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US Airways Group Sets President's Pay
AP
WASHINGTON (AP) - US Airways Group Inc. said it will pay a $490,000 salary to J. Scott Kirby, the airline's new president.
US Airways said in a filing Tuesday with the Securities and Exchange Commission that Kirby also received 75,000 stock appreciation rights and three performance-based awards whose amount will be determined based on the company's total shareholder return, versus those of competitors.
Kirby's stock appreciation rights carry a $46.11 exercise price - the market price on the date of the grant - and vest in equal installments over the next three years, the company said.
The Tempe, Ariz.-based company announced last week that it promoted Kirby, who had served as executive vice president of sales and marketing, to the position of president.
As executive vice president, Kirby received $395,833 in salary for 2005, according US Airways' most recent proxy.
Separately, US Airways said it increased Chief Financial Officer Derek J. Kerr's salary to $315,000. The company didn't provide Kerr's previous salary in Tuesday's filing. For 2005, Kerr received $275,000 in salary, according to the company's proxy.
AP
WASHINGTON (AP) - US Airways Group Inc. said it will pay a $490,000 salary to J. Scott Kirby, the airline's new president.
US Airways said in a filing Tuesday with the Securities and Exchange Commission that Kirby also received 75,000 stock appreciation rights and three performance-based awards whose amount will be determined based on the company's total shareholder return, versus those of competitors.
Kirby's stock appreciation rights carry a $46.11 exercise price - the market price on the date of the grant - and vest in equal installments over the next three years, the company said.
The Tempe, Ariz.-based company announced last week that it promoted Kirby, who had served as executive vice president of sales and marketing, to the position of president.
As executive vice president, Kirby received $395,833 in salary for 2005, according US Airways' most recent proxy.
Separately, US Airways said it increased Chief Financial Officer Derek J. Kerr's salary to $315,000. The company didn't provide Kerr's previous salary in Tuesday's filing. For 2005, Kerr received $275,000 in salary, according to the company's proxy.