United Airlines
ORG
United Airlines United
Last Thursday, unsecured creditors and executives at the UAL Corporation, parent of United Airlines, agreed to a deal in which 400 executives stand to share an astonishing 10 million shares, or 8 percent of the total that the company expects to issue upon its emergence from bankruptcy. According to Jean Medina, Towers Perrin noted in another report it filed with the court that the plan, which has since been reduced, was both reasonable and appropriate for United's situation. She said in a statement that they believe, and the official committee of unsecured creditors, which represents our creditors and unions, agreed, that this program was appropriate to enable United to attract and retain top performers. It's in everyone's interests for management to have this component of management compensation tied to the future performance of United's stock price. The unsecured creditors and executives at the UAL Corporation, who is the parent of United Airlines, agreed to deal with them where 400 executives stand to share an astonishing 10 million shares, or 8 percent of the total that the company expects to issue upon its emergence from bankruptcy. A UAL spokeswoman, Towers Perrin noted that the plan, which has been reduced, was both reasonable and appropriate for United's situation. She asked that what's the other half a percent among their friends, this was according to Jean Medina.