Each manager is assigned in advance a "target bonus", which is a baseline number of shares. AMR's ranking determines what percentage of that baseline is paid out. Since only 4 of the comparators traded on a major stock exchange for the entire period, management was guaranteed at least a 75% payout even if they finished last. By finishing first they will get 175% of their target bonuses, to be paid April 18, 2007.
AMR is only required to list the targets for the named executives in the proxy statement. All others are a very closely guarded secret. The awards for these officers are:
Executive----Target--------- 175% ----------Award Value
Gerard Arpey 135,000 shares 236,250 shares $7.142 million
Dan Garton 69,000 shares 120,750 shares $3.650 million
Gary Kennedy 51,000 shares 89,250 shares $2.698 million
Bob Reding 51,000 shares 89,250 shares $2.698 million
Now quit your bitching and get busy doing more for less!