Alaska Airlines and Horizon Air 2013 Annual Report Download - page 46
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CORPORATE GOVERNANCE
applicable, will review all relevant facts
regarding the transaction in determining
whether to approve or ratify it, including the
extent of the related person’s interest in the
transaction, whether the terms are
comparable to those generally available in
arm’s-length transactions, and whether the
transaction is consistent with the best
interests of the Company. The related person
involved in the transaction will not participate
in the approval or ratification process except
to provide additional information as
requested for the review. Once initially
approved or ratified, all transactions with
related persons will be reviewed at least
annually.
The policy does not require review or approval
of the following transactions: (i) employment
by the Company of an executive officer
unless he or she is an immediate family
member of another related person; (ii) any
compensation paid by the Company to a
director; and (iii) a transaction in which a
related person’s interest arises solely from
the ownership of equity securities and all
holders of the securities receive the same
benefit on a pro-rata basis.
Certain Transactions with Related Persons
The Company and its subsidiaries have
transactions in the ordinary course of
business with other corporations of which
the Company’s executive officers or
directors or members of their immediate
families are directors, executive officers, or
stockholders. With the exception of the
transactions reported here, the amounts
involved in these transactions are below the
disclosure thresholds set by the SEC, or the
executive officer or director or his or her
family member does not have a direct or
indirect material interest, as that term is
used in SEC rules, in the transaction.
Pursuant to 17 CFR § 229.404, the
Company discloses that its subsidiary
Alaska Airlines, Inc. is a party to aircraft and
facilities services agreements with NANA
Management Services, LLC (NMS) worth
$2.75 million in 2014. NANA Development
Corporation owns 51% of NMS. Our director,
Helvi Sandvik, is the president of NANA
Development Corporation and the vice
president of NMS. Ms. Helvik’s sister, Robin
Kornfield, is NANA Development
Corporation’s vice president of marketing &
communication. Ms. Sandvik and
Ms. Kornfield have no direct material
interest in the transactions with Alaska
Airlines, Inc.
ŠProxy
39