Or, here we go again!...........
Delta distributed 398,560 shares to Delta chief executive Richard Anderson; 181,160 shares to president Edward Bastian; and tens of thousands of shares each to executives Mike Campbell, Mike Becker, Steve Gorman, Hank Halter, Glen Hauenstein and Richard Hirst.
The shares are restricted, and the executives can sell or transfer half of them Feb. 1, 2010 or later and the other half Feb. 1, 2011 or later, if those executives are still employed by Delta.
Because of those restrictions it’s unclear how much the stock grants will be worth. But based on Delta’s closing stock price Tuesday, the shares distributed to Anderson in January would be worth about $2.5 million and Bastian’s would be worth close to $1.2 million. Delta’s shares have fallen about 62 percent in the last year.
Meanwhile, Delta did not pay out any profit sharing to employees or annual cash bonuses under its management incentive plan because it reported an $8.9 billion loss last year. Most of the loss was from restructuring and other charges.
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