Top executive compensation down at O'Reilly Automotive

Greg Johnson remains the top-paid executive at the company.

Most of Springfield-based auto parts retailer O’Reilly Automotive Inc.'s (Nasdaq: ORLY) top officers had compensation decreases in 2022, according to the company's latest proxy filing with the U.S. Securities and Exchange Commission.

CEO Greg Johnson, who remained the top-paid employee at the company, saw his total compensation drop by 57% to $5.5 million, according to the SEC filing.

His total pay was largely impacted by a $7.4 million decrease in nonequity incentive plan compensation compared with the prior year. The SEC filing indicates that nonequity incentive plan compensation refers to cash payouts under the company’s annual performance incentive plan. It’s paid in the year following the plan year.

Not reflected in the SEC filing are changes that became effective Jan. 9, when Johnson relinquished his president role to Brad Beckham and Brent Kirby, who were promoted to co-presidents, according to past reporting. Johnson retained his CEO position.

O'Reilly Automotive's top executives in 2022, by total compensation, were:
• Johnson, $5.5 million, down 57%;
• Beckham, executive vice president and chief operating officer, $3.1 million, down 18.8%;
• Kirby, executive vice president and chief supply chain officer, $3.1 million, down 19.3%;
• Jeremy Fletcher, executive vice president and chief financial officer, $2.4 million;
• Tom McFall, executive vice president, $2.3 million, down 67.1%;
• Greg Henslee, executive chair of the board, $1.2 million, up 13.4%; and
• David O'Reilly, executive vice chair of the board, $1.1 million, down 3.2%.

Fletcher was not previously a top officer – referred to as a named officer in the proxy report – so his previous compensation was not disclosed.

Combined, total compensation for the seven named O'Reilly Automotive officers in 2022 was $18.7 million, according to the SEC filing.

In 2022, O'Reilly's net income slightly increased to $2.17 billion, while revenue grew 8% to $14.4 billion, according to past reporting.

ORLY shares were trading at $862.64 as of 9:09 a.m., compared with a 52-week range of $562.90 to $873.94 per share.