85.1 F
Fort Worth
Saturday, September 26, 2020
- Advertisements -
Banking American Airlines CEO nets $2.4M selling company stock

American Airlines CEO nets $2.4M selling company stock

Other News

Petalo, not Charmin: Virus brings Mexican toilet paper to US

By JOSEPH PISANI AP Retail Writer NEW YORK (AP) — Toilet...

Mall owners close to buying JC Penney out of bankruptcy

By ANNE D'INNOCENZIO AP Retail WriterNEW YORK (AP) — Mall owners Simon Property Group and Brookfield Property Partners are close to a...

At Home launches collection with Fort Worth connection

At Home Group Inc. (NYSE: HOME), The Home Décor Superstore, has debuted an exclusive collection with interior...

Former Toys ‘R’ Us reopens as Havertys in Southlake

HAVERTYS (NYSE: HVT and HVT.A) will officially open its new store in Southlake Corners on Friday, August 21, 2020. The 32,300 square...

FORT WORTH, Texas (AP) — The CEO of American Airlines collected nearly $2.4 million after taxes by selling some of his stock in the company.

American disclosed the sale by Doug Parker in regulatory filings on Monday.

Since April, Parker is getting all of his compensation in stock instead of cash, a move he says puts his interests in line with those of shareholders.

The filings say that Parker exercised rights to 113,090 shares that were due to expire in August and grossed about $4.1 million. Parker kept proceeds from selling 55,400 shares at about $42.87 each. American Airlines Group Inc. said it withheld $1.7 million worth of shares to cover taxes and another $758,000 in shares to cover the exercise price of $6.70 each.

In 2014, Parker got compensation valued at $12.3 million including $687,884 in salary.

Parker, who is also chairman, still owns nearly 1.7 million shares — worth $71.5 million at Monday’s closing price — “and remains extremely positive about the future of American,” the company said in the filings with the Securities and Exchange Commission.

The company said that Parker received the stock appreciation rights, which are like options, from 2006 through 2009, while he was CEO of US Airways. He led a merger of the two airlines in 2013.

In May, Parker signed a plan to sell some of his rights each month for the next year.

- Advertisements -
- Advertisements -

Latest News

Texas senators support Supreme Court nominee

By Kelsey Carolan, The Texas Tribune Sept. 25, 2020 "President Donald Trump nominates Amy...

Trump taps ’eminently qualified’ Barrett for Supreme Court

By ZEKE MILLER, LISA MASCARO and MARY CLARE JALONICK Associated PressWASHINGTON (AP) — President Donald Trump nominated Judge Amy Coney Barrett to...

Initial public offerings to debut next week include sporty Texas offering

NEW YORK (AP) — The following is a list of initial public offerings planned for the coming week. Sources include IPO ETF...

Probe into ‘discarded’ ballots becomes campaign outrage fuel

By CHRISTINA A. CASSIDY and MARK SCOLFORO Associated Press HARRISBURG, Pa. (AP) — The news release from a U.S....

Encore Bank announces DFW expansion; names Fort Worth president

Encore Bank Vice Chairman and President Phillip Jett announced Sept. 23 the expansion of Encore Bank into Dallas and Fort Worth and the hiring of...