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AA Don Carty Making The BIG $$$$

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Well-known member
Feb 5, 2002
What a Scam!!

WASHINGTON (Dow Jones)--AMR Corp. (AMR, news, msgs) Chairman and Chief Executive Donald J. Carty realized a $2.5 million profit from options in 2001, according to a proxy filed Monday with the Securities and Exchange Commission.

Carty's 2001 salary was $585,813, down from $772,500 in 2000.

According to the filing, in July 2001, Carty's base salary was increased by 5% . The increase was based on the AMR's compensation committee's subjective evaluation of Carty's service and strategic contributions and Carty's compensation relative to the compensation of other chief executives. However, after Sept. 11, Carty voluntarily waived his base salary from Oct. 1 to the end of the year.

Carty didn't receive a bonus in 2001 after receiving a bonus of $1.4 million in 2000, the filing said.

Carty exercised 94,800 options in 2001, the filing said. He holds 1.2 million exercisable options, which have a value of $3.4 million. He also holds 1.2 million options, which haven't vested yet.

In July 2001, the company granted Carty 375,000 options with an exercise price of $36.18 a share, the filing said.

John Chevedden, who owns 100 shares of AMR stock, has submitted a shareholder proposal to nominate only independent directors to the company's audit, nominating and compensation board committees to the fullest extent possible.

"Independent oversight of our management can be a key means to address a sustained AMR recovery," the proposal said.

AMR's board is opposed to the proposal.

According to the filing, the board currently has 12 directors. One of those directors, Carty, is also an employee of the company. Of the remaining 11 directors, AMR already has in place "adequate requirements to ensure the independence of the board and the key committees of the board," the filing said.

As of March 19, AMR had 154,906,118 common shares outstanding.

AMR is based in Fort Worth, Texas.

-Ben Siegel; Dow Jones Newswires; 202-628-7689 DOW JONES NEWS 04-22-02 05:55 PM

Copyright 2002 Dow Jones & Company, Inc. All Rights Reserved.

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