Southwest plans to issue 12 million shares for employee incentive plan

Southwest Airlines announced plans to issue 12 million shares or approximately 1.6% of total shares for use in an incentive plan for employees, directors and advisers, following a vote by shareholders to triple the company's stock-incentive programme in addition to the original 6 million (The Associated Press, 20-May-2010). The plan has been used to grant 3.7 million stock options in the past, including 450,000 to Chairman and CEO, Gary Kelly, and 170,000 and 165,000 respectively to Executive Vice-Presidents, Ron Ricks and Michael Van de Ven.