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Old 04-11-2009, 08:07 PM
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vagabond
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Joined APC: May 2006
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Default Alaska Air CEO earned $1.6M in 2008

I'm gonna go to the shareholder meeting and ask Bill for a small loan, like only $98,000. What do y'all think about that idea?

From Associated Press:

ATLANTA — The chairman and chief executive officer of Alaska Air Group, William Ayer, received total compensation valued at $1.6 million in 2008, according to a regulatory filing Monday.

According to an analysis of the filing with the Securities and Exchange Commission, Ayer, 54, received a salary of $360,000, the same as in each of the two previous years.

He received a performance-based bonus of $186,840 and other compensation of $68,155, including $6,900 for 401(k) matching contributions, $1,832 for life insurance premiums and related taxes, $10,469 for medical insurance premiums, $43,200 for a perquisite allowance and $4,893 for travel taxes paid.

Ayer also received stock and option awards the company valued at $966,012 on the day they were granted. The exercise or base price of the option awards is $27.49, which would put those shares currently under water since the company's share price is trading substantially below that.

The company did not break out any above-market returns on deferred compensation, reporting instead the total earnings on deferred compensation.

Ayer's total compensation came to $1,581,007.

The Associated Press's total pay calculations include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don't include changes in the present value of pension benefits, and they sometimes differ from the totals companies list in the summary compensation table of proxy statements filed with the SEC.

Seattle-based Alaska Air Group operates Alaska Airlines and Horizon Air, which together serve more than 90 cities through their network in Alaska, Hawaii, the continental U.S., Canada and Mexico. In November, Alaska Air Group signed an expanded marketing alliance with Atlanta-based Delta Air Lines, the world's biggest airline operator.

Alaska Air Group's annual meeting is scheduled for May 19 in Seattle. The agenda includes the election of the members of the board to another one-year term, ratification of the appointment of the company's independent auditor, the seeking of an advisory vote concerning executive compensation, and a vote on one stockholder proposal involving the calling of special shareholder meetings.
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