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According to a release, the pilots want to “remindf Continental management that the sacrifices made by the Continentakl pilots in theirlast contract, in which they agreedf to annual concessions of over $200 million, is a ‘loan’ that is The contract became amendable on Dec. 31, 2008. The pilot s are members of the union. The uniob is seeking a renewed focus and commitment by management so that a new contract can bepromptly negotiated.
Jay Pierce, representing the airline’s 5,000 will address company management and directors duringthe Separately, two resolutions proposed by shareholderx of Houston-based Continental (NYSE: CAL) will be put to a vote at the One resolution calls for an end to stocl option grants for senior executives, which Continental officials oppose, sayingb such a measure would be “undulyh restrictive.” According to its proxgy filing, Continental has not given optionzs to senior executives since but needs “flexibility” in deciding whether to awarde options in the future.
Another shareholder proposal suggests that the company be reincorporatedin “shareholder North Dakota. A two-year-old state law allows for shareholderd to vote to reincorporate a company in North Dakota and adopt the measures of the 2007 North Dakota Publicly Traded Corporations Act, which among other itemx includes annual votes on executivee pay, the declassification of boards of directors and the separatioj of the board chairman and chiefc executive positions. Continental officials also opposethat proposal.
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