DALLAS (AP) -- Top executives at American Airlines' parent took salary cuts in 2003, a year in which the company flirted with bankruptcy and lost $1.3 billion.
AMR Corp. chief executive Gerard J. Arpey and other senior officials took cuts in their base pay in April 2003, when the company was asking rank-and-file workers to accept pay and benefit reductions.
Arpey declined an increase in his base pay last year but still received more than he had in 2002 because of long-term incentive payments, according to the filing.
Arpey, who replaced Donald J. Carty as CEO in April 2003, was paid a salary of $535,275 and long-term incentives of $151,020 last year. By comparison, he was paid a $580,000 salary and got options for 184,000 shares in 2002, when he was chief operating officer.
Executive vice president Daniel P. Garton's salary was reduced to $467,275 from $520,000. He also received a long-term bonus of $151,020 and, unlike Arpey, got options on 84,000 shares of stock in 2003.
http://biz.yahoo.com/ap/040423/amr_outlook_1.html
AMR Corp. chief executive Gerard J. Arpey and other senior officials took cuts in their base pay in April 2003, when the company was asking rank-and-file workers to accept pay and benefit reductions.
Arpey declined an increase in his base pay last year but still received more than he had in 2002 because of long-term incentive payments, according to the filing.
Arpey, who replaced Donald J. Carty as CEO in April 2003, was paid a salary of $535,275 and long-term incentives of $151,020 last year. By comparison, he was paid a $580,000 salary and got options for 184,000 shares in 2002, when he was chief operating officer.
Executive vice president Daniel P. Garton's salary was reduced to $467,275 from $520,000. He also received a long-term bonus of $151,020 and, unlike Arpey, got options on 84,000 shares of stock in 2003.
http://biz.yahoo.com/ap/040423/amr_outlook_1.html
