Annual Compensation |
Long Term Compensation |
All Other |
||||||
|---|---|---|---|---|---|---|---|---|
Awards |
Payouts |
|||||||
Name and |
Year |
Salary |
Bonus |
Other |
Restricted |
Securities |
LTIP |
|
Glenn F. Tilton |
2004 2003 2002 |
756,832 745,749 312,314 |
366,393 0 3,000,000 |
27,910 31,478 88,683 |
0 0 287,000 |
0 0 1,150,000 |
0 0 0 |
8,481 0 4,500,000 |
Douglas A. Hacker |
2004 2003 2002 |
582,000 582,000 524,100 |
150,413 0 0 |
49,818 11,811 111,260 |
0 0 0 |
0 0 0 |
0 2,083,492 161,693 |
3,606 3,253 37,387 |
Frederic F. Brace |
2004 2003 2002 |
514,000 461,066 445,717 |
173,403 232,500 0 |
25,403 5,049 33,552 |
0 0 82,000 |
0 0 200,000 |
0 0 0 |
2,314 960 9,884 |
Peter D. McDonald |
2004 2003 2002 |
525,998 443,301 301,818 |
177,602 226,500 0 |
26,615 4,379 32,913 |
0 0 58,500 |
0 0 157,650 |
0 0 0 |
4,195 1,350 8,963 |
John P. Tague |
2004 2003 |
541,330 335,531 |
444,969 0 |
13,399 10,758 |
0 0 |
0 0 |
0 0 |
1,696 0 |
(1) Amounts for Messrs. Tilton, Hacker, Brace and McDonald in 2004 were paid under the UAL Success Sharing Program - Performance Incentive Plan (referred to as the Success Sharing Plan). Amounts in 2004 for Mr. Tague were paid under the Success Sharing Plan and the Corporation Retention and Recognition Bonus Plan. Amounts for Messrs. Brace and McDonald in 2003 were paid under the UAL Corporation Retention and Recognition Bonus Plan. 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) Amounts under "Other Annual Compensation" in 2004 are 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, except for Mr. Tague, who also received $4,793 in 2004 to cover tax liabilities associated with relocation and temporary living expenses.
(3) As of December 31, 2004 there was no outstanding restricted stock. On May 12, 2004 the Human Resources Subcommittee approved the release of restrictions on the remaining restricted shares held by the Messrs, Tilton, Hacker and Brace for purposes of the officer donating the stock or proceeds of the sale of stock to a charitable organization.
(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, 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) Amounts in 2004 represent premiums paid by the Company for group variable life insurance. Amount in 2003 includes split dollar life insurance compensation for Messrs. Brace, Hacker and McDonald. 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."