DL's Bastian Gets His

[Voice Of Reason]

Atlanta Business Chronicle - November 26, 2008
http://atlanta.bizjournals.com/atlanta/stories/2008/11/24/daily45.html

Wednesday, November 26, 2008 - 11:32 AM EST | Modified: Wednesday, November 26, 2008 - 11:35 AM
Delta's Bastian sells more stock; sales total $1.4M since Oct. 31

Atlanta Business Chronicle - by J. Scott Trubey Staff Writer

The president of Delta Air Lines Inc. sold $344,000 worth of shares in the company’s stock Tuesday, a matter of weeks after he sold shares worth more than $1 million, according to Securities and Exchange Commission filings.
Between stock sales on Oct. 31 and Tuesday, Ed Bastian has sold about 150,000 shares of Delta stock for nearly $1.4 million.
Bastian, who also has taken on the role of CEO of Northwest Airlines Corp. since the carrier’s acquisition by Delta, sold 50,000 shares Tuesday at a value ranging from $6.855 to $7.01 per share.
On Oct. 31, Bastian made $1.04 million in a stock sale just days after he and many other Delta executives earned lucrative stock bonuses following the carrier’s acquisition of Eagan, Minn.-based Northwest, government documents show.
A Delta spokeswoman declined to comment on the stock sales.
Atlanta-based Delta (NYSE: DAL) finalized its merger with Northwest Oct. 29 following clearance by federal regulators. Northwest operates as a subsidiary of Delta. The combination of the carriers into a single airline is expected to take about two years.
As reported by Atlanta Business Chronicle Nov. 5, Bastian and other Delta executives who helped execute the acquisition of Northwest sold hundreds of thousands of shares of stock in the days after wrapping up the deal, according to recent SEC filings.
New Delta Chief Financial Officer Hank Halter sold more than 64,000 shares worth about $694,000 ($10.75 per share). Mike Campbell, executive vice president of human resources and labor relations, sold 65,719 shares for $736,000. Glen Hauenstein, executive vice president for network planning and revenue management, sold 20,000 shares for $230,000.
Delta CEO Richard Anderson, Bastian, Halter, Campbell, Hauenstein and several other top officers with Atlanta-based Delta and Eagan, Minn.-based Northwest received stock and vested stock options worth tens of millions of dollars combined.
As previously reported, Delta (NYSE: DAL) said it would give employees a total of about 15 percent of the company’s stock. In an SEC filing, the airline said about 10 percent of all diluted shares went to frontline and corporate employees.
About 600 to 700 corporate officers received the remaining employee stock share (about 3.5 percent), according to the filings.

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[jetjockey#1]

So, when are we getting ours????

Seriously, anybody knows? I thought it was the date after corporate closure.

 

[MJ42]

So, when are we getting ours????

Seriously, anybody knows? I thought it was the date after corporate closure.

The pilots already have it, just waiting to be sold and dispersed, which will be in a "reasonable" timeframe that could be up to a year. Didn't you get that memo?

 

[Scope out RJ's]

The pilots already have it, just waiting to be sold and dispersed, which will be in a "reasonable" timeframe that could be up to a year. Didn't you get that memo?

I thought it was 4-6 weeks.

 

[ACL65PILOT]

You will not see it until after the year. It is this way so that guys will not bump up against the 401K max.

 

[nwaf16dude]

I hope they hold out for some significant improvement in the price myself. It'll have to break 11ish before we see any cash outside of the 401K anyway.

 

[ACL65PILOT]

As with most people on the bottom half of the list. One can hope.....

 

[crj567]

As with most people on the bottom half of the list. One can hope.....

Such a forceful expression of confidence in your future stock value!

-The sky's the limit!

 

[jetjockey#1]

The pilots already have it, just waiting to be sold and dispersed, which will be in a "reasonable" timeframe that could be up to a year. Didn't you get that memo?

I guess not. I read a memo stating that they will keep us informed in a future memo, but no timeframe. I personally find it suspicious that we, pilots, have no say on how and when is going to be dispersed.
Unfortunately, some of us might need this money as income, versus 401k.

 

[ACL65PILOT]

I guess not. I read a memo stating that they will keep us informed in a future memo, but no timeframe. I personally find it suspicious that we, pilots, have no say on how and when is going to be dispersed.
Unfortunately, some of us might need this money as income, versus 401k.

You also need to understand that it is one way or the other with the money. Most wanted it in their retirement funds to that is how they are going to distribute it.