American Airlines CEO Nets $13.4M In Stock Sale

CBS Dallas / Fort Worth

DALLAS (AP) — The CEO of American Airlines netted a profit of $13.4 million from selling shares and options that he accumulated while running US Airways.

Doug Parker sold more than one-third of his stake in the company formed by the merger of American and US Airways, but he still owns nearly 1.4 million shares, according to a regulatory filing. That stake was worth nearly $47 million at Friday’s closing price.

American disclosed the stock transactions by Parker and other top executives in filings with the Securities and Exchange Commission.

American and US Airways merged in December, and shares and options in each airline were converted to the new company, American Airlines Group Inc.

Parker acquired 505,375 shares on Thursday by exercising options he got for the 2005 merger of US Airways and America West, and which were due to begin expiring later this month. That boosted his stake to…

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