Compensation grows among top Jack Henry execs

David Foss is the highest paid executive at Jack Henry.

Jack Henry & Associates Inc. (Nasdaq: JKHY) reported growth in executive compensation, with its top officer seeing his pay more than double in the company's latest fiscal year.

In a Sept. 18 proxy filing with the U.S. Securities and Exchange Commission, the Monett-based financial software firm disclosed compensation increases for three of its five top officers during its fiscal year that ended June 30, 2020. The two other executives previously were not among the top paid at the firm, so prior year compensation was not disclosed in the filing.

David Foss, Jack Henry’s president and CEO, was the top paid executive during fiscal 2020, with roughly $11 million in total compensation. That's up 127% from $4.9 million a year earlier – mostly due to $9 million in stock awards that compared with $3.2 million in fiscal 2019.

Jack Henry's top executives, by fiscal 2020 total compensation, are:
• Foss, $11 million;
• Kevin Williams, chief financial officer, $2.2 million, up 15%;
• Gregory Adelson, chief operating officer, $1.6 million, up 105%;
• Craig Morgan, general counsel, $2 million; and
• Steven Tomson, chief sales and marketing officer, $1.1 million.

In fiscal 2020, Jack Henry's net income rose 9% to $296.7 million.

JKHY shares were trading at $158.29 as of 9:53 a.m., compared with a 52-week range of $123.64 to $200.98.