US Airways CEO gets big hike in compensation - East Valley Tribune: Tempe

US Airways CEO gets big hike in compensation

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Posted: Tuesday, April 16, 2013 6:16 pm | Updated: 11:35 pm, Mon Jul 1, 2013.

The CEO of US Airways received a 44 percent increase in compensation to $5.5 million last year.

US Airways disclosed CEO Doug Parker’s compensation in a regulatory filing Monday that also served as a prospectus for the company’s proposed merger with American Airlines.

The merger will make Parker the CEO of the world’s biggest airline.

Parker’s 2012 salary was $550,000, unchanged from previous years. He got stock and option awards valued totaling $2.7 million, a cash incentive of $2.2 million, and $47,821 in other compensation.

In a note to employees, Parker said his pay was based on compensation for CEOs of other airlines and similarly sized companies and was tied to the company’s performance and stock price.

“My 2012 incentive pay was driven 100 percent by our financial performance, and 2012 was a record-setting year for US Airways,” Parker wrote. The company earned record net income of $637 million last year.

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