2005 Executive Compensation Summary
UAL 2005 Security and Exchange Commission 10K (Annual Report) Filing - Submitted March 31, 2006
Annual Compensation |
Long Term Compensation |
All Other
Compensation
($)(5) |
Awards |
Payouts |
Name and
Principal Position |
Year |
Salary
($) |
Bonus
($)(1) |
Other
Annual
Compensation
($)(2) |
Restricted
Stock
Awards
($)(3) |
Securities
Underlying
Options/SARs
(#) |
LTIP
Payouts
($) (4) |
Glenn F. Tilton
Chairman, President,
Chief Executive Officer |
2005
2004
2003 |
605,625
756,832
745,749 |
482,532
366,393
0 |
17,822
27,910
31,478 |
0
0
0 |
0
0
0 |
0
0
0 |
9,036
8,481
0 |
Douglas A. Hacker
Executive Vice President |
2005
2004
2003 |
545,000
582,000
582,000 |
296,496
150,413
0 |
47,955
49,818
11,811 |
0
0
0 |
0
0
0 |
0
0
2,083,492 |
4,074
3,606
3,253 |
Peter D. McDonald
Executive Vice President and Chief Operating Officer |
2005
2004
2003 |
504,750
525,998
443,301 |
271,788
177,602
226,500 |
22,880
26,615
4,379 |
0
0
0 |
0
0
0 |
0
0
0 |
5,249
4,195
1,350 |
Frederic F. Brace
Executive Vice President and Chief Financial Officer |
2005
2004
2003 |
498,254
514,000
461,066 |
271,788
173,403
232,500 |
44,026
25,403
5,049 |
0
0
0 |
0
0
0 |
0
0
0 |
2,881
2,314
960 |
John P. Tague
Executive Vice President - Marketing, Sales and Revenue |
2005
2004
2003 |
486,749
541,330
335,531 |
271,788
444,969
0 |
25,270
13,399
10,758 |
0
0
0 |
0
0
0 |
0
0
0 |
1,778
1,696
0 |
(1) Amounts for 2005 and 2004 were paid under the UAL Success Sharing Program - Performance Incentive Plan (referred to as the Success Sharing Plan) which provides awards to substantially all of the Company's employees if the Company achieves certain operating and financial goals. Amounts in 2004 for Mr. Tague were also paid under UAL Corporation Retention and Recognition Bonus Plan ("KERP"). Amounts for Messrs. McDonald and Brace in 2003 were paid under the KERP.
(2) Amounts under "Other Annual Compensation" in 2005 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, 2005 there was no outstanding restricted stock.
(4) In 2003, the Company disclosed that Mr. Hacker had earned an award valued at $2,083,492 under the ULS long-term incentive plan ("LTIP") which was adopted in 2000 for the net value created of ULS asset portfolio during the performance period under the plan. The original award was reduced significantly from its stated dollar amount and the unvested portion was forfeited when the LTIP was amended in June 2003. This award was to have been paid upon the Company's emergence from bankruptcy and subject to Mr. Hacker's continued employment. Subsequent to the Company's exit from Chapter 11, the LTIP was amended to, among other things, eliminate awards for all current and former officers of UAL and United. Consequently, the award shown in 2003 will not be paid to Mr. Hacker under the LTIP.
(5) Amounts in 2005 and 2004 represent premiums paid by the Company for group variable life insurance. Amount in 2003 includes split dollar life insurance compensation for Messrs. Hacker, McDonald and Brace.
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