Insteel Industries Inc.’s CEO saw a 6.3 percent increase in total compensation in the company’s 2018 fiscal year due to an increase in nonequity incentive plan compensation, according to aSecurities and Exchange Commission filing.

Howard O. Woltz III’s total compensation for the fiscal year totaled $2.3 million, up from $2.17 million in the company’s 2017 fiscal year. His nonequity incentive plan compensation rose to $849,423 in fiscal year 2018 from $684,600 in fiscal year 2017.

Woltz’s salary for fiscal year 2018 was $606,731, up 1.1 percent from his fiscal year 2017 salary of $600,000.

Michael C. Gazmarian, the company’s executive vice president of operations, chief financial officer and treasurer, received total compensation of $1.1 million during the 2018 fiscal year. That includes $137,522 in stock awards.

Gazmarian’s salary is $328,896, according to the filing, which can be found here.

Insteel Industries, the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications, reported a 16.5 percent increase in sales in fiscal 2018 from fiscal 2017 due to higher shipments and selling prices for their products.

During fiscal 2018, net earnings increased to $36.3 million from $22.5 million.

Insteel Industries’ annual meeting will be Tuesday, Feb. 12, at 9:30 a.m. Eastern time, at the Cross Creek Country Club, located at 1129 Greenhill Road, Mount Airy, North Carolina.

The company’s shares closed Jan. 9 at $25.13 and are up 4.1 percent from a Jan. 2 low for the year of $24.15.