Allegiant Air’s top executives had big drops in compensation last year amid lower profits, a new filing shows.
Maurice “Maury” Gallagher, chairman and CEO of parent Allegiant Travel Co., received about $2.3 million in compensation last year, down 35 percent from 2016, according to a filing Thursday with the Securities and Exchange Commission.
Allegiant President John Redmond received around $1.86 million in compensation, down 82 percent.
Scott Sheldon, the Las Vegas-based airline’s chief operating and financial officer, received $1.9 million, down 37 percent, and chief information officer Scott Allard received $304,744, down 90 percent.
Greg Anderson, Allegiant’s principal accounting officer, was the only executive whose pay was listed in the SEC filing as an increase. He received about $1.2 million in compensation, up 83.5 percent.
Allegiant, a deep-discount carrier, is known for flying from small, underserved cities to warm-weather vacation spots. Annual profits fell 11 percent last year, to almost $195 million, and compensation dropped even further for the top brass due to smaller bonuses and stock awards.
Gallagher, who is Allegiant’s largest shareholder and doesn’t take a base salary, had a $1.5 million bonus last year, down from $2.85 million in 2016.
Redmond, a former casino executive who also doesn’t take a base salary, received no bonus last year and $1.75 million in stock awards, compared to a $250,000 bonus and $9.4 million in stock awards in 2016.
Sheldon had around $800,000 in stock awards last year, down from $2.1 million in 2016, and Allard received a $7,956 bonus and no stock awards last year, compared with a $719,818 bonus and $2.1 million in stock awards in 2016.
Contact Eli Segall at email@example.com or 702-383-0342. Follow @eli_segall on Twitter.