Darren Field
HUNT J B TRANSPORT SERVICESAbout Darren Field
Darren Field is President of Intermodal and Executive Vice President at J.B. Hunt; he joined the company in 1994 as a Night Dispatcher and was promoted to his current role effective April 1, 2020 . He was age 53 as of the 2024 proxy and has been consistently listed among the company’s named executive officers since 2020 . Company long-term performance metrics used for vesting show above-target results: for the 2021 PSU cohort (performance period ended 12/31/2023), EBITDA CAGR was 11.7% with ROIC at the 67.9th percentile, leading to vesting at 120.0% (EBITDA) and 135.8% (ROIC) on March 31, 2024; for the 2020 cohort (ended 12/31/2022), EBITDA CAGR was 17.0% and ROIC at the 67.9th percentile, vesting at 150.0% and 135.8% on March 31, 2023 . Annual operating income also drives annual vesting installments for AOI-linked awards (e.g., 2023 AOI of $993 million supported AOI vesting on January 31, 2024) .
Past Roles
| Organization | Role | Years | Strategic impact/notes |
|---|---|---|---|
| J.B. Hunt (JBHT) | President of Intermodal and Executive Vice President | 2020–present | Promoted effective April 1, 2020 . |
| J.B. Hunt (JBHT) | Night Dispatcher (entry role) | 1994 | Joined the company in 1994 . |
External Roles
No external public company directorships for Mr. Field are disclosed in the executive officer biographies within the reviewed DEF 14A filings .
Fixed Compensation
| Metric | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Salary ($) | 444,231 | 516,346 | 569,231 | 592,692 |
| Non-Equity Incentive Plan Compensation ($) | 742,500 | 742,875 | — | — |
| All Other Compensation ($) | 20,665 | 24,351 | 19,221 | 31,335 |
| Total Compensation ($) | 3,250,566 | 3,480,949 | 2,924,923 | 3,040,104 |
Base salary rate setting (for context):
| Year | Base salary rate ($) |
|---|---|
| 2020 | 400,000 |
| 2021 | 450,000 |
| 2022 | 525,000 |
Performance Compensation
Cash bonus structure and outcomes (2022)
| Plan | Metric(s) | Min payout (% of salary) | Target (% of salary) | Max (% of salary) | Reported performance | Actual payout (% of salary) | Actual payout ($) |
|---|---|---|---|---|---|---|---|
| Company Bonus Plan | Operating Income | 15.0 | 46.5 | 60.0 | $1.332B AOI | 54.0 | 283,500 |
| PGI (Performance Growth Incentive) | Net revenue growth / EBT growth | 50.0 | 75.0 | 100.0 | 13.4% / 28.1% | 87.5 | 459,375 |
Notes:
- 2023 summary compensation shows no non-equity incentive payout for Mr. Field .
- Annual bonus plans are set via matrices tied to budgeted operating income (company plan) and to net revenue and EBT growth (PGI); matrices remain fixed once approved .
Equity awards granted
| Grant year | AOI PSUs (#) | ROIC/EBITDA PSUs (#) | Total fair value ($) | Valuation basis | Vesting terms |
|---|---|---|---|---|---|
| 2024 | 8,942 | 2,981 | 2,416,077 | 2.38% discount to $207.58 stock price on 1/22/2024 | Annual installments over 4 years beginning Jan 31, 2025, or cliff vest Mar 31, 2027, subject to certification |
| 2023 | 9,738 | 3,246 | 2,336,471 | 2.64% discount to $184.83 stock price on 1/19/2023 | Annual installments over 4 years beginning Jan 31, 2024, or cliff vest Mar 31, 2026, subject to certification |
Vesting outcomes on prior three-year PSUs:
| PSU grant cohort | Performance period end | EBITDA CAGR achieved | EBITDA vesting | ROIC percentile achieved | ROIC vesting | Vest date |
|---|---|---|---|---|---|---|
| 2021 | 12/31/2023 | 11.7% | 120.0% | 67.9th | 135.8% | Mar 31, 2024 |
| 2020 | 12/31/2022 | 17.0% | 150.0% | 67.9th | 135.8% | Mar 31, 2023 |
Additional notes:
- No stock options were granted in 2024, 2023, or 2022 .
Equity Ownership & Alignment
Beneficial ownership
| Metric | 2021 | 2022 | 2024 |
|---|---|---|---|
| Direct shares | 14,838 | 17,723 | 26,901 |
| Percent of class | * | * | * |
Less than 1 percent (as denoted by “” in each proxy table) .
Outstanding unvested awards (as of 12/31/2022)
| Category | Units (#) | Market value ($) |
|---|---|---|
| Time-vested RSUs not yet vested | 1,374 | 239,571 |
| Equity incentive PSUs (unearned) | 7,162 | 1,248,766 |
| Equity incentive PSUs (unearned) | 10,272 | 1,791,026 |
| Equity incentive PSUs (unearned) | 2,186 | 381,151 |
| Equity incentive PSUs (unearned) | 8,019 | 1,398,193 |
| Equity incentive PSUs (unearned) | 3,564 | 621,419 |
| Equity incentive PSUs (unearned) | 8,420 | 1,468,111 |
| Equity incentive PSUs (unearned) | 2,806 | 489,254 |
Vesting cadence and insider supply considerations:
- Annual AOI-linked installments vest on January 31 (subject to performance certification), and three-year ROIC/EBITDA tranches vest on March 31 of the vesting year, creating predictable windows for potential Form 4 activity around late January and late March .
Perquisites and other compensation
2024 components:
| Item | Amount ($) |
|---|---|
| Perquisites and other personal benefits | 20,985 |
| Company contributions to 401(k) | 10,350 |
| Total “All Other Compensation” | 31,335 |
2022 perquisite breakdown:
| Perquisite category | Amount ($) |
|---|---|
| Personal administrative support | 1,879 |
| Personal use of company plane | 1,092 |
| Legal and accounting fees | 835 |
| Club dues | 11,813 |
| Total perquisites | 15,619 |
| Company contributions to 401(k) | 8,732 |
| Total “All Other Compensation” | 24,351 |
Employment Terms
- No employment contracts or predetermined personal severance agreements with executives; equity vests accelerate only on a double trigger (change in control plus qualifying termination/retirement/resignation for good reason) .
- Change-in-control definition includes >30% ownership change outside of certain transactions; board turnover threshold; or consummation of merger/asset sale/liquidation with >50% ownership change, among other triggers .
- Deferred Compensation Plan allows elective deferrals of salary/bonus; no company contributions and no stock deferrals permitted .
- Health and welfare benefits (medical, life, LTD, 401(k) match) provided on a nondiscriminatory basis .
- No stock options were granted during 2024, 2023, or 2022, emphasizing RSUs/PSUs as the long-term vehicle .
Investment Implications
- Strong equity alignment with performance: 2024 stock awards ($2.416M) materially exceed salary ($593k), and PSUs are tied to AOI, ROIC, and EBITDA with above-target vest outcomes on 2020 and 2021 cohorts (150%/135.8% and 120%/135.8%), reinforcing pay-for-performance linkage .
- Cash bonus cyclicality: 2022 produced meaningful company and PGI payouts ($283.5k and $459.4k), whereas 2023 shows no non-equity incentive payout for Mr. Field, underscoring variability tied to operating conditions and preset matrices .
- Predictable vesting windows: Annual AOI tranches typically vest Jan 31 and three-year PSUs on Mar 31 (subject to certification), which can cluster Form 4 activity and potential supply in late Jan/Mar; monitor these windows for trading flow signals .
- Ownership trend is rising (14,838 in 2021 to 26,901 in 2024), supporting “skin-in-the-game,” though percentage of class remains below 1% .
- Governance risk mitigants: Absence of employment contracts and use of double-trigger CoC vesting limit single-trigger windfalls; reliance on PSUs (no options) reduces repricing risk and aligns realized pay with multi-year operating and capital efficiency outcomes .