SkyWest Airlines 2009 Annual Report Download - page 148
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Summary of Material Features of the 2010 Plan
The following summary of the material features of the 2010 Plan is subject to the full text of the
2010 Plan that is contained in Appendix A to this Proxy Statement.
Plan Term: Ten years from date of shareholder approval
Eligible Participants: Employees, directors and consultants selected by the
Compensation Committee
Shares Authorized: 5,150,000 shares of Common Stock, subject to certain
adjustments
Shares Authorized as a Percentage of
Outstanding Common Stock: Approximately 9.2% at March 1, 2010
Recent Market Value per Share: $15.29 (the closing sales price on The Nasdaq Global Select
Market at March1, 2010)
Award Types: (1) Incentive stock options, (2) non-qualified stock options,
(3) restricted stock, (4) restricted stock units, (5) other share-
based awards, (6) stock appreciation rights and
(7) performance awards, including annual and long-term cash
awards. Other than options, which are always settled in shares
of Company stock, awards may be paid in cash or stock as
determined by the Compensation Committee
Limits on Option Term: The maximum permitted term of any stock option or stock
appreciation right under the 2010 Plan is seven years.
Individual Limits On Awards: No participant may be granted options and stock appreciation
rights with respect to more than 1,000,000 shares in any
36-month period. No participant may earn more than 500,000
shares in any 36-month period under restricted stock awards,
restricted stock unit awards, other share-based awards, or
performance awards that are intended to comply with the
‘‘qualified performance-based compensation’’ exception to
Code Section 162(m). No participant may earn more than
$5,000,000 in cash under any performance cash award that is
intended to comply with the ‘‘qualified performance-based
compensation’’ exception to Code Section 162(m) for each
12 months in a performance period.
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