The following chart is part of UAL's 10k filing and shows executive compensation.
Annual Compensation |
Long Term Compensation |
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| Name and Principal Position | Year | Salary ($) | Bonus ($)(1) | Other Annual Compensation ($)(2) | Restricted Stock Awards ($)(3) | Securities Underlying Options/ SARs (#) | LTIP Payouts ($)(4) | All Other Compensation ($)(5) | |
|
Glenn F. Tilton Chairman, President, Chief Executive Officer |
2003 2002 |
745,749 312,314 |
0 3,000,000 |
31,478 88,683 |
0 287,000 |
0 1,150,000 |
0 0 |
0 4,500,000 |
|
|
Douglas A. Hacker Executive Vice President - Strategy |
2003 2002 2001 |
582,000 524,100 515,000 |
0 0 192,880 |
11,811 111,260 70,037 |
0 0 0 |
0 0 60,700 |
2,083,492 161,693 160,116 |
3,253 37,387 41,482 |
|
|
Frederic F. Brace Executive Vice President and Chief Financial Officer |
2003 2002 2001 |
461,066 445,717 350,953 |
232,500 0 0 |
5,049 33,552 38,193 |
0 82,0000 |
0 200,000 52,300 |
0 0 0 |
960 9,884 12,166 |
|
|
Peter D. McDonald Executive Vice President - Operations |
2003 2002 |
443,301 301,818 |
226,500 0 |
4,379 32,913 |
0 58,500 |
0 157,650 |
0 0 |
1,350 8,963 |
|
|
Paul R. Lovejoy Senior Vice President, General Counsel and Secretary |
2003 | 225,323 | 212,500 | 14,497 | 0 | 0 | 0 | 0 | |
Notes(1) Amounts for Messrs. Brace, McDonald and Lovejoy were paid under the UAL Corporation Retention and Recognition Bonus Plan (referred to as the key employee retention plan or KERP). Any bonus for 2003 under the UAL Corporation Performance Incentive Plan for the named executive officers is not calculable at the time of filing this report as the Human Resources Subcommittee has not determined the amounts to pay the officers at this time. (2) The amounts under "Other Annual Compensation" include payments to the named executive officers to cover their tax liabilities incurred in connection with the free transportation and cargo shipment on United that it provides to the officers as well as for Messrs. Tilton and Lovejoy, payments to cover tax liabilities associated with relocation and temporary living expenses. (3) The number and value of restricted stock holdings as of December 31, 2003 for each of Messrs. Brace and Hacker is 25,000 shares and $35,750. These grants vest 100% five years from the date of grant. In 2003, Mr. McDonald forfeited his restricted stock holdings. For Mr. Tilton the number and value of restricted stock holdings as of December 31, 2003 is 75,000 shares and $143,000. This grant vests in four annual installments beginning September 2, 2003. Dividends are paid on these restricted shares/units to the extent paid on our common stock. The Company expects that these shares will be cancelled upon exit from bankruptcy. (4) Amounts represent awards under the UAL Loyalty Services ("ULS") long-term incentive plan ("LTIP") which was adopted in 2000. For 2003, amount represents award accrued for the net value created of ULS asset portfolio during the performance period under the LTIP. This award was reduced significantly from its stated dollar amount and the unvested portion was forfeited when the LTIP was amended in June 2003. This amount is subject to reduction based on the proportionate amount paid to all eligible participants if the total payments for all LTIP awards exceed the maximum amount specified in the LTIP. In addition, this amount is expected to be paid only upon the Company's emergence from bankruptcy and is contingent upon Mr. Hacker's continued employment at that time. For 2002 and 2001, amount represents a payment under the LTIP equal to Mr. Hacker's vested interest in net value created of ULS' asset portfolio upon a liquidating event involving a sale of a portfolio asset. (5) Amount in 2003 includes split dollar life insurance compensation for Messrs. Brace, Hacker and McDonald in the amount of $3,253, $960 and $1,350, respectively. For Mr. Tilton, amount in 2002 represents $4.5 million paid by the Company into three secular trusts on Mr. Tilton's behalf. The secular trusts are described in more detail under "Employment Contracts and Arrangements - Mr. Tilton's Employment Agreement." |