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- Oct 7, 2005
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CEO Doug Parker, President J. Scott Kirby and other senior executives entered into new compensation agreements with the airline carrier to provide benefits in the event of a takeover or a merger that involved more than 50% of the voting power of the company. Under the agreements, the executives are entitled to payments equal to at least twice their annual base salary, or 200% for Kirby and chief operating officer Robert Isom, the Tempe, Ariz. carrier said in a filing. Several executives previously had change of control pacts with the company. The new compensation agreements come as the heads of several major airlines, including Parker, have noted that airline consolidation is only a matter of time. Shares fell 4.3% to $20.06 ahead of the filing.
US Airways Group IncLCC (NYSE) 20.06Change:-0.91-4.34%Volume:3.03M
US Airways Group IncLCC (NYSE) 20.06Change:-0.91-4.34%Volume:3.03M