OZRK » Topics » Base Salary

This excerpt taken from the OZRK DEF 14A filed Mar 11, 2009.
Base Salary. Base salary levels for the named executive officers and other executive officers were subjectively determined based upon the following factors: (1) individual performance contributions in accordance with the compensation philosophy of the Company, (2) senior management’s perception and understanding of the appropriate salary levels that are necessary to remain competitive within the markets in which the Company operates and (3) the Company’s budgetary parameters established for the full year.

     During 2008 base salaries paid to all ten executive officers as a group (including the Chief Executive Officer) employed for the full years of 2007 and 2008 increased 7.8%. The base salaries paid to the five named executive officers in 2008 increased 10.7%, somewhat higher than the increases in base salaries for all ten executive officers as a group. The table below discloses base salary for each named executive officer in fiscal years 2007 and 2008 and the percentage increase in their 2008 base salary from their 2007 base salary.

  Base Salary     
  Named Executive Officer  Fiscal Year 2007  Fiscal Year 2008  Percentage Increase 
  George Gleason  $587,606  $665,327  13.2 % 
  Paul Moore    192,526    217,526  13.0   
  Mark Ross    245,262    256,065  4.4   
  Greg McKinney    186,154    213,462  14.7   
  Rex Kyle    122,793    125,297  2.0   

     

This excerpt taken from the OZRK DEF 14A filed Mar 7, 2008.
Base Salary. Base salary levels for the named executive officers and other executive officers were subjectively determined based upon the following factors: (1) individual performance contributions in accordance with the compensation philosophy of the Company, (2) senior management’s perception and understanding of the appropriate salary levels that are necessary to remain competitive within the markets in which the Company operates and (3) the Company’s budgetary parameters established for the full year.

     During 2007 base salaries paid to all eleven executive officers employed for the full years of 2006 and 2007 as a group (including the CEO) increased by 6.70%. The salary increases for the named executive officers generally were comparable to the increases for all the Company’s executive officers. The table below discloses base salary for each named executive officer in fiscal years 2006 and 2007 and the percentage increase in their 2007 base salary from their 2006 base salary.

   Base Salary  
  Named Executive Officer   Fiscal Year 2006 Fiscal Year 2007   Percentage Increase 
  George Gleason  $570,577  $587,606  3.0 %
  Paul Moore    174,450    192,526  10.4  
  Mark Ross    239,423    245,262  2.4  
  Darrel Russell    170,585    175,980  3.2  
  Gene Holman    145,316    150,042  3.3  

     The Company determined to increase Mr. Moore’s base salary to be more comparable to salaries paid to chief financial officers of other similarly sized financial institutions, resulting in a greater percentage increase in his 2007 base salary over the 2006 level, relative to the other named executive officers.

     

This excerpt taken from the OZRK DEF 14A filed Mar 9, 2007.
Base Salary. Base salary levels for the named executive officers and other executive officers were subjectively determined based upon the following factors: (1) individual performance contributions in accordance with the compensation philosophy of the Company, (2) senior management’s perception and understanding of the appropriate salary levels that are necessary to remain competitive within the markets in which the Company operates and (3) the Company’s budgetary parameters established for the full year. During 2006 base salaries paid to all executive officers employed for the full years of 2005 and 2006 as a group (including the Chief Executive Officer) increased by 12.7%.

     

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