Southwest Airlines CEO Gets Nice Bump in Pay
Southwest Airlines had a record year in 2014.
Now chief executive officer Gary Kelly is being compensated accordingly.
Kelly, according to Southwest’s regulatory filings, saw his total compensation increase 24 percent over last year to a $5 million payday.
Kelly’s base pay remained the same, at $675,000, at his request. Most of the increase came in the form of stock, which is now valued at $3 million according to Southwest, up from $2.25 million in 2013.
The CEO also received a one-time $224,775 bonus, incentive pay of $904,770, $174,793 in other compensation including company contributions to retirement and profit-sharing plans, and $23,561 in above-market earnings on deferred compensation, according to the Associated Press.
Southwest stock rose 125 percent last year as the company earned record net income of $1.14 billion. Southwest is the fourth-biggest U.S. airline behind American, Delta and United – but it is the largest in terms of passenger traffic when you count only domestic passengers.
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