SkyWest Airlines 2010 Annual Report Download - page 155

GRANTS OF PLAN-BASED AWARDS FOR 2010
The following table provides information about non-equity based and equity- based plan awards
granted to the Executives for the year ended December 31, 2010:
(a) (b) (c) (d) (e) (f) (g) (h)
Estimated
Possible Estimated All Other
Payouts Possible All Other Option
Under Payouts Stock Awards:
Non-Equity Under Equity Awards: Number of Exercise
Incentive Plan Incentive Plan Number of Securities Price of Grant
Awards(1) Awards(1) Shares of Underlying Options Date
Target Target Stock Options Awards Full Fair
Name Grant Date ($) (shares) (shares) (shares) ($S/share)(6) Value(7)
Jerry C. Atkin ..... 11-Nov-2009(2)(3) $307,360
3-Feb-2010(4)(5) $288,150 40,188 19,886 20,094 $14.49 $873,486
Bradford R. Rich . . . 11-Nov-2009(2)(3) $223,280
3-Feb-2010(4)(5) $167,460 23,356 11,557 11,678 $14.49 $507,643
Russell A. Childs . . . 11-Nov-2009(2)(3) $197,760
3-Feb-2010(4)(5) $148,320 20,686 10,236 10,343 $14.49 $449,610
Bradford R. Holt . . . 11-Nov-2009(2)(3) $185,440
3-Feb-2010(4)(5) $139,066 19,396 9,597 9,698 $14.49 $421,572
(1) Non-Equity Incentive Plan and Equity Incentive Plan awards for 2010 included no threshold or maximum
amounts.
(2) The Compensation Committee approved the grant of Non-Equity Incentive Plan Awards in the form of
annual performance bonuses on November 11, 2009.
(3) Annual performance bonuses earned for year 2010 and paid in 2011 are included in the ‘‘Non-Equity
Incentive Plan Compensation’’ column for 2010 in the Summary Compensation Table and are as follows:
Mr. Atkin—$283,700; Mr. Rich—$205,000; Mr. Childs—$194,300; and Mr. Holt—$128,900.
(4) On February 3, 2010, the Company granted stock options, restricted stock and performance unit awards
payable in cash pursuant to the 2006 Long-Term Incentive Plan. Each Executive’s target level of performance
unit grant is listed in column (c). Two-thirds of the shares underlying each Executive’s stock option granted
was a performance-based Equity Incentive Plan award and is listed in column (d). The remaining one-third of
the shares underlying each Executive’s stock option grant was not performance-based and is listed in column
(f). The number of shares of Common Stock underlying each restricted stock unit award earned for 2010 and
payable in 2013 is shown in column (e). All of the long-term incentive awards shown in columns (d) through
(f) vest on the third anniversary of the date of grant (with earlier acceleration if the Executive is terminated
in connection with a change in control).
(5) Performance unit awards earned for year 2010 and payable in cash in 2013, subject to risk of forfeiture if the
Executive’s employment terminates (other than in connection with a change in control) prior to the third
anniversary of the date of grant, are included in the ‘‘Non-Equity Incentive Plan Compensation’’ column for
2010 in the Summary Compensation Table and are as follows: Mr. Atkin—$295,640; Mr. Rich—$171,815;
Mr. Childs—$152,176; and Mr. Holt—$142,676.
(6) The exercise price of the options of $14.49 per share was the market closing price of the Common Stock on
the date of grant.
(7) Column (h) shows the full grant date fair market value of the options granted in 2010 as computed under
ASC Topic 718 and the expense attributable to restricted stock unit awards granted in 2010 (excluding the
effect of estimates for forfeitures). Assumptions and methodologies used in the calculation of these amounts
are included in footnotes to the Company’s audited financial statements for the year ended December 31,
2010, which are included in the Company’s Annual Report on Form 10-K filed with the Securities and
Exchange Commission.
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