Hopeful
Veteran
- Dec 21, 2002
- 5,998
- 347
AMR board members have secrets
Terry Maxon
I just take note that American Airlines and AMR have received approval from the U.S. Securities and Exchange Comission to keep five exhibits from its 2007 10-K secret until Feb. 19, 2018.
I also take note that the exhibits kept secret appear to be the deferred compensation agreements between parent AMR and board member Armando M. Codina in 2004, 2005, 2006 and 2007 and between AMR and board member Earl Graves in 2003.
According to the most recent AMR filings, Mr. Codina has rights to 33,845.98 shares of AMR stock, and Mr. Graves has rights to 20,665.61 shares.
The stock rights are "phantom stock units," which AMR says "deferred compensation. Fees are converted into PSUs based on the average market value of AMR common stock during the deferral month. Exercise/expiration dates are determined at retirement."
Mr. Graves retired from the AMR board on March 31, 2008. For the past year, Mr. Codina has been the lead director of the board.
Terry Maxon
I just take note that American Airlines and AMR have received approval from the U.S. Securities and Exchange Comission to keep five exhibits from its 2007 10-K secret until Feb. 19, 2018.
I also take note that the exhibits kept secret appear to be the deferred compensation agreements between parent AMR and board member Armando M. Codina in 2004, 2005, 2006 and 2007 and between AMR and board member Earl Graves in 2003.
According to the most recent AMR filings, Mr. Codina has rights to 33,845.98 shares of AMR stock, and Mr. Graves has rights to 20,665.61 shares.
The stock rights are "phantom stock units," which AMR says "deferred compensation. Fees are converted into PSUs based on the average market value of AMR common stock during the deferral month. Exercise/expiration dates are determined at retirement."
Mr. Graves retired from the AMR board on March 31, 2008. For the past year, Mr. Codina has been the lead director of the board.
