honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser
Posted on: Thursday, May 8, 2008

STOCK SALE
Hawaiian CEO sells $2M in stock

By Rick Daysog
Advertiser Staff Writer

Hawaii news photo - The Honolulu Advertiser

Hawaiian Airlines Chief Executive Officer Mark Dunkerley continues to own a "significant amount of the company's equity" despite recently selling $2 million in company stock.

ADVERTISER LIBRARY PHOTO | April 2008

spacer spacer
Hawaii news photo - The Honolulu Advertiser

Mark Dunkerley

spacer spacer

Hawaiian Airlines Chief Executive Officer Mark Dunkerley sold about $2 million in company stock this month, the company disclosed in a regulatory filing.

According to a filing with the Securities and Exchange Commission, Dunk-erley sold 200,000 shares at $8.59 a share on May 2 and another 33,570 at $8.45 per share that same day.

The company said Dunkerley continues to own a "significant amount of the company's equity."

The sale — Dunkerley's first since he joined the company in 2002 — leaves the CEO with 225,000 shares of restricted stock. He also has options to purchase another 1.6 million shares.

Hawaiian Holdings Inc., the airline's parent, said Dunkerley was restricted in his ability to sell shares of the company's common stock to specific trading windows, and he chose to do so now for personal financial-planning reasons.

The company said that most of the stock sold, or 200,000 shares, were obtained by Dunkerley after he exercised a stock option granted to him in 2002. Those options were part of an incentive package to retain the executive when the airline was under Chapter 11 bankruptcy protection, Hawaiian Holdings said.

The option allowed Dunkerley to buy the 200,000 shares at $2.10 each. In selling the shares for $8.59 each, Dunkerley netted $6.49 a share, or a total of about $1.3 million.

Hawaiian's shares closed at $7.10, down 33 cents yesterday on the American Stock Exchange.

Reach Rick Daysog at rdaysog@honoluluadvertiser.com.