Jack Henry announces 2nd acquisition in a week

Jack Henry & Associates Inc. (Nasdaq: JKHY) this morning reported to the U.S. Securities and Exchange Commission officer compensation changes brought on by a shift in the CEO post.

The changes mostly involve President and CEO David Foss and former Executive Chairman Jack Prim. Foss succeeded Prim as CEO in July 2016, when the latter became executive chairman. Prim stepped down from that role this summer, but stayed on as chairman of the Monett-based financial software firm’s board, according to past Springfield Business Journal reporting.

During fiscal 2018, which ended June 30, Jack Henry posted a 53 percent increase in earnings to $376.6 million.

Below are the top Jack Henry executives’ fiscal 2018 total compensation, compared with fiscal 2017 and 2016, according to the definitive proxy statement issued to the SEC:
    •    Foss, $3.9 million, down from $4 million in fiscal 2017 but up from $2 million in fiscal 2016;
    •    Kevin Williams, chief financial officer, $1.9 million, up from $1.7 million in fiscal 2017 and $1.5 million in fiscal 2016;
    •    Mark Forbis, chief technology officer, $981,194, an increase from $944,024 in prior year and $833,693 in fiscal 2016;
    •    Craig Morgan, general counsel, $623,780, data from previous years not available; and
    •    Prim, $315,000, down from $1.5 million in fiscal 2017 and $4 million in fiscal 2016, when he was CEO.

Foss’ compensation dip was due to him receiving no option awards in fiscal 2018, compared with nearly $500,000 in the year prior. Foss’ salary rose 12.5 percent to $675,000 in fiscal 2018, according to the SEC filing.