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ALASKA AIR GROUP, INC.

ALK · FY2025

MISALIGNED

CEO Package

$9.9M

Pay Ratio

—

Ben Minicucci

Pay rose +14.6% while TSR fell -88.0 pts

United Airlines Holdings, Inc.

UAL · FY2025

MIXED

CEO Package

$32.3M

Pay Ratio

—

J. Scott Kirby

Both pay and TSR fell, but the reset was partial

American Airlines Group Inc.

AAL · FY2025

MIXED

CEO Package

$13.9M

Pay Ratio

—

Robert D. Isom

Both pay and TSR fell, but the reset was partial

CEOTotal Compensation — All Companies

ALK$9.9MUAL$32.3MAAL$13.9M

All values are grant-date fair value as reported in proxy statements.

Key Differences

The fastest way to read this comparison before dropping into the tables.

UAL carries the largest package at $32.3M, about 3.3x ALK.
ALK reads misaligned, while UAL looks mixed.

Pay Component Breakdown

Latest CEO package mix by company. This stays on the CEO package even if the chart above is showing Top 5 pay.

ALK

Ben Minicucci

$9.9M

base salary9%
stock awards68%
non-equity incentive compensation16%
other compensation5%

UAL

J. Scott Kirby

$32.3M

base salary4%
stock awards70%
non-equity incentive compensation25%
other compensation2%

AAL

Robert D. Isom

$13.9M

base salary9%
stock awards90%
other compensation1%

Quick Comparison

CompanyCEOLatest YearTotal Comp
ALASKA AIR GROUP, INC.(ALK)Ben Minicucci2025$9.9M
United Airlines Holdings, Inc.(UAL)J. Scott Kirby2025$32.3M
American Airlines Group Inc.(AAL)Robert D. Isom2025$13.9M

Note: All compensation values shown are grant-date fair value as reported in proxy statements. Direct comparisons should account for differences in company size, industry, and compensation structure.

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