SkyWest Airlines 2011 Annual Report Download - page 137
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2011 Net Income Targets, Net Income Results and Net Income-Based Bonus. The net income
targets, actual net income results and corresponding net income-based bonus, for each Executive for
the year ended December 31, 2011 are set forth below as a percentage of each Executive’s salary.
Net
Net Income Target Net Income Income-Based
Target Percentage Results Bonus
(in millions) of Salary (in millions) Percentage
Jerry C. Atkin ............... $100.8 40% $ 0.0 0.0%(1)
Bradford R. Rich ............. $100.8 40% $ 0.0 0.0%(1)
Michael J. Kraupp ............ $100.8 30% $ 0.0 0.0%(1)
Russell A. Childs ............. $ 82.1 60% $58.9 43.0%(2)
Bradford R. Holt ............. $ 14.0 40% $ 0.0 0.0%(1)
(1) For Messrs. Atkin, Rich and Kraupp, the net income-based bonus was zero for 2011, as
the Company generated a consolidated net loss. For Mr. Holt, there was no net income-
based bonus paid with respect to 2011, as ExpressJet generated a net loss.
(2) Actual SkyWest Airlines net income-based bonus equals actual SkyWest Airlines 2011 net
income, divided by the SkyWest Airlines’ net income target, and multiplied by 60%
objective
Individual Goals Bonus Component. In addition to the portion of the annual bonus based upon
achievement of net income targets, a portion of the Executives’ annual bonus is based on their
achievement of individual goals established in advance each year. The targeted bonus attributable to
achievement of individual goals is 40% of salary for Messrs. Atkin, Rich and Holt, 30% of salary for
Mr. Kraupp and 20% for Mr. Childs. The actual amount of the bonus payment for each Executive is
adjusted by the Committee based on each Executive’s achievement of his goals.
The Committee has adopted this approach because it believes the use of individual goals allows
awards to reflect the individual efforts and achievements of an Executive that may not be reflected by
corporate net income performance. For fiscal year 2011, the Committee reviewed the individual goals
for the Executives. The actual payout of the portion of an Executive’s annual bonus incentive related to
individual goals is increased or decreased, as applicable, based on the Executive’s achievement of his
individual goals.
The goals for Messrs. Atkin, Rich, Childs and Holt include operational performance goals,
management development, new business development and development of a strategic plan. The goals
for Mr. Kraupp include supporting other finance department officers, developing best practices in the
Company’s financial management, implementing a cost savings plan, integration of acquisitions, and
general corporate development.
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