The company filed its proxy disclosing the total compensation packages paid to its top executives in 2012.
Chairman and CEO Martin Barrrington received $12.12 million in total compensation last year, a jump from $4.6 million in 2011. Barrington took over as CEO last year. His total included a $1.02 million base salary, $6.6 million in stock awards, $2.5 million in incentives. He also received $199,000 in other perks such as use of the company aircraft, a company car and home security.
Barrington’s predecessor, Michael Szymanczyk received a total of $8.63 million in compensation in 2012. He retired from Altria in May. His 2012 total included $562,000 in salary and $8 million as part of his outgoing awards.
See the full compensation table here.
President and CEO Tom Folliard received 33,238 shares of restricted stock at no cost. He owns more than 543,000 shares of CarMax stock.
The company announced that Wayne C. Drinkwater, principal accounting officer and controller, intends to retire on May 1. He has been with the company for 39 years.
NewMarket also announced a consulting agreement it entered into with C.S. Warren Huang, the former president of its Afton Chemical subsidiary. He retired from the company April 1 and will be paid $140,000 annually to consult for Afton Chemical. The agreement runs through March 31, 2016.