Insteel Industries Inc., a manufacturer of steel wire reinforcing products for concrete construction applications, announced pay raises for four top executives, including its CEO and chief financial officer.

CEO Howard Osler Woltz III saw the biggest dollar boost in pay among four Insteel executives getting salary increases. Woltz III will receive an annual salary of $635,000, a 5.8 percent increase from his previous salary of $600,000.

Woltz III has been with the company since 1989 and has served as CEO since 1991. He was appointed chairman of the board on Feb. 10, 2009.

Richard T. Wagner, vice president and general manager with Insteel’s subsidiary company, Insteel Wire Products, saw the biggest boost in compensation on a percentage basis. His annual salary increased 10 percent, to $330,000 from his previous salary of $300,000.

Michael C. Gazmarian, the company’s chief financial officer and treasurer, will receive a new salary of $345,000, up 6.1 percent from his previous salary of $325,000.

James F. Petelle, vice president of administration and secretary, will see his salary jump 8.1 percent, to $225,000 from his previous salary of $208,000. Petelle joined the company October 2006, and has served in his current roles since January 2007.

The Mount Airy, North Carolina-based company stated in a filing with the Securities and Exchange Commission that the pay raises were approved July 16 by the board and are effective immediately.

Insteel announced its fiscal 2018 third quarter earnings Thursday, showing an increase in net earnings of nearly 87 percent, to $12.9 million from $6.9 million in the same quarter a year ago.

The company’s shares were trading at $39.42 Thursday afternoon, a 16.23 percent increase from the previous day’s close.