The chief executive officer of a Raleigh, North Carolina-based marketing technology company saw a 68 percent increase in pay last year, according to the company’s proxy statement filed Tuesday with the Securities and Exchange Commission.

Joseph Epperson, the chief executive officer of MaxPoint Interactive, received $708,095 in total compensation last year, up 68 percent from $421,970.

MaxPoint’s compensation committee approved a 1.5 percent increase in Epperson’s base salary from $295,000 to 299,425 in 2016. He received $230,620 in stock awards last year.

Lynnette Frank and Augustus Tai have been nominated for election at MaxPoint’s annual meeting for a three-year board of directors term expiring in 2020. Board members working for the company receive $30,000 in compensation.

MaxPoint is a marketing technology company that generates hyperlocal intelligence to optimize brand and retail performance.

Shares of MaxPoint dropped 8.5 percent at $6.45 Tuesday after opening at $7.05.

The company’s annual meeting will be held on May 3 at 3 p.m. at the Washington Duke Inn & Golf Club.