Executive Compensation for 2006 announced
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Crzipilot
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DOW JONES NEWSWIRES
US Airways Group Inc. (LCC) Chairman and Chief Executive W. Douglas Parker's total compensation for 2006 was valued at $5.4 million, the airline said Monday.
In addition, Parker realized $9 million in value from the exercise of options for 272,250 shares, according to the proxy US Airways filed with the Securities and Exchange Commission.
Parker's compensation included a $550,000 salary, stock awards the company valued at $1.66 million, and $1.75 million in non-equity plan compensation.
Also included in Parker's compensation was about $48,000 worth of personal travel, tax payments and other benefits, the filing said.
President J. Scott Kirby's total 2006 compensation was valued at $2.9 million, the company said. Kirby also realized $7 million in value from the exercise of options for 193,875 shares.
"Included in Parker's compensation was about $48,000.00 worth of personal travel."
1. Didn't know we get paid to non-rev???
2. Think he coulda used a little bit of the 48k for a driver back a few months ago?
US Airways Group Inc. (LCC) Chairman and Chief Executive W. Douglas Parker's total compensation for 2006 was valued at $5.4 million, the airline said Monday.
In addition, Parker realized $9 million in value from the exercise of options for 272,250 shares, according to the proxy US Airways filed with the Securities and Exchange Commission.
Parker's compensation included a $550,000 salary, stock awards the company valued at $1.66 million, and $1.75 million in non-equity plan compensation.
Also included in Parker's compensation was about $48,000 worth of personal travel, tax payments and other benefits, the filing said.
President J. Scott Kirby's total 2006 compensation was valued at $2.9 million, the company said. Kirby also realized $7 million in value from the exercise of options for 193,875 shares.
"Included in Parker's compensation was about $48,000.00 worth of personal travel."
1. Didn't know we get paid to non-rev???
2. Think he coulda used a little bit of the 48k for a driver back a few months ago?
sky high states: was just reading this:
During the past two decades, CEO pay has blasted off from the terrestrial world in which most workers toil to interplanetary levels where few salaried employees could ever hope to go.
New disclosure rules are allowing shareholders to see details in CEO pay, performance and perks that would have been unimaginable a few years ago.
And while annual proxy statements filed with the Securities and Exchange Commission in the past provided a general snapshot of just how big those CEO salaries were, shareholders could never quite get a detailed, granular view of how much a chief executive made -- until now. Under disclosure rules approved by the SEC last year, public companies must furnish many more details about compensation packages than they've ever had to divulge.
Like the arrival of the Hubble Telescope in the 1990s, which suddenly provided astronomers with clear views of distant galaxies, the new disclosure rules are allowing shareholders to see details in CEO pay, performance and perks that would have been unimaginable a few years ago.
It's now possible to find, in one simple, easy-to-read chart, not only the salary of the top five executives of a company, but also a breakdown of which bonuses are tied to performance and which aren't. There's also a summary of the expenses recorded by a public company for the stock options and restricted stock grants that were doled out in previous years. Then there's a column for stock-option grants given in 2006 that don't vest until some time in the future, as well as a column on how much the executives' pension benefits increased over the 12-month period.
Finally, the smallest but most interesting entry on the new disclosure form is "all other compensation," which provides the total value of perks and benefits for each of the top five executives. Previously, companies had to describe any perks and benefits that exceeded $50,000 in value. But under the new rules, if the total of all perks exceeds $10,000, they have to be disclosed.
only stating opinions
D
delta777
Guest
Shared sacrifice for shared rewards, huh? Perhaps LCC's unions can bring up that little doozie of a salary next time they're at the bargaining table. I thought LCC was
"cost-neutral"? Poor Doogie appears to suffer from foot-in-mouth disease.
"cost-neutral"? Poor Doogie appears to suffer from foot-in-mouth disease.
jimntx
Veteran
IRS rules require that companies report "imputed income" from free company benefits. This may be "when over a certain amount" or not. I'm not sure.
I know that my pay stubs include an income tax amount for imputed value on my sister's non-rev travel. She is my registered companion and travels at the same non-rev priority as I. The amount can be substantial at times.
I imagine that the $48,000 for Parker includes all of his family's travel. And, if he is giving away free travel to friends/business associates under his personal non-rev account, the value of the travel is considered income to him.
Parker, 45, was paid a $550,000 salary in 2006, an amount that the company said has not increased since he took the helm of America West Airlines in September 2001.
He got $1.7 million in performance incentive payments. Parker also received other compensation of $47,947, including personal travel benefits and $11,072 in tax liability payments related to personal travel benefits, personal cell phone use, financial services and golf course club dues.
US Airways also gave Parker stock and options awards that had an estimated value of $3.5 million when they were granted on April 19, 2006.
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only stating opinions
He got $1.7 million in performance incentive payments. Parker also received other compensation of $47,947, including personal travel benefits and $11,072 in tax liability payments related to personal travel benefits, personal cell phone use, financial services and golf course club dues.
US Airways also gave Parker stock and options awards that had an estimated value of $3.5 million when they were granted on April 19, 2006.
:down: :down: :down: :down: :down: :down:
only stating opinions
