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Fort Worth's top CEOs honored at FWBP event

The Fort Worth Business Press announced its Top CEOs last night at its Top 100 event held at the Fort Worth Club.

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North Tarrant Express completion date moved up to October

Fort Worth-area commuters can expect the 13.3-mile North Tarrant Express to open in full operation in October, eight months ahead of the original schedule.

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Left Bank project hits roadblocks on access, traffic

Questions about fire access and traffic are bogging down talks on an economic incentive agreement for the planned, $300 million Left Bank development on the Trinity River at West Seventh Street, Fort Worth officials and the developer acknowledge.

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TCU's Neeley School receives $30M donation as part of planned expansion

A $30 million foundation gift to Texas Christian University will help guide a $100 million facility expansion for the Neeley School of Business.

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Mixed-use complex at Fort Worth TRE parking lot could cost $60 million

A design panel proposes two buildings on Trinity Railway Express lot on Near Southside, with a mix of apartments, retail, office and parking, and frontage on West Vickery and views across I-30 and overlooking downtown.

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American Airlines CEO nets $13.4M in stock sale

 

DAVID KOENIG, AP Airlines Writer


DALLAS (AP) — The CEO of American Airlines netted a profit of $13.4 million after exercising options and selling shares that he accumulated while running US Airways.

Doug Parker sold more than one-third of his stake in the company formed by the merger of American and US Airways, but he still owns nearly 1.4 million shares, according to a regulatory filing. That stake was worth nearly $47 million at Friday's closing price.

American disclosed the stock transactions by Parker and other top executives in filings with the Securities and Exchange Commission.

American and US Airways merged in December, and shares and options in each airline were converted to the new company, American Airlines Group Inc.

According to the SEC filing, Parker paid about $10.7 million to exercise options and acquire 505,375 shares on Thursday. The options were from the 2005 merger of US Airways and America West and were due to begin expiring later this month. That boosted his stake to more than 2 million shares, and he sold 702,375 shares for more than $24.1 million on the same day.

A company spokesman said that about half of Parker's profit came from selling shares that he bought in 2008 as a show of confidence at a time when the airline industry was struggling with skyrocketing fuel costs.

Parker told employees this week that he and his wife would donate $1 million to a fund that helps employees with financial problems.

Other executives including President Scott Kirby and Chief Financial Officer Derek Kerr also sold large numbers of shares. They too were executives at US Airways before the merger with American.

American's shares fell 61 cents, or 1.8 percent, to close at $34.41.

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