Wednesday, March 21, 2012
Three top executives at Hawker Beechcraft will be receiving salary adjustments after filing an 8-K document with the Securities and Exchange Commission.
According to the filing, Hawker’s board of directors approved the adjustments, including back pay. The modifications will affect salaries for Bill Boisture, Hawker chairman and CEO, and vice presidents Shawn Vick and Bill Brown.
Boisture took a voluntary 10-percent pay reduction in 2009 during mass layoffs. Vick and Brown took 10-percent cuts the following year.
The company said the board is retroactively restoring those reductions to the salary levels before the reductions.
Vick and Brown also received four-percent pay raises.
The filing also shows the company made severance agreements with the vice presidents if they are terminated.