Originally Posted by
Superdad
I understand that the DOJ gave approval but DOJ approval and date of corporate closure are 2 different things. Since DCC is what determines our equity, I am simply trying to find out if all that happened today was DOJ approval or if today was in fact DOJ approval AND date of corporate closure. What I really want to know is if we got locked in at todays stock price of 7.99 a share as far as the equity is concerned.
DCC is today.
I think you are confused about the equity. We are not "locked in" to today's price.
The company will issue pilot shares equal to 5.88% of the outstanding equity capitalization of the new corporation. (3.5% to pre-merger DAL pilots and 2.38% to pre-merger NWA pilots)
ALPA will take possession of those shares. They plan to have an investment banker sell the shares sometime in the near future and distribute the cash as "employer contributions" to our qualified DC retirement accounts.
The price we get will be whatever the market price is when the banker sells the shares. Hopefully it will go up over the next few days or weeks.