SkyWest Airlines 2006 Annual Report Download - page 73

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67
Thefollowing table summarizes information about stock options outstanding at December 31, 2006:
Options Outstanding OptionsExercisable
Range of
Exercise
Prices
Number
Outstanding
Weighted Average
Remaining
ContractualLife
Weighted Average
Exercise Price
Number
Exercisable
Weighted Average
Exercise Price
$10 to $15...............771,410 4.5 years$11.43771,410 $11.43
$16 to $21...............3,145,688 7.3 years18.17 392,000 20.13
$22 to $27...............1,587,474 5.9 years25.56 1,215,714 26.10
$10 to $27...............5,504,572 6.5 years19.36 2,379,124 20.36
(7) Retirement Plan and Employee Stock PurchasePlan
SkyWest Retirement Plan
The Company sponsors the SkyWest, Inc. Employees’ Retirement Plan(the “SkyWest Plan”).
Employees whohave completed 90 days of service and are at least18 years of ageareeligible for
participation in theSkyWest Plan.Employees may elect to make contributions to the SkyWest Plan. The
Companymatches 100% of such contributions up to 2%,4% or 6% of the individualparticipant’s
compensation, basedupon length of service. Additionally, a discretionary contribution maybe made by the
Company. TheCompany’s combined contributions to theSkyWest Plan were $7.2 million, $10.5 million
and $9.7 million for theyears ended December 31, 2006,2005 and 2004, respectively.
ASA Retirement Plan
ASA sponsorsthe Atlantic Southeast Airlines, Inc. Investment Savings Plan (“ASA Plan”).
Employees whohave completed 90 days of service and are 18 years of age are eligible for participation in
theASA Plan. Employees may elect to make contributions to theASA Plan however, ASA limits the
amount of company match at 6% of each participant’s total compensation. Additionally, ASA matchesthe
individual participant’s contributionsfrom 20% to 75%, depending on the length of the participant’s
service. TheCompany’s contribution to the ASA Planwas $4.1 million in 2006 and no contributions were
made for theperiod fromdate of acquisition through December31, 2005. Additionally, participants are
100% vested in their elective deferrals androllover amounts and from 10% to 100% vested in company
matching contributionsbased on length of service.
Employee Stock Purchase Plan
In February 1996, theCompany’s Board of Directors approvedthe SkyWest, Inc. 1995 Employee
Stock Purchase Plan (the “Stock Purchase Plan”). Allemployees who have completed 90 days of
employment areeligible to participate, except employeeswho own five percent or more of the Company’s
common stock. TheStock Purchase Planenables employees to purchase shares of the Company’s common
stock at a 15% discount, through payroll deductions. Employeescan contribute up to 15% of their base
pay, not to exceed $21,250each calendaryear, for the purchase of shares. Shares are purchased semi-
annually at a 15% discount based on thelower of the beginningor the end of theperiod price. Employees
can terminate their participation in the Stock Purchase Plan at anytime upon written notice.
Thefollowing table summarizespurchases made under the Employee StockPurchasePlan:
Year Ended December 31,
2006 2005 2004
Number of share purchased..................... 161,369 175,480 343,136
Averageprice of shares purchased...............$21.08 $15.45 $14.57