American Airlines CEO Doug Parker made a small profit in a stock sale last week.
Parker sold off 90,000 shares that were stock appreciation rights, which are similar to stock options, earning $329,861.28 from the sale. The options were awarded to Parker in 2007 while he was chief executive of US Airways and were set to expire in April.
According to a government filing made last Thursday, Parker sold the shares at $49 a share. Since the stock rights were priced at $45.01 a share, he made about $3.99 per share.
The sale was part of investment plan Parker had filed back in October that said the shares would be sold if American’s stock [ticker: AAL] would reach a certain price. Following the sale, Parker still owns over 1.5 million shares of American stock worth approximately $73.6 million.
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He previously gained $9.47 million in December as part of a similar stock sale outlined as part of the October investment plan.