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April 26, 2013
TO: All Members TWU Locals 501 – 591
RE: Equity Distribution
Dear Brothers & Sisters:
Your TWU Equity Committee met yesterday to begin discussions on how
the 4.8% equity stake will be distributed to eligible TWU members at
American Airlines. The Committee, with the assistance of financial advisors
and legal experts, will ensure the plan of distribution is equitable and
maximizes the value for TWU members.
The form of equity distribution (stock or cash) has not been determined as
of this date. We anticipate the distribution will begin around the time that
American exits bankruptcy.
The TWU Equity Committee will address the following issues:
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Determine the distribution of the equity for each group/classification.
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Determine eligibility periods for equity distribution.
The Committee is working to draft the TWU Equity Distribution Plan and will
communicate the details as soon as the process has been completed.
The TWU Equity Committee is scheduled to meet again on May 8 – 9 and
May 23 – 24 and will provide member updates on our progress.
Finally, the Committee intends to conduct Local visits to fully brief and
discuss its work with our TWU membership to make sure we have
membership feedback before the Plan is finalized.
Signed,
Committee Members:
Donny Tyndall, President Local 502 John Plowman, President Local 542
Sean Doyle, President Local 512 Darrin Pierce, President Local 513
Sam Cirri, President Local 514 Jim Fudge, President Local 541
Larry Pike, President Local 567 Tom Lee, President Local 568
Gary Peterson, President Local 591
kla opeiu 153
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