Executive compensation rises at Jack Henry

David Foss’ total compensation rises 24%.

At least three top officers at Jack Henry & Associates Inc. (Nasdaq: JKHY) earned more compensation during fiscal 2019, according to a proxy statement filed with the U.S. Securities and Exchange Commission.

In the Oct. 4 SEC filing, the Monett financial software firm reported total compensation was up for three executives for the fiscal year that ended June 30. Two other executives previously were not among the top paid at the firm, so prior year compensation was not disclosed in the filing.

President and CEO David Foss, the highest-paid executive at the company, received $4.9 million in total compensation, a 24% increase from $3.9 million a year earlier. His salary was up 15% to $775,000, according to the SEC filing.

The other top executives, by fiscal 2019 total compensation, are:
• Kevin Williams, treasurer and chief financial officer, $1.9 million, up 2.2%;
• Mark Forbis, executive vice president and chief technology officer, $1 million, up 5%; and
• Greg Adelson, vice president, $800,668, and Ted Bilke, vice president, $766,124, not previously named in SEC proxy filings.

Forbis is scheduled to retire on Nov. 15, when Bilke is slated to succeed him as CTO and Adelson is scheduled to be promoted to the newly created role of chief operating officer, Springfield Business Journal previously reported.

For fiscal 2019, Jack Henry reported net income of $271.9 million, a 26% drop from $365 million a year earlier.

JKHY shares were trading at $144.78 as of 9 a.m., compared with a 52-week range of $120.20 to $159.09.