Every officer at Inuvo Inc. of Little Rock saw their pay decline in 2016, according to an annual proxy statement the company filed last week.
Richard Howe, chairman and CEO, was paid $1 million in total compensation last year, down from the $1.13 million he was paid in 2015.
He received a $395,000 salary, $87,500 bonus, $524,482 in stock awards and $10,600 in other compensation.
While Howe's salary remained the same and his stock awards increased slightly from the $486,064 Inuvo reported for 2015, his 2016 bonus was less than half the $242,308 bonus Howe received the year before.
CFO Wallace Ruiz was paid $491,109 in total compensation, down from $566,619 in 2015. His salary of $275,000 was unchanged.
Ruiz's bonus declined from $103,846 to $37,500, and his stock awards dipped by about $10,000 from 2015 to $169,872 in 2016. Ruiz also received $8,737 in other compensation last year, which was about the same compared to the year before.
COO Trey Barrett saw his total compensation dip slightly too, to $512,642 from $595,156. His salary was increased by about $1,000 to $250,000. His bonus dropped to $50,000 in 2016, less than half the bonus he was paid in 2015.
Barrett's stock awards increased by a little more than $4,000 to $208,907. He also received $3,735 in other compensation in 2016, about $1,000 more than he received the year before.
Inuvo also announced that it would hold its stockholders meeting at 9 a.m. on June 19 at its headquarters. Shareholders will vote on:
- Re-electing two members of its board.
- Re-appointing Mayer Hoffman McCann P.C. as its independent registered public accounting firm.
- Adopting the 2017 equity compensation plan.