SkyWest Airlines 2012 Annual Report Download - page 161
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trading day of 2012 ($12.42 per share) and, in the case of stock options, by then subtracting the
applicable option exercise price:
Early Vesting Early Vesting Early Vesting Early Vesting
of Stock of Restricted of Restricted of Performance
Name Options Stock Stock Units Units
Jerry C. Atkin ................ $0 $0 $786,770 $858,617
Bradford R. Rich .............. $0 $0 $467,414 $526,161
Russell A. Childs .............. $0 $0 $401,352 $452,213
Bradford R. Holt .............. $0 $0 $393,416 $442,467
Michael J. Kraupp ............. $0 $0 $167,360 $188,539
If a change in control with respect to the Company results in acceleration of vesting of an
Executive’s otherwise unvested stock options, unvested restricted stock, unvested restricted stock units
or performance unit awards, and if the value of such acceleration equals or exceeds three times the
Executive’s average W-2 compensation with the Company for the five taxable years preceding the year
of the change in control (the ‘‘Base Period Amount’’), the acceleration would result in an excess
parachute payment under Code Section 280G. An Executive would be subject to a 20% excise tax on
any such parachute payment in excess of the Base Period Amount, and the Company would be unable
to deduct the amount of the parachute payment in excess of the Base Period Amount for tax purposes.
The Company has not agreed to provide its Executives with any gross-up or reimbursement for excise
taxes imposed on excess parachute payments.
Deferred Compensation. If the employment of an Executive were terminated on December 31,
2012, the Executive would have become entitled to receive the balance in his account under the
applicable deferred compensation plan. Distribution would be made in the form of a lump sum or in
installments, and in accordance with the distributions schedule elected by the Executive under the
applicable plan. The 2012 year-end account balances under those plans are shown in column (e) in the
applicable Non-qualified Deferred Compensation Tables set forth above. An Executive’s account
balance would continue to be credited with notational investment earnings or losses through the date of
actual distribution.
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