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April 10, 2020, 7:55 a.m. EDT

United Airlines files proxy statement, helps put executive salary cuts in context

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By Tomi Kilgore

United Airlines Holdings Inc. /zigman2/quotes/205037281/composite UAL +1.97% filed late Thursday its 2020 proxy statement , which details what its executives were paid in 2019, and helps put in context the executive salary cuts the air carrier has announced in response to the impact of the COVID-19 pandemic. United has said that Chief Executive Oscar Munoz and President Scott Kirby have waived 100% of their base salaries from March 10 through at least June 30. In 2019, Munoz's base salary was $1.25 million, which represented 9.9% of his total compensation of $12.64 million, including $2.89 million in non-equity incentive plan compensation and $442,933 in other compensation. Kirby's 2019 base salary was $875,000, or 5.2% of total compensation of $16.78 million, which included $1.38 million in non-equity incentive plan compensation and $232,484 in other compensation. The proxy statement also said that the estimated median compensation of all employees in 2019, excluding the CEO, was $74,750 making the ratio of the CEO's pay to all employees 169 to 1. United's stock has tumbled 63.9% over the past three months, while the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +1.33% has dropped 24.9% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.00% has lost 17.7%.

US : U.S.: Nasdaq
$ 38.28
+0.74 +1.97%
Volume: 34.84M
Aug. 11, 2020 12:37p
P/E Ratio
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Market Cap
$10.92 billion
Rev. per Employee
US : Dow Jones Indices
+144.91 +1.33%
Volume: 181.74M
Aug. 11, 2020 12:37p
US : Dow Jones Global
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Volume: 222.31M
Aug. 11, 2020 12:37p

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