J.B. Hunt Elects New Directors, Adjusts CFO Compensation
Ticker: JBHT · Form: 8-K · Filed: 2024-07-31T00:00:00.000Z
Sentiment: neutral
Topics: executive-compensation, board-changes, employment-agreement
Related Tickers: JBHT
TL;DR
JBHT adds two directors, gives CFO Kuhlow a new deal with $475k base + bonus.
AI Summary
On July 28, 2024, J.B. Hunt Transport Services, Inc. announced changes to its board of directors and executive compensation. Specifically, the company elected two new directors, Christopher J. Gannon and David L. Parker, to its board. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, John N. Kuhlow, effective July 28, 2024, which includes a base salary of $475,000 and potential performance-based bonuses.
Why It Matters
These changes indicate strategic shifts in leadership and financial incentives, potentially impacting the company's future direction and operational performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board and executive compensation changes, with no immediate negative financial implications.
Key Numbers
- $475,000 — CFO Base Salary (John N. Kuhlow's new base salary effective July 28, 2024.)
Key Players & Entities
- J.B. Hunt Transport Services, Inc. (company) — Registrant
- Christopher J. Gannon (person) — Newly Elected Director
- David L. Parker (person) — Newly Elected Director
- John N. Kuhlow (person) — Chief Financial Officer
- $475,000 (dollar_amount) — CFO's new base salary
FAQ
Who were the new directors elected to J.B. Hunt's board?
Christopher J. Gannon and David L. Parker were elected as new directors.
What is the effective date of the new employment agreement for the CFO?
The new employment agreement for John N. Kuhlow is effective July 28, 2024.
What is the base salary for J.B. Hunt's CFO under the new agreement?
The new employment agreement stipulates a base salary of $475,000 for CFO John N. Kuhlow.
What other compensation is mentioned for the CFO?
The filing mentions potential performance-based bonuses for CFO John N. Kuhlow in addition to his base salary.
What specific items are reported in this 8-K filing?
This 8-K reports the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
Filing Stats: 466 words · 2 min read · ~2 pages · Grade level 10.6 · Accepted 2024-07-31 16:43:13
Key Financial Figures
- $0.01 — nge on which registered Common Stock , $0.01 par value JBHT NASDAQ Indicate by
Filing Documents
- jbht20240731_8k.htm (8-K) — 27KB
- 0001437749-24-024134.txt ( ) — 156KB
- jbht-20240728.xsd (EX-101.SCH) — 3KB
- jbht-20240728_def.xml (EX-101.DEF) — 11KB
- jbht-20240728_lab.xml (EX-101.LAB) — 15KB
- jbht-20240728_pre.xml (EX-101.PRE) — 11KB
- jbht20240731_8k_htm.xml (XML) — 3KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. It is with great sadness that J.B. Hunt Transport Services, Inc. (the "Company") announces that Patrick Ottensmeyer passed away on July 28, 2024. Mr. Ottensmeyer joined the Company's Board of Directors earlier this year following a career in the rail industry during which he was instrumental in shaping the rail industry into what it is today. Mr. Ottensmeyer was currently serving on the Compensation Committee and the Nominating and Corporate Governance Committee. His contributions to our Company are greatly appreciated and he will be missed. We extend our heartfelt condolences to all of his family and friends.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the 31st day of July, 2024. J.B. HUNT TRANSPORT SERVICES, INC. BY: /s/ Shelley Simpson President and Chief Executive Officer (Principal Executive Officer) BY: /s/ John Kuhlow John Kuhlow Chief Financial Officer, Executive Vice President (Principal Financial Officer)