Since AMR's merger with US Airways was announced, the Fort Worth-based carrier's shares have soared over 400 percent to $6.85.
Now, a few executives are selling shares, that were likely worthless when the company entered bankruptcy, and generating some cash.
According to documents filed with the Securities and Exchange Commission, three AMR executives acquired stock options and then sold some of their existing shares over the past week.
-chief financial officer Bella Goren acquired 13,007 shares of common stock at $6.13 on May 15 and then sold 33,979 shares on May 15 and 16 at prices ranging between $6.33 and $6.88, for a total sale price of $222,028.22. It is unclear how much Goren profited from the transactions since the filing did not say how much she might have paid for some of the shares she had previously acquired.
-executive vice president Dan Garton, who also runs American Eagle, acquired 19,514 shares of common stock at $5.83 on May 14 and then on the next two days sold those shares for $120,168.03 at prices ranging from $5.91 to $6.82. His profit from the transactions was $6,401.41.
-AMR's general counsel Gary Kennedy acquired 11,112 shares on May 14 at $5.83 and then sold those shares for $68,419.39 over the next two days at prices ranging from $5.91 to $6.82. His profit from the transactions was $3,636.43.
AMR plans to complete its merger with US Airways some time in the fall, pending government regulators and US Airways shareholder approval.