American Airlines chief executive Doug Parker earned $4 million in a stock sale made on Monday, according to a government filing.
Parker has been selling thousands of stock appreciation rights, which are similar to stock options, that he received when he was chief executive of US Airways between 2006 and 2009. The stock rights are set to expire in the next year and will be worthless if he does not sell them before their expiration date.
This is the second sale of the year. In January, he gained $4.3 million in the monthly stock sale. He plans to sell the stock rights in groups throughout the year. In 2015, Parker made seven stock sales for a total of $30 million as part of a divestiture plan he outlined in June.
With the most recent sale, Parker sold 113,090 stock rights at prices between $38.94 and $39. After the sale, Parker continues to hold 1,398,511 shares of American stock [ticker: AAL]. American’s shares closed at $39.38, up 39 cents on Monday.
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