BRIEF: Compensation rises for liberty executives [The Virginian-Pilot]
(Virginian-Pilot (Norfolk, VA) Via Acquire Media NewsEdge) Oct. 12--Annual compensation increased for three of the top four executives of JTH Holding Inc., the Virginia Beach-based parent of Liberty Tax Service, the company said in its proxy statement issued Friday. The fourth executive resigned earlier this week.
Founder and CEO John Hewitt earned $640,460 in 2013, up 3 percent from 2012, according to the proxy for JTH's shareholders meeting, scheduled for Nov. 14.
General Counsel James Wheaton saw a 9.6 percent increase to $369,814.
Mark Baumgartner, chief financial officer, earned 8 percent more -- $409,520 -- in 2013. The company said Thursday it is reassigning Baumgartner to head its financial subsidiary and hiring a new CFO.
T. Rufe Vanderpool, chief operating officer, resigned Monday, according to the company's proxy statement. He earned $319,785 in 2013, down 43 percent, largely due to the absence of stock options in 2013.
The past few months have been tumultuous for JTH. Its accounting practices were questioned by the U.S. Securities and Exchange Commission, forcing JTH to file its most recent annual report after the due date. It also had to restate earnings from previous reports.
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