SkyWest Airlines 2011 Annual Report Download - page 150

Download and view the complete annual report

Please find page 150 of the 2011 SkyWest Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 168

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168

NON-QUALIFIED DEFERRED COMPENSATION FOR 2011
Pursuant to the SkyWest Deferred Compensation Plan and the ExpressJet Deferred Compensation
Plan, covered Executives may elect prior to the beginning of each calendar year to defer the receipt of
base salary and annual performance bonuses earned for the ensuing calendar year. Amounts deferred
are credited to an unfunded liability account maintained by the Company on behalf of the applicable
Executive, which account is deemed invested in and earns a rate of return based upon certain
notational, self-directed investment options offered under the applicable plan.
Each Executive’s account under the SkyWest Deferred Compensation Plan and ExpressJet
Deferred Compensation Plan, as applicable, is also credited with a discretionary employer contribution
monthly, whether or not the Executive contributes. For 2011 that discretionary employer contribution
was 15% of the Executive’s salary and annual bonus. Participant account balances under the SkyWest
and ExpressJet Deferred Compensation Plans are fully vested and will be paid by the Company to each
Executive upon retirement or separation from employment, or on other specified dates, in a lump sum
form or in installments according to a schedule elected in advance by the Executive.
The following table provides information regarding the SkyWest Deferred Compensation Plan for
the Executives for the year ended December 31, 2011:
(e)
(b) (c) (d) Aggregate (f)
Executive Registrant Aggregate Withdrawals/ Aggregate
Contributions in Contributions in Earnings in Distributions in Balance at
(a) Last Year Last Year Last Year Last Year Last Year
Name(1) ($) ($)(2) ($)(3) ($) End ($)
SkyWest
Jerry C. Atkin ............ — $103,157 $(17,385) — $1,979,279
Bradford R. Rich .......... — $ 78,064 $ 31,724 — $1,168,126
Russell A. Childs .......... — $ 69,454 $ 13,278 — $ 524,069
Bradford R. Holt .......... — $ 0 $ 2,055 $(110,000) 392,219
Michael J. Kraupp ......... — $ 39,543 $ (7,433) — $ 506,914
(1) For 2011, Messrs. Atkin, Rich, Childs and Kraupp were covered by the SkyWest Deferred
Compensation Plan only and Mr. Holt was covered by both the SkyWest Deferred Compensation
Plan (as to contributions for years prior to 2009 and earnings thereon only) and the ExpressJet
Deferred Compensation Plan (with respect to contributions for 2009 through 2011 and earnings
thereon).
(2) The amounts in column (c) reflect the amounts of employer contributions credited under the
applicable deferred compensation plan for 2011 at the rate of 15% of each Executive’s 2011 base
salary and 2010 bonus which was paid in 2011 or actual bonuses paid in 2010. The amounts
reported in column (c) are also included in the amounts reported in the ‘‘Other Compensation’’
column of the Summary Compensation Table appearing above.
(3) The amounts in column (d) reflect the notational earnings during 2011 credited to each Executive’s
account under the SkyWest Deferred Compensation Plan. These amounts are not reported in the
Summary Compensation Table because they are based on market rates determined by reference to
mutual funds that are available to participants in the SkyWest 401(k) Plan or otherwise broadly
available.
39