Southwest Airlines Co. (LUV:US), the biggest low-fare carrier, said Chief Executive Officer Gary Kelly received $4.03 million in compensation in 2012, an increase of 15 percent from the previous year.
Kelly’s pay included $675,000 in salary, a $961,000 bonus and $2.25 million in stock awards. His compensation in 2011 totalled $3.52 million, the Dallas-based company said in a filing today.
In 2012, the company posted net income that more than doubled to $421 million. In that year, its stock gained 20 percent, compared with a 13 percent gain for the Standard & Poor’s 500 Index.
To contact the editor responsible for this story: Ben Livesey at firstname.lastname@example.org