When is $5 a share really not $5 a share? Answer.. when you got AA and the TWU doing the math.
Just when you thought they couldn''t possibly slap you in the face anymore, here''s another. AA registered 42,680,000 stock option on behalf of its employees at a mere $3.52 a share. AA is now looking to sell them to their employees at $5 a share plus a brokers fee of $25 and 2 cents a share.
The twu''s response, the Intl knows about this.
So, if you want ro redeem your options, you are actually paying AA $645.28 plus brokers fees for the 436 shares each AMT will get according to the SEC document. Meanwhile the TWU is doing a pro-morale/ management accountability campaign. Hello open your eyes please, you gave away $120,000 plus of our money and benefits without a vote, and AA will be taking another $645 for the options. Lets not even talk about next years benefits costs and you think you can campaign your way into making them accountable and that will improve morale.
The facts....
AMR Corporation 2003 Employee Stock Incentive Plan
(Full title of the Plan)
Gary F. Kennedy, Esq.
Senior Vice President and General Counsel
AMR Corporation
4333 Amon Carter Boulevard
Fort Worth, Texas 76155
(Name and address of agent for service)
(817) 963-1234
(Telephone number, including area code, for agent for service)
<Page> 2
CALCULATION OF REGISTRATION FEE
<Table>
<Caption>
<s> <c> <c> <c> <c>
Proposed
Title of Proposed maximum
securities maximum aggregate Amount of
to be Amount to be offering price offering registration
registered registered per unit price fee
Common 42,680,000 $3.52 $150,233,600 $12,153.90
Stock, par (1) (2)
value $ 1.00
per share
</Table>
(1) Consists of shares of Common Stock to be offered
pursuant to the AMR Corporation 2003 Employee
Stock Incentive Plan (the Plan). Such
indeterminate number of additional shares as may
be issuable pursuant to the recapitalization
provisions under the Plan is hereby also
registered.
(2) Computed pursuant to Rule 457(h) solely for the purpose of
determining the registration fee, based upon an assumed
price of $3.52 per share, which was the average of the high
and low prices of AMR Corporation common shares on April
15, 2003, as reported on the New York Stock Exchange.
http://www.sec.gov/Archives/edgar/data/620...19/apr03s8d.txt
TWU''s responses to date....Restore Trust...Rebuild AA..Note..One month after the release of the stock option at $3.52 a share.
http://www.twuatd.org/aarestructure/shareholder_leaflet_1.pdf
And this inspiring comment.....
On the subject of salary cuts, Mr. Arpey must lead the way by example. This can be accomplished by significantly reducing all levels of managements base pay and staffing, (the minimum cut being proportionate; to wage percentage cuts and reduced staffing the unions are making), of course with the same commitment for a minimum of five years. Additionally, cancel all unexercised and unsold stock options (held by all management personnel) and halt any further issuance of stock option awards to senior management. Lastly, place a moratorium on all long term incentive payouts and stop any additional actions by the compensation committee (such as back door bonuses). “Not only are we convinced this move would begin to turn the finances around at American, the side affect would inspire and motivate employees†said Don Videtich President Local 565 in Dallas/Ft. Worth.
Somebody let these people know that morale is gone and their smoke screen BS is not going to change the fact that our money and benefits are gone along with our morale.
Just when you thought they couldn''t possibly slap you in the face anymore, here''s another. AA registered 42,680,000 stock option on behalf of its employees at a mere $3.52 a share. AA is now looking to sell them to their employees at $5 a share plus a brokers fee of $25 and 2 cents a share.
The twu''s response, the Intl knows about this.
So, if you want ro redeem your options, you are actually paying AA $645.28 plus brokers fees for the 436 shares each AMT will get according to the SEC document. Meanwhile the TWU is doing a pro-morale/ management accountability campaign. Hello open your eyes please, you gave away $120,000 plus of our money and benefits without a vote, and AA will be taking another $645 for the options. Lets not even talk about next years benefits costs and you think you can campaign your way into making them accountable and that will improve morale.
The facts....
AMR Corporation 2003 Employee Stock Incentive Plan
(Full title of the Plan)
Gary F. Kennedy, Esq.
Senior Vice President and General Counsel
AMR Corporation
4333 Amon Carter Boulevard
Fort Worth, Texas 76155
(Name and address of agent for service)
(817) 963-1234
(Telephone number, including area code, for agent for service)
<Page> 2
CALCULATION OF REGISTRATION FEE
<Table>
<Caption>
<s> <c> <c> <c> <c>
Proposed
Title of Proposed maximum
securities maximum aggregate Amount of
to be Amount to be offering price offering registration
registered registered per unit price fee
Common 42,680,000 $3.52 $150,233,600 $12,153.90
Stock, par (1) (2)
value $ 1.00
per share
</Table>
(1) Consists of shares of Common Stock to be offered
pursuant to the AMR Corporation 2003 Employee
Stock Incentive Plan (the Plan). Such
indeterminate number of additional shares as may
be issuable pursuant to the recapitalization
provisions under the Plan is hereby also
registered.
(2) Computed pursuant to Rule 457(h) solely for the purpose of
determining the registration fee, based upon an assumed
price of $3.52 per share, which was the average of the high
and low prices of AMR Corporation common shares on April
15, 2003, as reported on the New York Stock Exchange.
http://www.sec.gov/Archives/edgar/data/620...19/apr03s8d.txt
TWU''s responses to date....Restore Trust...Rebuild AA..Note..One month after the release of the stock option at $3.52 a share.
http://www.twuatd.org/aarestructure/shareholder_leaflet_1.pdf
And this inspiring comment.....
On the subject of salary cuts, Mr. Arpey must lead the way by example. This can be accomplished by significantly reducing all levels of managements base pay and staffing, (the minimum cut being proportionate; to wage percentage cuts and reduced staffing the unions are making), of course with the same commitment for a minimum of five years. Additionally, cancel all unexercised and unsold stock options (held by all management personnel) and halt any further issuance of stock option awards to senior management. Lastly, place a moratorium on all long term incentive payouts and stop any additional actions by the compensation committee (such as back door bonuses). “Not only are we convinced this move would begin to turn the finances around at American, the side affect would inspire and motivate employees†said Don Videtich President Local 565 in Dallas/Ft. Worth.
Somebody let these people know that morale is gone and their smoke screen BS is not going to change the fact that our money and benefits are gone along with our morale.