Southwest Boosts Kelly’s Compensation 15% to $4 Million

Southwest Airlines Co. (LUV), the biggest low-fare carrier, said Chief Executive Officer Gary Kelly received $4.03 million in compensation in 2012, an increase of 15 percent from the previous year.

Kelly’s pay included $675,000 in salary, a $961,000 bonus and $2.25 million in stock awards. His compensation in 2011 totalled $3.52 million, the Dallas-based company said in a filing today.

In 2012, the company posted net income that more than doubled to $421 million. In that year, its stock gained 20 percent, compared with a 13 percent gain for the Standard & Poor’s 500 Index.

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