- Banned
- #1
US Airways CEO receives $14.4M from pay, stock options
By staff and wire reports
Tuesday, April 17, 2007
US Airways CEO Doug Parker received nearly $5.4 million in cash and securities compensation in 2006, according to the airline's proxy statement filed Monday. In addition, Parker reaped $9 million last year from exercising stock options for total pay of about $14.4 million. He and other executives benefited from a 45 percent run-up in US Airways' stock last year, when the company posted operating profit of $507 million. The airline recently distributed $59 million of that amount to employees. Parker, 45, said in a message to workers yesterday that his 2006 salary of $550,000 has not changed since 2001, when he became CEO of US Airways' predecessor American West Airlines. The rest of his pay is "at risk" compensation that depends on the company hitting performance benchmarks. Parker got no bonus last year or in 2005. He received almost $11.6 million in 2005, including securities and money from exercising stock options.
By staff and wire reports
Tuesday, April 17, 2007
US Airways CEO Doug Parker received nearly $5.4 million in cash and securities compensation in 2006, according to the airline's proxy statement filed Monday. In addition, Parker reaped $9 million last year from exercising stock options for total pay of about $14.4 million. He and other executives benefited from a 45 percent run-up in US Airways' stock last year, when the company posted operating profit of $507 million. The airline recently distributed $59 million of that amount to employees. Parker, 45, said in a message to workers yesterday that his 2006 salary of $550,000 has not changed since 2001, when he became CEO of US Airways' predecessor American West Airlines. The rest of his pay is "at risk" compensation that depends on the company hitting performance benchmarks. Parker got no bonus last year or in 2005. He received almost $11.6 million in 2005, including securities and money from exercising stock options.