Jack Henry executive compensation rises

David Foss is the highest earner at the company.

Last edited 1:16 p.m., Oct. 6, 2022

Jack Henry & Associates Inc. (Nasdaq: JKHY) executive compensation was up across the board in fiscal 2022.

That's according to the company's latest proxy statement filed today with the U.S. Securities and Exchange Commission.

CEO David Foss, the highest earner at the Monett-based financial software firm, had total compensation of $9.8 million, a 12.3% increase from a year earlier. His base salary of $840,000 was changed from fiscal 2021; the compensation boost was largely due to increased stock awards.

Combined, the named executive officers in Jack Henry's proxy report had fiscal 2022 compensation of roughly $18 million.

The officers, by total compensation, are:
• Foss, $9.8 million, up 12.3%;
• Kevin Williams, former chief financial officer, $3 million, up 38%;
• Gregory Adelson, president and chief operating officer, $2.2 million, up 9.3%;
• Craig Morgan, general counsel, $1.3 million, up 3.5%;
• Teddy Bilke, former chief technology officer, $1 million, up 0.3%; and
• Stacey Zengel, senior vice president and president of Jack Henry Bank Solutions, $964,977, N/A.

Williams and Bilke both retired this year, according to past reporting. Mimi Carsley started Sept. 1 as the company's new CFO, but the company's investor relations website does not show a new CTO on board. Zengel was not previously a named executive officer, so his former compensation was not disclosed in the SEC filing.

Jack Henry on June 30 ended fiscal 2022 with net income of $362.9 million, a 17% increase from a year earlier, according to past reporting.

JKHY shares were trading at $187.29 as of 9:30 a.m., compared with a 52-week range of $147.50 to $212.62 per share.