American Airlines CEO Makes $9.7 Million from Stock Sale
American Airlines CEO Doug Parker made $9.7 million for the sale of 231,060 stocks that he sold last week, according to a report by the Star-Telegram.
According to the article,
Following the sale, Parker still owns 1.5 million shares of American stock [ticker: AAL] that is worth about $71.96 million based on Friday’s closing price of $46.69. Parker may sell another 90,000 stock appreciation rights that expire in April, the memo said.
In a memo to employees, the airline said, “Doug remains a large [American Airlines] shareholder and remains very positive about the future of American. Throughout his time as CEO at US Airways and now at American, the only times he has sold shares is when options were about to expire in the near future.”
Earlier in 2016 (April), the American Airlines CEO made $12.6 million as part of a divestiture plan from stocks obtained while leading US Airways. In 2015, Parker gained $30 million from stock sales.