USA Truck Inc. will pay former executive Michael Borrows $630,000

Discussion in 'USA Truck' started by 48stater, May 26, 2016.

  1. Canned Spam

    Canned Spam Road Train Member

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    I would have had to work for them for 23 years to make that much
     
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  2. inandoutoftrouble

    inandoutoftrouble Road Train Member

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    USA Truck to Pay Former Executive $630,000
    by Marty Cook on Wednesday, May. 25, 2016 2:38 pm

    [​IMG]
    Michael Borrows

    USA Truck Inc. of Van Buren will pay former executive Michael Borrows $630,000 as part of a separation agreement. Borrows announced his resignation from the company on May 19.

    Borrows stepped down as CFO after approximately 20 months in that position. His total compensation was $608,000 in 2015, his only full year at USA Truck. The compensation included $225,000 in salary, $123,178 in stock awards and $175,668 in incentive plan bonus.

    According to the separation agreement USA Truck filed with the Securities & Exchange Commission on Tuesday, Borrows will receive severance pay for 18 months equal to his base salary of $300,000. He will also receive $180,000 in a lump sum payment, which was the target amount for cash incentive compensation.

    Borrows was hired by then-CEO John Simone on Sept. 23, 2014, to replace Cliff Beckham. Borrows held finance and accounting leadership positions for 14 years at Kansas City Southern and BNSF Railway and was senior vice president and managing director at Pollen Inc. before joining USA Truck.
     
  3. Jake the brake

    Jake the brake Bobtail Member

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  4. Jake the brake

    Jake the brake Bobtail Member

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    What a ripoff to the people that own stock in that company.
     
  5. x1Heavy

    x1Heavy Road Train Member

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    HA. He OWNS some of that ripoff stock LOL....
     
  6. free spirited1

    free spirited1 Heavy Load Member

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    Can you imagine one of us making that sort of money in the short time he was there....let alone a few years...lol...and they want us to never lie!!!!!..lol
     
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