive officers;
- vote on a proposal to approve the material terms of the performance goals under the Company’s Amended and Restated 2006 Stock Option and Performance Incentive Plan, as amended; and
- vote on a proposal to ratify the appointment of BKD, LLP as the Company’s independent registered public accounting firm for the next fiscal year.
Earlier this week, Home BancShares completed its latest acquisition — The Bank of Commerce, a Florida state-chartered bank that operates in the Sarasota area. The company originally announced the deal in November.