- May 22, 2003
- 1,788
- 18
AFA America West Council 66
Following in the footsteps of his fellow executive officers, Doug Parker, CEO of US Airways cashed in many of his stock options yesterday and took home approximately $9,000,000 dollars. That's right...nearly $9 Million Dollars!
Shares Acquired Expiration date Option Price Value
24,750 10/28/06 $29.09 $719,977.50
41,250 01/24/12 $9.21 $379,912.50
103,125 04/09/13 $6.42 $662,062.50
33,025 03/10/15 $12.44 $410,831.00
70,100 03/10/15 $12.44 $872,044.00
Total Shares Acquired: 272,250 Total Cost: $3,044,827.50
Shares Sold Date Sold Exercised Price Value
202,150 8/1/06 $44.458 $8,987,184.70
70,100 8/2/06 $43.5875 $3,055,483.75
Total Shares Sold: 272,250 Total Value: $12,042,668.45
Total Pre Tax Profit: $8,997,840.95
Additionally, Parker announced to management employees that West Grade 23 and above employees; East Management Salary Plan (MSP), employees; and, employees covered by the crew schedulers' pay scales will be eligible for merit raises this fall.
In a letter to these employees Parker says; "The past year has been more challenging -and more successful- than many of us anticipated going into the US Airways/America West merger. Today, we're on track for a profitable 2006, even with transition-related expenses and with continued high fuel costs and that is good news.
With that, I'm pleased to report that we will implement annual 3% merit pay increases for non-contract employees this fall. Contract employees, as you know, have their annual pay increases implemented as part of their contracts.
The increases will average 3% for West employees in positions at grade 23 through the managing director level, and East employees in the Management/Salaried Plan (MSP) through the managing director level.
I'm delighted that we're in a position to offer increases. We have a lot of challenges ahead, but I'm optimistic that we're up to meeting and exceeding our customers' expectations." Parker states.
Nine Million Dollars added to Parker's pocket and pay raises for management employees as a direct result of this merger and all-the-while proclaiming that our contract negotiations for a Single Agreement must remain cost neutral!
This hypocritical posturing of a cost-neutral contract by Parker and his management team must stop now. The Flight Attendants at the new US Airways are as integral to the success of this company any other employee group...including management. We deserve and expect fair enhancements to our wages and working conditions... and yes, we are ready, able, and willing to take the steps necessary to secure those enhancements.
Following in the footsteps of his fellow executive officers, Doug Parker, CEO of US Airways cashed in many of his stock options yesterday and took home approximately $9,000,000 dollars. That's right...nearly $9 Million Dollars!
Shares Acquired Expiration date Option Price Value
24,750 10/28/06 $29.09 $719,977.50
41,250 01/24/12 $9.21 $379,912.50
103,125 04/09/13 $6.42 $662,062.50
33,025 03/10/15 $12.44 $410,831.00
70,100 03/10/15 $12.44 $872,044.00
Total Shares Acquired: 272,250 Total Cost: $3,044,827.50
Shares Sold Date Sold Exercised Price Value
202,150 8/1/06 $44.458 $8,987,184.70
70,100 8/2/06 $43.5875 $3,055,483.75
Total Shares Sold: 272,250 Total Value: $12,042,668.45
Total Pre Tax Profit: $8,997,840.95
Additionally, Parker announced to management employees that West Grade 23 and above employees; East Management Salary Plan (MSP), employees; and, employees covered by the crew schedulers' pay scales will be eligible for merit raises this fall.
In a letter to these employees Parker says; "The past year has been more challenging -and more successful- than many of us anticipated going into the US Airways/America West merger. Today, we're on track for a profitable 2006, even with transition-related expenses and with continued high fuel costs and that is good news.
With that, I'm pleased to report that we will implement annual 3% merit pay increases for non-contract employees this fall. Contract employees, as you know, have their annual pay increases implemented as part of their contracts.
The increases will average 3% for West employees in positions at grade 23 through the managing director level, and East employees in the Management/Salaried Plan (MSP) through the managing director level.
I'm delighted that we're in a position to offer increases. We have a lot of challenges ahead, but I'm optimistic that we're up to meeting and exceeding our customers' expectations." Parker states.
Nine Million Dollars added to Parker's pocket and pay raises for management employees as a direct result of this merger and all-the-while proclaiming that our contract negotiations for a Single Agreement must remain cost neutral!
This hypocritical posturing of a cost-neutral contract by Parker and his management team must stop now. The Flight Attendants at the new US Airways are as integral to the success of this company any other employee group...including management. We deserve and expect fair enhancements to our wages and working conditions... and yes, we are ready, able, and willing to take the steps necessary to secure those enhancements.
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